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"Five Cs of Singapore" – namely, [C]ash, [C]ar, [C]redit card, , [C]ondominium and [C]ountry club membership – is a phrase used in Singapore to refer to materialism. It was coined as a popular observational joke about the aspirations of some Singaporeans to obtain material possessions in an effort to impress others.
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Cash
Cash refers to spending power rather than physical currency. Financial security and affluence is a status symbol and for many years was the measure of personal worth and success.
Car
Approximately 1 in 10 residents of Singapore own a car. Given high taxation on the import and ownership of motor vehicles (191% on new vehicles, an annual road tax based on engine size, and high pump prices) and a quota system requiring owners to acquire a costly Certificate of Entitlement, car ownership is a symbol of wealth and power.
Credit card
Cards are a visible symbol of success. Singapore's financial regulator, the Monetary Authority of Singapore (MAS), has stipulated a maximum personal credit limit of two months' income given personal income less than S$ 30,000, or four months' income for all others. Banks typically issue different types of cards depending on the available credit limit, associating greater cachet with cards that offer a higher limit.
Condominium
In Singapore privately developed apartments that are luxurious in comparison with those subsidised by the government convey status to the owner. Land is at a premium, meaning that freestanding houses are rare and signify even greater affluence.
Country Club
Relatively few country clubs, golf clubs, etc., are available in Singapore, making membership another indication of affluence.