facebookIs it true that those who spend extravagantly are actually broke? - Seedly

ST

14 Sep 2023

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Is it true that those who spend extravagantly are actually broke?

Is there truth in this image? But I am not convinced as maybe they night earn very high income and also they might have a regular saving plan.

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In general, yes.

the infographic is explaining types of people use money to buy what type of products.

It depends, because they might buy some good quality pieces which last longer as well.

How people dress on the outside is not directly related to how wealthy he/she is.
But
Wealth does determine the upper limit of what he/she dresses in. If your friend is dressed in luxury items and in different styles every day, he/she is probably really rich.

The notion that individuals who spend extravagantly are actually financially broke is a common perception, but spending habits and financial stability can vary significantly among individuals. I dont think there is a real trend towards either side of this idea or I have not come across any data that suggests so.

Chin Guo Qiang

18 Sep 2023

Assistant Vice President, IT EUC at OCBC

It depends on the individual mindset, it can be just self-indulgence for that moment, right after sa...

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