“Keeping up with the Joneses” refers to the habit of comparing ourselves to the people around us in our social circle. It’s about measuring our success or wealth against the material possessions and lifestyle others display, often leading to unnecessary spending to keep up appearances.
In every society, keeping up with the Joneses takes on different forms. In some places, it might mean enrolling your children in prestigious private schools, while in others, it could involve owning a second property for holidays. What defines “keeping up” often depends on the societal norms and values of the community, shaping what people see as signs of success.
So how does keeping up with the Joneses look like in Singapore?
Owning A Luxury Car
When it comes to car ownership in Singapore, people generally fall into three groups:
The first are those who don’t find it necessary: This group sees car ownership as optional due to Singapore’s excellent public transport system, which includes buses, MRT, taxis and private-hire vehicles.
The second are those who see it as a necessity: These individuals may feel owning a car is essential, often due to family needs, such as transporting young children or elderly parents.
Finally, they are those who view it as a status symbol: For this group, owning a car—especially a luxury one—is a way to showcase their success.
Given that Singapore is one of the most expensive countries in the world to own a car, it’s easy to see why a luxury car is such a strong status symbol. For example, owning a Mercedes-Benz E-Class Saloon or a BMW 5 Series Sedan, each costing upwards of $350,000, is equivalent to the price of a small resale HDB flat. Few other purchases in Singapore make as bold a statement about wealth and success as a luxury car.
Frequent Holidays To Popular Destinations
In Singapore, travelling isn’t just about spending quality time with family and friends—it’s also a way to showcase how we’re spending our precious time away from work or school.
But the bar for travel has been raised. A short drive to Malaysia or a quick ferry ride to Bintan no longer cuts it for some Singaporeans. Instead, extravagant holidays have become the norm, including winter getaways to Europe, extended trips to Japan (yet again) or even long-haul flights to the U.S.
And with so much spent on these trips, it almost feels obligatory to share them on social media, ensuring your “friends” know exactly where you’ve been. Bonus points if you’re flying business class or better—preferably on Singapore Airlines.
Enrichment & Tuition For The Kids
It might be surprising, but for some parents in Singapore, enrolling their children in the right enrichment and tuition classes has increasingly become a way of keeping up with the Joneses.
Unlike gaining entry into prestigious schools—which might require stellar grades or relocating to improve ballot chances—getting into branded enrichment or tuition centres usually only requires the ability to pay the fees, though some centres still conduct preliminary assessments.
Interestingly, waiting outside these popular enrichment centres often feels like a gathering of like-minded parents. Many share similar postal codes and comparable interests and lifestyles, making these centres a hub for social alignment as much as educational advancement.
Owning Private Properties (Or Even Multiple)
Over the years, Singaporeans’ fascination with private properties has remained strong. Whether it’s purchasing a condominium to enjoy its amenities, banking on potential profits from rising property prices, or generating rental income, owning private property—or multiple properties—continues to be viewed as a hallmark of success.
This perception persists even though most Singaporeans (around 80%) live in public HDB flats. For many, owning private property signifies a step above the rest, representing financial achievement and status in a society that places a high value on real estate.
Read Also: Is The Condo Dream Getting Increasingly Harder To Achieve For Singaporeans?
Focus On What Truly Brings Us Happiness, Not Just What Makes Us Look Good
There’s nothing wrong with owning some of the nice things and enjoying the unique experiences highlighted in this article. If you aspire to have them, they can be worthwhile goals to work towards, motivating you to excel in your career.
The real problem arises when we spend beyond our means to keep up with appearances. This inflates our lifestyle unnecessarily and can lead to financial instability. For families, this could mean having to downgrade your lifestyle later, which can also impact your children.
The wiser approach is to focus on spending money on what genuinely brings happiness and value to your life. If long trips or supporting your children’s interests enrich your family’s well-being, then it’s worth spending within your means on those experiences. If owning a car allows your family to spend more quality time together, go for it—provided it’s financially sustainable. If a bigger home is what everyone dreams of, plan towards it!
There’s no one-size-fits-all formula for how you should spend your money. The key is to align your spending with what truly matters to you, not what others expect. Prioritise what brings you joy and fulfillment, and let that guide your financial choices.
Read Also: The Average Singaporean Dream: The Realistic Version Of The Traditional 5Cs
Image by Suyash Dixit from Pixabay
The post What Does It Means To Be Keeping Up With The Joneses In Singapore? appeared first on DollarsAndSense.sg.
