Personal Finance

How a free canvas tote became a bigger status symbol than a $10,000 Hermès bag

Louise Linton, the wife of Treasury secretary Steve Mnuchin, carried an Hermès Birkin bag worth roughly $ 10,000 on her arm in the ill-fated Instagram post that got her slammed for “flashing her wealth” — and then lecturing a critic about her “sacrifices.”

But status symbols don’t have to cost as much as a luxury purse. For the price of a $ 6 magazine subscription, you can get a bag that carries just as much weight as a social signifier. It’s the New Yorker magazine to… – All MarketWatch News – Personal Finance