The $38,000 hand bag: if you had more money, how would your lifestyle change?

[Warpy]

98. I have enough

If somebody dumped a hundred million on my back, I'd be looking for ways to give the overage away. I really don't want that kind of burden.

Unfortunately the dollar amount is different for everybody. The usual figure given for "enough" among bottom tier workers is $50,000/year.

When the brunt of the collapse hit in 2009, I started to see things like designer handbags at yard sales. The owners thought they'd still get designer prices for them and be able to meet the mortgage payment that month. They were wrong, the things sold for what a decent used bag from JC Penney would have sold for, and they were also shocked.

The difference between this and the absolute upper wealth holders is that everything the top buys is art, mostly one of a kind objects and specially made for them. That extends to their ball point pens and toilet paper holders. There is no difference in function between those and Bic pens and paper holders from Wally's. Or handbags from JC Penney or Etsy. The only difference in the items is in name and price, chosen arbitrarily by the rest of the 1%.

If Oprah shopped at Penney's, the rest of her crowd would make fun of her just like a clique of mean kids in high school. So she pays $38,000 for a stupid handbag when it would be cheaper to hire somebody to follow her and carry all her junk so she is unburdened.

Now that would be real conspicuous consumption.