How Flex Culture is Shaping Our Mindset

This is a modified version of an original article that first appeared in The Kiam Siap Life. You can see the original article HERE.

Walking down orchard road these days, I tend to wonder how all these youngsters and teenagers are finding the money to own and don these luxury brands – YSL, Gucci, LV, Balenciaga, ADLV, Supreme, just to name a few.

Seeing these younger generation of youths in their undergraduate days flaunting their luxury apparel just makes me wonder how do they afford it? (For the record, we haven’t own any of these brands listed above, because we think Uniqlo works just fine) Are they just some lucky kids with rich parents or are they just pouring all their pocket money/ part-time cash into these brands?

What is Flex Culture?

“Flexing” is a way of showing off something new that is significantly better off (usually in value) to others and probably on a grander scheme of things, the entire world (e.g. Youtube, Facebook, Instagram, TikTok). It can be anything from showing off a new overpriced apparel to a newly bought Porsche.

Is This Something New?

Do you think this culture is something new? From my perspective, not really.

It used to mostly be the way of life for those who can comfortably afford branded goods. And those who possessed these brands were usually someone of status because the traditional thinking was that the more money you have, the more material possessions you are able to buy. This image forms a very profound status of wealth and power.

How Has Flex Culture Become More Prevalent?

Things has pretty much evolved since the early 2000s, but the motivation behind it has been constant.

These days, with the increased prominence of social media, flex culture has become much more prevalent amongst the Gen-Z and younger millennials. This culture burns with prominence from Youtubers, Instagrammers and Tik-Tokers such as Jake Paul, Rice Gum, and to add fuel to the fire, celebrities such as Jay Z and Beyonce are jumping on the bandwagon to show off their new buys on social media.

In a way, these luxury brands engage these influencers as a form of marketing to attract average ordinary folks to their brand. Yet these actions have such adverse effects in encouraging a spending culture amongst youngsters for the sake of image. So then, i would put forth these questions,

1. if brands portray status

2. how do these youngsters justify their ‘big item purchases’ at such a young age

3. is the mindset of money earned to be spent?

Why would they think otherwise when most of their time are spent plastered to social media watching their influencer role models constantly flexing their newly bought designer LV bags?

While we do not mean you shouldn’t buy brands like these (because then, economics enthusiasts will then question our standpoint), we think it is important to know the fundamentals and motivation behind your purchases.

What Can We Do to Shape These Mindsets?

I always say, if your environmental influences are stronger than your own mindset, then influenced you will be! To address this, perhaps asking ourselves these following questions would help give clarity in the fundamentals behind your purchases.

1. Do brands portray status?

Even the richest people in the world – Jeff Bezos, Bill Gates, Elon Mask, don’t flex their material goods and luxury items. What is status to you then? Does having status mean owning luxury possessions such that it creates and portray a “feel good” image for ourselves? This lifestyle creep is scary because it makes one feel validated when “wants” become “necessity”.

At the end of the day, if you are living pay cheque to pay cheque to feed your need for luxury apparels, these material goods do not put a roof over your head. You define who you are, not the brands you wear.

2. Is it justifiable to purchase these items at such a young age?

What achievements or milestones would justify you to purchase a $330 Balenciaga t-shirt? (I can eat 5 Hai Di Lao meals and probably cover my lunch expenses for the month) A birthday present? A reward for hard work done? First paycheque? Again, I am not against buying luxury brands. Go ahead if you can afford it or for a 1 time splurge every now and then but don’t cut a pound of flesh just to look “drip” and “fleek”.

You can argue that this is every individual’s perceived value of materialism and if you really want to geek out on economics, level of utility. But we’d put all these arguments to end when you are a non-working student dressing to impress to gain validation. In comparison, a Uniqlo shirt would only cost up to $30+ and quality wise is equally comparable. Ultimately, we need to realise that luxury brand and possessions do not define who we are.

3. Do you earn just to spend?

If we spend everything that we earn, then what do we have at the end of the day? We end up back to the grind, working and living pay cheque to pay cheque. Is that what life is all about?

If we plan to fail, then we fail to plan. That is why we believe and advocate that financial literacy should be inculcated from a young age. Young people should learn that financial planning for the long-term is important.

If your answer to all of the above is “YES”, I think there is a need to take a step back to understand why you are doing what you are doing.

Is the Flex Culture Here to Stay?

With the increased use of social media and the upcoming generations being one with the internet, this culture will intensify and develop.

Only by knowing how to shape our minds to what our end goals are, only then can we truly be a step closer to our financial goals.

Till next time – TKSL