cover of episode Flex culture: Is shopping addiction driving Malaysia’s youth debt crisis?

Flex culture: Is shopping addiction driving Malaysia’s youth debt crisis?

2024/11/22
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What in the World
People
B
Bryan Chen
D
Doris Liu
H
Hannah Gelbart
L
Leeloo Larcombe
P
Pete Yong
Topics
Hannah Gelbart指出，根据政府调查，超过70%的马来西亚年轻人背负债务，主要原因是购物成瘾，这与消费主义和炫富文化（flex culture）有关。 Leeloo Larcombe作为时尚和生活方式网红，描述了马来西亚的购物文化，以及她本人与购物之间的复杂关系。她认为，许多年轻人面临着炫富的压力，容易沉迷于购物，而先买后付（BNPL）应用的普及加剧了这一问题。她还谈到，马来西亚有很多品牌，更容易让人产生购物冲动。 Doris Liu作为经济学家，解释了疫情期间先买后付模式的兴起，以及年轻人被其吸引的原因。她指出，缺乏监管和透明度也加剧了问题。 Bryan Chen作为Sneaker-LAH的联合创始人，分享了他自己的球鞋收藏成瘾经历，以及由此导致的债务问题。他认为，球鞋转售市场也助长了这种成瘾行为。 Pete Yong作为理财专家，提供了摆脱债务的实用建议，强调储蓄的重要性，以及改变消费观念和处理个人情绪的重要性。他认为，解决债务问题需要从个人理财规划入手，改变消费观念，并注重心理健康。 许多受访者都认为，社交媒体在一定程度上助长了炫富文化和购物成瘾，但同时也提供了解决问题的途径。

Deep Dive

Chapters
A major government survey reveals that over 70% of young Malaysians are in debt, primarily due to shopping addiction. This is exacerbated by 'flex culture' promoted on social media, where people flaunt their wealth. The episode will explore this issue through interviews with shopping addicts and financial influencers.
  • Over 70% of Malaysian youth are in debt.
  • Shopping addiction is the leading cause of youth debt.
  • Flex culture on social media worsens the problem.

Shownotes Transcript

According to a major government survey, more than 70% of young people in Malaysia are in debt. Officials say shopping addiction is the number one reason why.

Social media feeds that addiction by promoting “flex culture” — the desire to flash your wealth in person and online. Leeloo Larcombe, a fashion and lifestyle influencer, tells us about Malaysia’s shopping culture and her complicated relationship with it. Bryan Chen, the co-founder of Malaysia's biggest streetwear convention, Sneaker-LAH, explains how his shoe addiction has at times left him in debt.

The rise of buy now, pay later (BNPL) schemes also encourages people to live beyond their means. Doris Lieu, an economist at the IDEAS Malaysia think tank, explains how these schemes grew in popularity during the pandemic and why young people are attracted to them.

Finally, Pete Yong, the financial literacy expert behind the popular Mr Money TV YouTube channel, offers some practical tips to help people pull themselves out of debt.

Instagram: @bbcwhatintheworld WhatsApp: +44 0330 12 33 22 6 Email: [email protected] Presenter: Hannah Gelbart Producers: William Lee Adams and Benita Barden Editor: Julia Ross-Roy