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This is really insightful. If anyone's getting hung up on 'not spending that money on groceries' try swapping 'iPhone' for "Suit you could wear to an interview".

Now do you think it's a waste of money? The function is very similar: an item that visually identifies you as part of some socioeconomic group.

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The suit will get you a better paying job. How many of those buying expensive shoes are using them in a way that they are expected to pay off like the suit does? I'm not saying it is impossible, only that it doesn't apply in most cases.

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