James Gandolfini as Tony Soprano and Edie Falco as Carmela Soprano seek advice in the hit TV series “The Sopranos” (Year 3) on HBO.
HBO | Hulton Archive | Getty Images
While keeping up with the latest fashion trends may seem increasingly difficult, young people like it that way, explains Tumay Syrdari, professor of marketing and director of the Fashion and Luxury Program at New York University's Stern School of Business.
“The fact that we have such an accelerated shift from one trend to another has to do with Generation Z because they want to put their name on everything,” she said.
In the wake of the financial crisis, “people with money wanted to be a little more submissive,” Syrdari said. In the decade and a half since then, fashion has gotten bigger and bolder, she added.
More personal finance:
What to know before taking tips from TikTok
Generation Z says it's harder than their parents faced
Why can't today's chicks leave the nest?
The hidden wealth approach was born after the pandemic, as Americans' economic circumstances became increasingly divided during the so-called K-shaped recovery, which left the wealthiest Americans better off than before.
Now, if young people have money to spend, they put it on display, regardless of whether they've got a side gig to help make ends meet, Syrdari said.
“This shows that young people have not lost their taste for extravagance,” she said.
“But I also see a little bit of irony in it,” she added. “You can show that you have money, even if it comes from an unconventional route.”
Although Carmela Soprano's character wasn't necessarily frugal, customizing her style cost a lot less than Gwyneth Paltrow's post-movie, laid-back luxury look. Skiing accident trial Last March.
For her daily courtroom appearances, Paltrow wore high-end brands such as Celine and The Row as well as $1,450 black Prada pumps.
Today's “mob wife” aesthetic is less about cashmere sweaters and camel-colored coats than it is about bold accessories like gold earrings, a leopard-print jacket, or vintage fur.
While some of these items can still come with a hefty price tag, much of the look can be achieved by thrifting at local or online resale stores.
However, “trends come and go, and if you're constantly updating your wardrobe based on trends, it can get expensive,” says Carolyn McClanahan, a certified financial planner and founder of Life Planning Partners in Jacksonville, Florida.
McClanahan, who is also a member of the CNBC Board of Advisors, suggests purchasing some well-made items, such as a black silk blouse, which you can add to your wardrobe and update to fit future fashion trends.
Additionally, use vintage pieces for a “glamorous and bold” look, advises McClanahan. Shopping second hand is not only economical, it is increasingly becoming a style.
“Lifelong beer expert. General travel enthusiast. Social media buff. Zombie maven. Communicator.”