Like everyone else, the rich enjoy the finer things in life such as jewelry, fine clothes, and of course the highest quality alcohol and care products that money can buy. However knowing where the rich spend their money in a year is an incredibly interesting subject as many of them are known to purchase things directly from shops rather than simply ordering them online. These fabulously rich Singaporean’s don’t hold back when they spend throughout the year, and you can bet that they won’t be slowing down any time soon with their high net worth’s.
There are many things that the Singaporean rich spend their money that will leave you in awe when looking at the percentages of where their money is going. For instance, over the last 12 months 16% of the richest Singaporean’s money goes into Airline tickets, 12% into travel experiences, 12% to hotels, and 10% into entertainment. It is even more shocking that only 8% goes to home electronics, 7% to jewelry, 7% for watches, 5% to cars, 5% to designer clothing such as Gucci and Calvin Klein, and 4% to Alcohol. The final 14% of their spending is split between cruises, skin care and make up products, designer accessories, and tablets and smartphones.
What Kinds of Things Do They Buy?
Out of those who answered the survey there were many who said that they purchased many of the same brands of products. For instance, 25% of the rich who answered the survey said that they bought BMWs. Other brands that were purchased by the rich include that of Tiffany and Cartier, TAG Heuer, Rolex, Martell, Johnnie Walker, Chivas Regal, Hennessy, Remy Martin, Montblanc, Ralph Lauren, CK, and Gucci. They even put money into financial services such as DBS and skincare such as SKII.
One thing that the Singaporean rich all have in common is spending their money on quality products from all over the world. The joy they have with the luxuries that their lifestyles have afforded them is only a small bit of where their money actually goes as they spend it throughout the year. And not only is some of their spending behind closed doors, but the likelihood that much of their luxury item percentages may even be a little askew as there are many other luxuries that may not have been counted on the survey that they took.
While the Singaporean rich have far more money to spend, a great deal of their spending isn’t that different from normal everyday people. The major difference is simply in the brands purchased and the number of purchases made in a single year. They enjoy the better things in life because they have worked hard to achieve their goals of possessing this excess of finances and being successful in their chosen business ventures. Though to think of all the fun that could be had with as much money as the people who participated in this survey for a single day.