Competitive thrift is the new spending – why it’s all about being seen to buy less

Competitive thrift is the new spending – today it’s all about being seen to buy less By Helen Kirwan-taylor A wealthy father at my son’s school recently swapped the oversized Bentley for a more modest Lexus. Another father who, a mere two years ago, flew PJ (private jet) was talking about how his wife had recently taken easyJet. The Porsches are parked further and further from the school gates while the parents on bikes pitch up in front of the headmaster. Belts may be tightening and the economy crashing, but the competitive streak is still alive and well. Thrift, not excess, is how we show each other up these days. Gone in my neighbourhood are the Whole Foods bags and Royal-sealed fish delivery vans. Four years ago, the race may have been on for who could land the Kelly bag first: these days it’s more who can get rid of it... [read full story]