Economic stress hasn’t stopped citizens from splurging on image and indulgence, often at the expense of essentials.
When the going gets tough – and it’s not exactly all sunshine and roses at the moment – then, as the Sandton cynics would say, “doll, the tough go shopping”.
Although most of the money we earn goes on housing and food, South Africans are experts at living for today and to hell with tomorrow.
Many, as we report today, splurge on things that could easily be avoided.
According to a 2023 study by the Bureau of Market Research, we spent R176.7 billion on entertainment and media in 2022, with projections this will hit R231.2 billion by 2027.
“Eat, drink and be merry for tomorrow we die” is the kind of fatalism which leads to alcoholism, gender-based violence and just plain bad citizenship.
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But then, a worryingly high proportion of discretionary spending (cue laughter in the background from those who don’t have any) is spent on image – flashy cars, flashy clothes and extravagant parties, often at the expense of basics like decent housing, education for the kids or, certainly, provision for retirement.
At the extremes, some of the consumption by our rich elites is, for want of a better word, nauseating.
You could always save – or give some to charity.
No? We didn’t think so.
