To rid herself of the Monday blues, Ms Lyn Yip treats herself to brunch at Dempsey’s Barracks before attending contract law class. On Wednesday evening, the twenty-year-old undergraduate parties with her friends, drinking—$200 each—bottles of Moët & Chandon. To prepare for the weekend, she squeezes in a manicure and pedicure in between tutorials on Friday.

By the end of the week, she has spent almost $1,000. All expenses paid by her father, thanks to her supplementary card.

Ms Yip is one of an increasing number of youths who lead extravagant lifestyles because they have a supplementary credit card. Such cards offer credit limits of up to $60,000 depending on the main card holder income. And some parents allow their children to spend as much as they please.

“I guess I don’t realise how much I spend because all I have to do is swipe my card and the deal’s done,” she said. “But in my opinion, as long as I don’t go overboard, life’s too short and we might as well make the most of it,” Ms Yip said.

Her father, businessman Mr Yip Chee Hong, does not find her spending an issue. “I don’t mind that my daughter spends a bit of my money, as long as she does not take it for granted,” the 54-year-old said.

With the convenience of a supplementary card, some youths are also taking full advantage of online shopping. Take undergraduate Ms Charmaine Ong who spends much of her free time on online shopping websites such as net-a-porter.com and chickdowntown.com.

With just a few clicks of the mouse, the twenty-year-old adds a pair of Giuseppe Zanotti boots, a 3.1 Phillip Lim dress and a Luella bag to her shopping basket. At the checkout, the three items cost a total of £926 ($2,070).

“It’s a reasonable amount to pay. The three items had a 50% discount, something the local boutiques would never have. Or sometimes, they aren’t available in Singapore,” she said.

For the recent holiday season, undergraduate Ms Meaghan See prepared for parties by hitting Orchard Road. She went to boutiques and high-end shops to find a dress to wear for each lunch or dinner party. By Christmas Eve, after spending $800 on her supplementary card, she had three new frocks to choose from.

“At these functions, it is important that no one wears the same dress. So I can’t just go to the usual shopping spots like Topshop or Forever 21 or Guess,” the twenty-year old said. “But I always show my mum what I buy, to make sure she’s okay with it. If not, I’ll go back to the shop and do an exchange.”

Despite what many consider a large sum of money to be spent on material goods and food, these youths are well aware of how much they spend. Often, they come from well-to-do families with their own businesses and have planned on taking over. Those interviewed for this story are currently majoring in degrees such as law, business and economics.

When asked whether they could afford such lifestyles once they are financially independent, both Ms Yip and Ms Ong were confident that they could maintain their current spending habits.

“I’m not reckless in my spending. I know my limits. I know how to judge whether it is worth to pay $500 for a pair of shoes or not,” Ms Yip said.

Ms Ong added that not all of the luxury goods that she purchases are paid by her father, nor does she expect her father to agree with her on the amount that she spends on certain items.

“For the past six months, I’ve been saving up to pay for my 21st birthday party. I am aware that to have a party of 40 people at a fine dining French restaurant will cost almost $10,000, so I’m prepared to pay most of the cost,” she said.

Since July 2006, banks have been issuing supplementary credit cards to those aged 18 and over – down from the previous minimum age of 21. For banks, this has allowed them to reach out to a previously untapped customer base.

According to the Monetary Authority of Singapore’s Credit and Charge Card statistics, there has been an 11 percent increase in the number of supplementary cards from 2006 to 2008.

Some parents believe supplementary cards will give their children the experience of handling finances before qualifying for their own credit card. But others are aware of the possibility of overspending.

Marketing director William Fong, 55, said: “If my daughter goes over the agreed limit of $500 a month, I’ll just take the card away for good.”

Ms Stephanie Fong, 21, an undergraduate, has a supplementary card but does not swipe the card unnecessarily. She only uses the card to pay for school-related purchases such as buying a laptop, paying fees or when she needs an advance for her allowance.

“I’d rather pay for the things that I buy, rather than have my dad question what I spend his money on when he gets the bill at the end of the month.”

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