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Do You Buy Designer Clothes?

Name: Do You Buy Designer Clothes?
Uploaded: 2022-01-25T22:18:38+00:00
Duration: 24 s
Channel: Shanli Liu, CPA, CTP
Description: In this segment, Shanli Liu, CPA, CTP explains that she refrains from purchasing genuine designer apparel until her business generates a net free cash…

25 Jan 2022 · 0 min

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0:24

In this segment, Shanli Liu, CPA, CTP explains that she refrains from purchasing genuine designer apparel until her business generates a net free cash flow of $1 million per month after taxes. She argues that buying high‑end items while earning a modest income creates a credibility problem: observers either assume the luxury piece is counterfeit or dismiss it because they perceive her as financially limited. To avoid this mismatch, she prefers to wear replicas, which can be perceived as authentic when paired with inexpensive clothing, rather than a single genuine designer item that would appear out of place with low‑cost garments like Forever 21 jeans.

I didn't buy designer clothes until we were taking out of the business net free cash flow after taxes $1 million a month. And the reason I didn't do that is because you're not making a couple hundred grand a year take home after taxes. I don't see the point in buying designer because nobody's going to even know it's designer because they think you're poor, right? Or they know how much money you're making, so they're going to assume it's fake. Like, I don't want to get one piece of Chanel and then be wearing it with like, you know, freaking Forever 21 jeans, whereas I could wear something fake and people will assume that it is real because I have a lot of money.