Conspicuous consumption: The trend that will destroy your finances

What you need to know:

  • Previously, materialism was mainly manifested around neighbourhoods where residents tried to keep up with the Joneses
  • However, social media has triggered an explosion of conspicuous statuses on personal consumption

"I spend money on my projects. I'm spending money fast… I'm just from the bank!" This is what popular singer Willy Paul said as he splashed bundles of cash on his Facebook wall on Monday this week. 

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