The world of the rich and wealthy__ why throw away money?

[D_Fluoridia Bidet]

Sometimes I seriously wonder about the mind of really rich people. I mean I make money but damn why waste it on crazy shit. I remember walking into this store called Saks 5th Avenue and I was like man this store is so awesome everything is cute. I am thinking it's one of those typical clothing stores like KOHLS. I picked up a pair of jeans and checked the price tag and it was $355. The brand was Dolce and Gabana and I am like who the fuck is Dolce and Gabana? I was like this is stupid I had to notice my surrondings bunch of silly rich bitches walking around giggling spending on daddy's credit card. I mean who throws money away like that on jeans? $355 is my light bill what the hell. Then the manager had the nerve to follow me around asking if I was going to buy something? What a douche bag.

Then it happened to me again unknowingly I had walked into another 90210/ The OC store. Basically I was looking at handbags and it was a leopard print bag. I happen to look at the price tag once again and it said $840.00? I was like no way maybe $84.00? The bag was by Fendi what or who is Fendi? I am like who waste that much money on a bag. Then I said something like this is bullshit I am taking my ass to walmart what a waste and some dude just laughed at me.

Sometimes I do wonder why do rich people spend money like that. I mean I am not hating but that's money I can spend on a family that's hungry needing clothes and shelter. Why do they waste money? I am puzzled?

 

[SpoiledPrincess]

I feel that someone who has to spend thousands of dollars on a designer bag, hundreds on designer clothes, who has to have everything she/he owns stamped with a designer label is either a sheep or deeply insecure and feels that by wearing labels that have cachet he/she acquires some of that cachet.
I don't buy cheap clothes, if you buy cheap clothes cheap is what you get, but spending a fortune on something doesn't necessarily indicate it's made or looks better on.

 

[Mem]

The good thing is that it puts money into the economy.

 

[B_Edward Yawn]

Because rich people are not content owning/using/wearing things that poor or middle class people also buy. Once you get to a point where you have so much money that you don't know what to do with it, you start spending madly on things you do not need. What else is there to do? They have more money than they need, so they spend it on expensive stuff. The ultimate way of showing off your wealth and confirming to yourself you are rich, is to buy expensive things ordinary people can not afford. You can find home stereo systems which are more expensive than a Lamborghini or Ferrari. Nobody needs a $350,000 set of amplifiers (yes, they do actually exist) but Mr. Yacht Boy is not satisfied with the same 500 dollar amplifier which Joe Average and Johnny Sixpack have in their living rooms. Nobody needs a $15,000 watch either. But when you have extra money to burn, it is a good way of buying class. If millionaires started living in small worn-out apartments, wearing worn-out old jeans, buying second-hand clothes, wearing 20 dollar watches and driving old worn-out Toyota's, then what would be the difference between them and other people? They have to somehow show they are rich. Rich people buy obscenely expensive stuff they don't need for the same reason dogs lick their own balls: because they can.

 

[SpoiledPrincess]

I was fairly well off for years, I never felt a need to spend £1000 on a bag.

 

[DaveyR]

I was fairly well off for years, I never felt a need to spend £1000 on a bag.

Exactly she'd be just as satisfied if you spent £10 on her at McDonalds.

 

[SpoiledPrincess]

That sounds like a hot date

 

[viking1]

Because rich people are not content owning/using/wearing things that poor or middle class people also buy. Once you get to a point where you have so much money that you don't know what to do with it, you start spending madly on things you do not need. What else is there to do? They have more money than they need, so they spend it on expensive stuff. The ultimate way of showing off your wealth and confirming to yourself you are rich, is to buy expensive things ordinary people can not afford. You can find home stereo systems which are more expensive than a Lamborghini or Ferrari. Nobody needs a $350,000 set of amplifiers (yes, they do actually exist) but Mr. Yacht Boy is not satisfied with the same 500 dollar amplifier which Joe Average and Johnny Sixpack have in their living rooms. Nobody needs a $15,000 watch either. But when you have extra money to burn, it is a good way of buying class. If millionaires started living in small worn-out apartments, wearing worn-out old jeans, buying second-hand clothes, wearing 20 dollar watches and driving old worn-out Toyota's, then what would be the difference between them and other people? They have to somehow show they are rich. Rich people buy obscenely expensive stuff they don't need for the same reason dogs lick their own balls: because they can.

I pretty much agree with your assessment. It's all about excess and overblown egos and exclusivity. I wouldn't know for sure, though.

I can, however, tell you about the world of the "working butt off for nothing class"...

 

[Male Bonding etc]

Well, first off, you can't generalize about the rich any more than you can generalize about any other group. Not all rich people are busily throwing away money on stupid, frivolous purchases.

However, Ed Y. makes a point about the power to buy distinction. Sadly, given the wherewithal to buy real distinction, some merely buy symbols, expensive symbols. In the end, some rich people are just as susceptible to marketing as the next person, but they can be manipulated into buying the big ticket items because they think their cash is buying distinction.

 

[SpoiledPrincess]

You can't buy class

 

[ledroit]

Shopping? you are chatting about shopping on LPSG?

 

[Male Bonding etc]

Princess:
You can't buy class

EXacctttly, my dear.

 

[SpoiledPrincess]

Why, is it taboo?

 

[Mem]

Self made millionaires are less careless with their money than those that inherited it.

 

[MidwestGal]

You can't buy class

exactly and you do not have to have a designer handbag to have class. If you carry yourself well and are intelligent you should do just fine!

 

[Male Bonding etc]

Self made millionaires are less careless with their money than those that inherited it.

Oh, so now we can generalize that the noveau riche are more careful than the ancien riche? Perhaps this is true, but this seems to be a value statement more than one based on fact.

 

[Quite Irate]

I'm really contemplating whether or not I should enter this thread...:redface:

 

[Osiris]

It's crass boredom at it's best and to be quite honest, it's the Nouveau Riche that spend like idiots. The true old money is prudent. If they spend it is on investment potential or philanthropic interests (ie: art, museums, public works, etc.) They already have the toys they want and don't need Dolce jeans to prove they are of the priviledged set.

All the labels and such are like dog collars for the stupidly new wealthy ones.

My mother used to say...

"How do the rich stay rich? They don't spend foolishly."

 

[Male Bonding etc]

While you're contemplating, QI, let me also throw in that there are a whole lot of wannabe rich folks who may buy the expensive crap in the misguided belief that they will look rich... Okay, QI, was that enough time? Ready to jump in yet?

 

[YourAvgGuy]

I agree that people can be classy and sophisticated without spending a fortune. However, I don't think people have a right to cast judgement on those who do like designer clothing, shoes, handbags, or those who funnel more money into the economy because they are able to afford it. Does it mean they are shallow? No. Does it mean they spoiled? No. Does it mean they are gullible or not good stewards of their money? No.

People spend as they like. People likewise live as they feel they can. Sometimes too extravagantly, yes, but nonetheless as they want. Who are we to set a standard as to what is appropriate or not.

My wife and I like designer clothing. I wear DG; so does she. I own a Fendi watch; she has a Fendi bag as well as Coach, Prada and many others. We live in a house that by many of your standards, as it appears here, is wasteful spending. We travel a lot internationally. I dare say that we feel high and mighty or set ourselves apart from others. We are not those types of people. We are blessed mid-class family who enjoy nice things. We do know our limitations and spend accordingly. And, for the record, we do shop at the Dollar General or way discounted stores, too. It is absurd, I think to be so stereotypical in assessing people by what they spend. That is only surface exposure!

It is not fair for clump people into groups.... It continously shows intolerance.

Just my opinion.