Luxury On A Budget

Remember when a latte or a boutique workout class felt like a treat? Now, they’re part of a routine. Somewhere along the way, these “little luxuries” have become everyday needs. Coffee runs are now morning rituals, workout classes have become an identity and skincare routines signify self-worth. It’s not about buying a product, but buying an identity. And brands know that identity sells. 

From pairing Pilates classes with matcha lattes for the “clean girl” aesthetic to sipping pumpkin spiced lattes when our country doesn’t have autumn, brands are capitalising on mood boards, lifestyles and yes, if you’re fluent in TikTok semantics, every emerging “-core”. And we’re falling for it because honestly, who doesn’t want to belong? 

Gen Z is a demographic shaped by micro-trends 

Gen Z is the first generation to be born into digital technology. Communicating through social media and other digital channels are second-nature to many, if not most, Gen Zers. Often labeled as the “most woke generation” for their outspokenness on social injustice and political issues, they are also a demographic deeply shaped by a constant stream of micro-trends. These trends don’t just influence their aesthetics but possibly shape their values, desires and perception on what those “little luxuries” mean.

During the pandemic, the Korean “Dalgona coffee” was all the hype. We’ve seen thousands of TikTokers and content creators create their rendition of this drink which birthed the aesthetically pleasing drink recipe videos under the TikTok sub-group “coffee-tok”. It didn’t take long for it to transform into “matcha-tok”. 

When the clean girl aesthetic first came out, it took over TikTok before spilling over Instagram feeds everywhere. At its core, the “clean girl aesthetic” is all about appearing effortlessly put-together without seeming like you’re trying too hard. It extends beyond appearance, influencing lifestyle choices like diet and wellness. However, what began as an aesthetic trend evolved rapidly into an identity that may be unattainable for many. This trend’s influence grew so strong that it even contributed to a global matcha shortage. In Japan, several matcha stores have started limiting purchases to one tin per visit as supply struggles to keep up with soaring demand. 

The Real Cost of “Affordable” Luxury 

Having to keep up with these luxuries is taxing not only to the wallet but also to the mind. Many young adults juggle BNPL (Buy Now, Pay Later)  apps and credit cards to live the curated lifestyle. As of October 2024, 53,000 Malaysians under the age of 30 were struggling with debt worth nearly RM1.9 billion according to the state-owned Credit Counselling and Debt Management Agency. Ultimately, it’s not a great trade-off. Is being financially stressed at a young age worth the curated image? 

“The allure of BNPL is particularly strong among youth, who may use these schemes to finance big-ticket items such as the latest smartphones or laptops – purchases that may otherwise be beyond their immediate means,” said Doris Liew, an economist with the Institute for Democracy and Economic Affairs to BenarNews. 

Hey, it’s totally OK to have some retail therapy or sweet treats once in a while too. Just do it within your means! Because when you’re not, those little luxuries are going to pile into little financial regrets that your future self is going to pay for. 

Let’s look at it from a different perspective: what if these luxuries—your caffeine fix and curated fitness classes—can be done at home for a fraction of the price? And the money once used for these luxuries can be put into better investments? 

An average cup of joe or matcha should be around RM10 to RM16, and if you have it every day, that’s about RM300-RM400/month. These are potential investment savings that you can redirect to building wealth because as delicious as your iced matcha is today, it’s not going to secure your financial future.

Curating Comfort in Chaos

Social media makes aspiration look irresistibly good. Your vision and mood boards are telling you to live it to become ‘it’. A digital manifestation of some kind, perhaps. It’s meant to be empowering, a way to define who you are. But scroll long enough and you’ll start to realise most are chasing after the same aesthetic. And that’s okay too.

In a world where everyone seems to be shouting their lifestyles and opinions at you via social media (and in real-life), curating your own aesthetic can feel like control. But true stability and control come from living within your means. It’s about making smart financial decisions to not get burnt out in the long run. Isn’t it better to have your money work for you than against you? 

You can still have your matcha, your fitness classes and skincare hauls. Just do it within your means and not just looking like you can. Real luxury is having peace of mind with your finances and not monthly PayLater bills. If you’re looking to invest, start comparing between all the investment platforms via iMoney: https://www.imoney.my/online-investment