Topic: Do you have Same problem or you know someone who got same problem?To spend money (Read 774 times)

Very often people associate a life of extreme luxury with being rich, and while that can be the case, the most important thing about being rich is your ability to afford the very best and improve your life that way.

After all, someone that is rich can afford to buy the very best food, medicines, medical service and other important stuff, assuring that not only they will live longer than the average person, but that they will also have a better overall health as well.

Ability will lead someone to achieve anything and why people say skill is important because that is how we can achieve success.
A person's ability is indeed different and with knowledge people can increase their ability to achieve whatever they want.
Different views and mindsets between each other and it is based on the mindset that is instilled so that the direction of someone to achieve success is different.

Back to the individual in seeing the problem and how they solve it all with suitability.
Why do I say this because sometimes we do not realize that spending money inappropriately can cause problems.
On the contrary, rich people spend money according to their ability to produce, money will not be productive in the wrong hands and there will be no stable returns.

That is different and maybe the discussion we are discussing is not related to this, I see someone with a different view.
For example, we have an income of $ 1000 per week, then how can the money be maximized, either for daily shopping, investment or savings.
This is the system that needs to be built so that people can spend money according to their needs, not to fulfill their lifestyle in an uncontrolled way.
Why rich people get richer because they have a plan for every money they have and they understand much better how to multiply money compared to spending on unnecessary needs.

When we say rich, those people have definitely secure an access to luxury in life, and I think they have all the right to that because they are only spending their own money and not begging for other people, so obviously it should never be other people's issue.

Now, what we should do is to focus on how will we get rich and when will that happen, rather than making an issue on how those wealthy people spend their money.

What wealthy people do with their money is rarely my issue, I barely survive and there is a saying "when it rains it pours" which is true in my case, I said this month was the last month that we had any financial issues, turned out not so much and still in trouble a lot longer. In the end, if a wealthy person doesn't know how to spend their money, then that is on them and I do not think that we are dealing with anything that makes any sense for me at all.

I think the reliable thing would be focusing on your own life, do not "get ready when you are rich" because considering the situation very few people will go from normal to very rich, get ready for a normal life and just make sure that you do not miss life.

Both save, but also live, do that together and you will be fine, too many people dream of becoming rich, so much so that OP literally asks how to avoid these luxury stuff when we get rich when we are not even rich yet, that makes absolutely no sense. You know what I want to be able to have when I get rich? A full coverage health insurance, meaning that I can be ANY sickness ever, and go to hospital, do not pay a single dollar and leave, I want that insurance, that's my luxury.

I think ability is not the right word to use but maybe capabilities, and knowledge or understanding. They are still close with each other and you are right even if we can't exactly feel what others are feeling because maybe our knowledge or capability is more than what they currently have or it can be higher than on what we have, though I think there are some exceptions or some people like for example poor but has a wider view in things in this world.

This is good and they have a big chance to change their life if they will team that thinking with a proper action. As you can see, I didn't mentioned money there but that's already understandable. There's also rich people who doesn't think or see things really well, so we can also say that it doesn't really depend on how one spends their money.

Each has their own choices in life and as long as it is not wrong or they don't use the money on illegal drugs, alcoholic drinks, gambling, hoes, and the likes.. we can let them. For them it's only a way of rewarding their selves for all the hardwork that they have done only to earn money. For those who are the opposite, they have their own reasons as well.

Everyone will be different in this regard, there are people who remain the same in their standard of living even though they already have a lot of money, but there are also people who want to feel more in their lives so they will adjust their lifestyle to the finances they already have.
Actually, all of that is okay and can still be done if they are still in control of their finances.
And I think this is also okay, as long as he is able to handle and be responsible for all his desires.
And the matter of going bankrupt because of fulfilling all desires or luxuries is a risk, and not everyone will be like that.

A lot of people think they have financial intelligence when they are broke but when they have some money they tend to deviate from what they know, why does this happen?? It's because money amplifies your character and desires, I know someone who used to be broke and through out that phase he talked about business ideas he had but when he made his first millions he forgot about everything and got completely carried away by the luxurious lifestyle till he lavished everything he had..how can someone with 10 million naira try to live the lifestyle of someone that has 10 billion naira, it's crazy but this is what a lot of people do, they start living a luxurious lifestyle they aren't capable of keeping up with for even 2 years... if you can't buy anything  twice or comfortably you can't afford it

But if you don't have funds to purchase those expensive luxury and other things, you don't need to come close to such lifestyle in your community, because it will lead you to premature death which I have seen many people who what to live such lifestyle, but they didn't end well in the community based on they don't have the funds. Some of the people that is using all those expensive luxury, they have different sources of income that is helping them to maintain all those expensive luxury things which is the reason you see them living a good life without a single fear of their lifestyle they chose to live. Don't forget that some leaders, investors, politicians use all those expensive luxury, influencer, high class of wealth to get richer, because I have encounter with some wealthy people to caution them about such expensive lifestyle but they made me to understand that such lifestyle is part of their source of income.

It's different because the human perspective sees things based on their own abilities, especially regarding how they spend money.
I know some friends and if you look at their ability to make money, it can be said to be quite standard, but they choose a slightly more luxurious lifestyle and often spend money on things that have high prices.
When asked they answer about satisfaction and the goods they buy because they really like them. When this is related to other people who live much simpler lives, they actually answer buying things based on needs that are in accordance with their use.

When they are rich, buying luxury items is something we often see and it may be true that they live in luxury.
But if there are people who insist on buying luxury items with a standard salary, it is questionable and it may not be time for them to spend money on luxury items like this.

I have to agree. People who improved their social status end up also upgrading their lifestyle, and that’s normal for us. But what isn’t normal is that you focus more on expensive material things that don’t give you profits, but they are only good to show your luxury life, hence it will never do good for you in the long run. No matter how rich or wealthy you are, the fact that you don’t know how to limit your expenses and manage your finances, and last thing you don’t know how to invest and make more money, you will definitely get doomed and end up broken. That’s already certain for those type of people who focus more on luxuries even if it means losing opportunities to invest and make more money.

Luxury brands cannot be stopped and that is the only thing that is making the so called rich people feel entitled and want to differentiate themselves from those that have not up to them. You don’t have to blame them that much if you’re not in their shoes yet. It’s like a spirit that manifest in you once you have the money to spend on these luxuries. Only few individuals are so rich that they’ve control over their money and not carried away by luxuries which of course is a measure today to make you feel different from others. The fashion industry cannot be tempered with anymore and that’s what will make the rich always feel bigger than the average that are not up to them. Luxury will never cease to exist as long as they are in for people that will always patronize them to make them feel above others.

Your ending part got my attention and I must say you’ve said it all and one thing a lot of people don’t understand is the fact that, the people you’re trying to impress or prove a point to, might not be paying attention to those things you’re trying to show to them, so why then waste our time on irrelevant things?(just think out loud).

Luxury is over hyped and misinterpreted by a lot of persons and this is because this generation is moved by threads and no one wants to be left out hence they’re willing to do anything to catch up with a happening thread.

I agree with you that people should learn to leave below their means and do more of investments rather than spending time trying to impress people that will never be impressed.

Luxury isn't a big deal for me, I prefer to be able to afford whatever I want as many times possible than to be able to only to be able to afford a luxury item ones. Luxury are for the celebrities to show off and not for the common man. I don't get spark (off) to spend, I love saving to Investment and that's all I do. When I make a profit, I'll spend the money on important things before thinking about my wants. People spend money to look rich but they're not impressing anyone because those they spend to impress aren't bothered by those things. You don't see the ultra wealthy people spending to impress anyone but they spend to save time


Getting introduced to wealth newly can be difficult to control because you'll want to always show off at every given opportunity but that's not a way to live. Luxury are just overpriced normal items so why don't you buy the normal items and have leftover money to invest and grow your wealth more. Money runs aways from people who don't know how to manage it to those that can manage it very well. It is always good to live below your means and surprise people that doubts the lifestyle that you can afford.

There is nothing wrong with pampering yourself by buying luxury goods, we can do that once in a while as a form of appreciation to ourselves for the hard work we have done so far. But don't make it a top priority because there are other important things that we can still do than just doing what we want. If life only follows what we want, then we will not be able to control our life path because we are too busy for satisfaction which in my opinion is only for a moment.

However, if we have the soul of a businessman who can see good opportunities for these luxury goods, then we can make it a form of self-satisfaction, besides that we can do business in it. We know that some luxury goods will become goods that will skyrocket in price in the future because they are only issued in limited quantities, for example. Well, there we have to be able to see the gap so that we can take advantage of things that are considered wasteful.

Everyone certainly has different problems in terms of financial management and this also greatly affects their own needs and lifestyle, but when someone can control their desires and the income they earn can meet the needs of their dependents, of course this will make them have good financial management, because some people who have large incomes still have financial problems if they cannot control their desires so that they continue to spend their income uncontrollably and also what they buy is not necessarily what they need, of course this will cause them to experience financial problems.

It is true that the more income we can get, the greater the expenses will be, but in this case we must also be able to manage it well and not use the income we get for things we don't need, but it would be better if we could invest some of the income we have.

With a small income, of course we must be able to manage it well in order to meet all the needs needed, because with a small income, of course there are many things we have to think about before deciding to spend it.

I do not really see the problem, someone that has acquired wealth through this market and wants to spend some of it will find themselves not being used to do so, that is logical as they did not had that wealth before, but soon enough they will get accustomed to it, like it is the case of any activity that we repeat often.

However just because you are rich this does not imply that you need to buy luxury items, you can keep living your normal life, with the only difference you will know that whatever comes your way can be easily solved thanks to the wealth that you have at your disposal.

indeed managing finances is influenced by our own lifestyle, and everyone is different, even though know about how we behave towards money, our success in managing finances does not only depend on desire but emotional factors and self-control, especially when dealing with finances, which are the determinants, how much income we generate, even though people work in the same business field as us, but in terms of spending the amount of money is difficult to determine depending on the needs of each individual, and a person's socio-economic situation also plays an important role, in terms of spending it, the greater our income, the greater the expenses and vice versa, the smaller our income, the expenses are regulated as economically as possible.

In all honestly, buying luxury and all those expensive things do not really matter as long as you have all the funds to afford it, but the issue is how would you maintain and improve your wealth if you are too engrossed with luxury in life, and tend to forget maximizing the source of investments instead in order to produce maximum profits. Even if you have become filthy rich, if your mindset is like that, you will never be able to sustain your wealth in life in the future.

If you are used in living a luxurious lifestyle, it’s obvious that you will spend more on your luxury things over your basic needs. And that’s okay if you have the fine resources to afford it. But if you are just starting to be rich and would want to spend on luxury without reliable source of funds, then think a hundred times. Just one step at a time. Focus on diversifying your investments first so you can have multiple sources of profits and when you’ve achieved that, you can have all the luxury you want as long as you are only spending your extra money.

That's definitely an issue, when you start to make a lot of money, you end up spending a lot. When you are poor, you dream of becoming rich one day and do many things, and your dream isn't just to "have" that money, it's mostly about what you would do with that money. So when you finally become rich, you just want to make all of those into reality.

I had that before, I had a lot of medical problems that needed to be taken care of, but because I was poor, I couldn't do any of them at all, but after I started my current job, while it wasn't a huge amount per month, it's still huge amount compared to what I used to make and I could get a loan and pay that. Even something as small as 100-150 dollars per month, over course of 3-5 years, becomes huge, and that's what I got and took care of my health issues. I could have been a guy who wanted a new car or something too, that's not a bad idea for people who want that, I do wish I had a car too, but that's fine, I took care of something more important.

All in all I have to say that becoming rich overnight or very quickly, causes you to make all of your dreams come true, and not doing that just to keep that money is not something a lot of people can do.

Although money is just a tool, we let it mess with our minds and make us do things that don't make sense. People who have recently become wealthy look like they don't fit in those high-end spots. Plus, it's not about how much they can buy; it's about feeling like they belong, man. Self-confidence is important, even when you're around all that fancy stuff

Even loaded people hesitate. Why? Simply because putting cash into a problem does not guarantee its resolution. Confidence and the ability to walk into a room like you own it are not suddenly given to you. Irony, right? Even if you have a lot of money, you can't buy that feeling of connection

Luxury brands aren't getting it. The emotional and mental hurdles people face are not understood by them. Accessibility is just as important as making something available. It's about becoming friendly to others. Man, the economy of the future needs to figure this out; this is where money and people meet

High-end brands could reach a whole new audience if they understood this. Not to lower their standards, but to take away the mystery of that feeling of being exclusive

If as an individual with lots of money the company you keep as friends or colleagues dominantly plays a large role in your ability to decipher ideas to grow the wealth/money you have. A lot of people that had an instant large amount of money probably from gambling or any other means were able to redirect it into something productive as a result of the calibre of company that he/she had surrounded themselves with.

Even if we have the thinking to work things out with the money at hand for more money to be made, and we're gathered by some extravaganza set of persons that want to enjoy life by all cost, there's every tendency that you'll be dragging foot in moving forward with the decisions of trying not to spend on frivolous lifestyle. But it's easier to grow our wealth when I'm the midst of people with same goal of wealth creation. Like they say, iron sharpeneth iron.

Yeah I agree; I believe that given enough time, then we can just assume that life could be a lot better. We need to focus on how to grow, and because of that we need to keep on focusing on making money. If you keep focusing on that, you are not going to have much time to keep spending money, that will not work at all and would not be great.

We could make it work one way or another, could be something that we could all care about, and not spending money will mean that you are going to not go broke. But, the purpose of making money is to spend so that leading a comfortable life. I mean not spending means not starving but spending on essentials and skipping the all others. Theoretically, it is okay but not sure that everyone could follow.

Trying to keep life style down makes no sense, we are going to live just once and I do not think that we are going to end up with anything good or bad, we are going to end up with something not so great in the end. We should consider how things could go wrong any moment, so postponing your happiness makes no sense, it should be something that will take a while.

I believe that we need to just keep on trying to do better, and trying to live better, and have as much fun as possible. Because tomorrow isn't promised, and all you have is today. This doesn't mean that you should ruin your tomorrow, do not take out a huge credit, go party in a yacth with drugs and then suddenly realize you have years to live and no way to pay that debt back. I am just saying, if you keep on saving so much that you miss living today, then you are going to regret it later on, you should try to keep your money as much as you can, but also try to have a happy life, not regretting it due to saving. If you regret not having a better life for other stuff, that's understandable, but if you regret it because you saved, that means you could had better life but ended up not having it because you wanted to just have even better later on.

There are huge amounts of people out there who stretch their salary to the limits every single month and barely save anything at all. When you're barely scraping by and earning a basic rate, then it's somewhat understandable that you want to just enjoy the little things in life - some a takeaway food, or a car on finance, or the latest Apple watch and you might be happy with that. However even on a low salary, if you can save or invest anything - even small amounts like $100 a month, it can start to set you free and it comes a bit addictive by itself. When you start to save more and more, then you realize that having that safety net and buffer can be very useful, then you start thinking about how to grow it more by cutting out wasteful spending.

I don't have much to contribute in this because I know very well that spending of money is basically based on the individual weekly or monthly generating income and also the load or challenges that it face for it family so I believe that the way Mr D spend it money it will not be the same way Mr E spend it money so the difference is based on the kind of lifestyle you live all the kind of people you associate with we determine how you spend your money and they don't forget to know that your generating income can make you to spend much based on your luxury life

That is mainly because people who are newly wealthy are people who have no idea what to do and how to do it. I personally believe that the best thing to do in that case would be making sure that we are dealing with people who know what they are doing and nothing bigger. I get that it may not sound too critical but if they focus on keeping the money growing, instead of spending the newly found money, then they will do much better with time.

I think that is the part that will take some time, and I hope that people could see how that could be helpful as well. I am not saying that lets see what happens, we are just going to end up with a lot of people who do not know what they are doing, which is the main issue.

I am trying to understand the issue... is it to spend money or not? On some nice things? Newly wealthy or newly poor what's the difference? We all want better things for ourselves, and we "overspend" on some things for sure, but what's the connection with ' Luxury services missing their profit margin of the potential clients money"?! Who cares about them? It's your thing, your taste, and your wallet! If you wish to have something "luxurious" it's up to you, many of us make these choices every day.

As by crypto what? In the past 15 years (more or less) crypto has made many millionaires & billionaires, and I am sure there will be people with trillions in crypto one day... so what? Each of those people has their own desires to spend money on them, it's a normal thing... Each of us chooses where to spend money and on what things, that's not an issue, it's just a taste & wishes!

It is a new environment in a new social class and a new lifestyle that can be intimidating, it may take some time for a newly wealthy individual to adjust to this new life. It is a huge challenge to society that people have chosen to judge individuals based on how people look, the clothes they have on, the car they drove in and all that. While it can be a measure of wealth, it is can be misleading because some individuals can appear rich or wealthy without really owning anything big, while someone who has achieved financial freedom and chooses to be very simple can be mistaken as poor.
I say social media has made people want to live fake lives of appearing rich without actually being rich.

There alot of people's who has problems on how to spend their money and those people's are those who find their money in difficult way, which are the people's that hustle very well they swelth before they become wealth.

But you see some people's that just earned money on a lucky way they don't know how spend their money they will be spending the money in a unnecessary way buying a car that didn't supposed to buy instead of them to help those that noting to eat in a daily basic so that they can even get rewards, but they will not there only about to change their lifestyles by dressing the way them wish.

Luxury items are what wealthy people sell to poor and working class people in order to become wealthier.

I consider most luxury items to be mediocre appreciable assets at best and a liability / burden at worst.

It's much better to be rich than to look rich. 

I do not see the need pretending to impress anyone. People should normalize living within their means and doing stuffs they are comfortable with. A rich man may not be comfortable spending so much on luxury, that does not make him less a man. It's his money and he has the rights to decide how he spends it according to his personal budget.

The society expects so much from people that even those who cannot afford certain lifestyles begin to live in debts just to live up to expectations. Any business which gives its customers some discriminatory treatment has lost it and I won't be patronising such a business if I notice such.

Some people make money with many objectives on their mind which they must fulfill in their lifetime. Some people will raise from nothing to something tomorrow only for them to see them display wealth through cars, houses and buy all stuff of materialistic things and there some people that makes money and do incredible stuff through donations to orphanage and that's how they want to be recognized and many more huge donations but will have to be on a lowkey.

I just think that we all have different lifestyles, didn't you see who Elon Musk is today? He was not near among the top richest people by forbe but look at his lifestyle till date. He claimed he doesn't own a house even though that might subjective to some investigation, that's how he choose to leave his life. There are some people that if they have such positions, they might want to display materials. However, I have a question for you, have you seen a public entrepreneur that display wealth to people? I think they are rare.

That's not entirely true, rich people like to dress simply because they are too familiar or even too bored with those expensive things. In their eyes, those are just cheap things or maybe they are too busy and don't even have time to take care of themselves, so they have to dress simply to bring themselves the most comfort. And just because they dress simply doesn't mean they will live simply, many people go to work in super cars, eat expensive things or live in luxurious houses...Meanwhile, things that are too boring for rich people are dreams of poor people, so some people will sacrifice a large amount of money to buy expensive things but have no intention of showing off to everyone. Sometimes they just want to fulfill their dreams or reward themselves...because they have worked hard all their lives but never enjoyed life.

Don't be too shortsighted to try to judge and criticize others just by the way they dress.

This is one of the issues we are facing now in our society. Some challenges we are going through now in our society is as a result of our actions. I personally don't mingle with people that respect only the rich people. It is why many are forcing their way to make money by all means even if it means to kill because the society does not regard or respect them without money.

Majority of people living extravagant lifestyle and see it as luxurious are actually doing it to impress others and nothing more. I know the importance of being classy but it becomes unnecessary at some point. You don't need to spend extra too much to prove your worth. By the way, you don't need to prove it to anyone that you worth it, it will only create hatred for you.

Margin indeed is the bottomline. It is okay upgrading one's lifestyle upon reaching higher financial milestones however, do it gradually and not in an instant. Not because you can buy something, you would already make a purchase because what matters is how you would sustain things in the long run. Perhaps from $20k per month, you reached $100k but your monthly expenses is around $80k. Obviously you won't be feeling that much of the increase with your wealth not to mention the idea that purchasing luxurious things would mean higher maintenance amounts. What to do is to properly leverage your expenses and earnings. On my end, whenever I am purchasing things that I want, to celebrate, I make sure to at least have a margin of 5x its value so that my wallet won't be tightened on the next days upon my purchase.

All of these happen as a result of misplaced priority among some newly wealthy persons. Often times people misplace their priority while trying to enjoy their life due to how much they have wallowed in poverty in times past, and before they realize it they have squandered on irrelevant luxuries money they ought to have invested to reproduce more wealth. It is a common logic that when money regular leave ones wallet without correspondent or higher returns it's definitely going to get exhausted but some people don't think at all.

I think this could be the reason why some newly wealthy people do not end up getting richer because they tend to level up their wants and needs and embrace some luxuries in life. Yes, they can afford but the problem is, how long will it be? If they don’t focus on rolling their money and invest more, their wealth will never grow but might run out along the way because they keep on releasing their money without securing first if they also have vast amount entering in their bank account. At the end of the day, people who tend to live like this will get poorer instead because of their uncontrolled expenses here and there.

Being wealthy doesn't mean that you have to start using wealthy-ish stuff though? You can love off of whatever you were originally using or comfortable with. If you find something better then go for it but I don't think it'd necessary to actively look for a much more expensive alternative, e.g. switching to an iPhone just to idk, flaunt that your rich or something? Heck the first idea I got when I received a pretty big sum was to upgrade my personal stuff not because I wanted to feel rich, but because I wanted the upgrades themselves.

And no, it's not a problem for luxury businesses. They target the rich, more expensive but less clients so pretty sure it's already part of their thing.

Everyone considers his goods and services as luxuries depending on the amount of wealth he has.  When you are a poor person, if you buy a pair of shoes for $20, it will seem very expensive to you, but it is very cheap to a rich person.  Again, when the price of the same product varies by location, we consider the same quality product as good or bad depending on the price.  A common thing that always works in us is that the more we see the price of the product, the better we think of the product.  In this case we waste a lot of money trying to prove ourselves rich.  So first of all everyone should learn money management and acquire real good saving skills then only you can manage life very well without any kind of hesitation.

Money is volatile, we should spend it wisely irrespective of whether we can afford what we are spending it on or not. Luxury is a want, it will never be a necessity, I love to moderate everything no matter how rich I am. I can do the luxury once in a while, but I tell you, I will limit it to the bearers minimum because most of these luxury goods and services are ostentatious, they can't change who you are or hand you the ticket to the best health and other important aspect of life.

Even as we think of luxury, we should think of the future as well, money stays with those who are wise and who use it well, or else, you will be a yesterday rich man. Perhaps the luxury will save you at that time. By the way, I was referring to the middle-class people who would always want to feel wealthy without prioritizing the better use of the money. But if the person is truly wealthy, luxury is a must, and by then, it will happen naturally without coughing one's last card out.

Very often those problems go hand in hand, so if the amount of money that you are earning is not very high, then it is easier for you to spend more money than what you should, as you try to compensate this by using your credit card or a loan, however a person that is earning a lot of money will be able to satisfy all their needs, buy several luxury items and still save some money they can later use to invest in an asset they may like.

It's rare for people to have a problem spending their money, most of the time it's how they get the money itself, which is even a big problem for some people.

I was once in that position when I was young with a salary that was more than enough that I could get per month, and thought that I could already buy what I ever wanted, since then my money was more and I was quite confused about what to spend it on, until at the stage of knowing investment, I always feel less, especially when I know bitcoin, a salary that is considered sufficient feels still quite lacking because I want to always invest in crypto assets.

The confusion is where we still don't know much so it will make our eyes blind to use it.

I believe that luxury is in the eyes of the beholder, that is a person that values the item. The rich prioritize some goods in the luxury class so that they can lavish their money on it, feeling satisfied that what they're buying is out of reach of the average income earners. I sometimes see a designer watch that costs a fortune to buy and I wonder what makes them so special, I realize that it's because the makers has prioritized it strictly for the rich. But a person that doesn't know the value that is attached to the watch will not value it, infact they'll rather pick a bicycle that they feel is more valuable to them than the very expensive watch. People should not feel intimidated by luxury items, that is somebody's business to reap off from the ego of the rich.

I don't think that's a problem, because when someone has a clear income and makes them have a lot of money or become rich, of course their lifestyle will also improve. That is a natural law which in my opinion will indeed happen, in fact I think all people who were previously in the lower class, but when they become rich, their tastes and lifestyle will tend to rise. But what you have to pay attention to is managing your money. We must be able to manage our finances well by considering carefully when spending a certain amount of money on something.

Many young people nowadays have a mindset with a perception of life only once, so they do things that sometimes don't make sense or are even beyond their abilities, this is something that must be paid attention to. It's true that we only live once, but that doesn't mean we have to do everything just like that, of course there must be good consideration so that we don't regret it in the end. People who have a lot of money in a short time usually buy what they want, not what they need, that's absolute, because I think everyone feels that way.

You have just nailed it man. Yea most people have money to spend on luxury but chose not to because they see that those item don't worth it. I feel same thing too that luxury item are overhyped to suppress the poor. If you check properly all luxury materials sold in the market also have the casual that can be affordable to the low class people and someone who is rich may chose to purchase it and pretend to be a usual guy. But that doesn't mean he is usual except a need to show up arises. Just like @ Franky made a reference .

I equally watch such movie yesterday, when a restaurant owner who has not been around for many years came around to see how his manager and workers are treating people in his restaurant, he decides to appear simple and he was treated bad due to his appearance and he was angry at them and decide to fire his workers who didn't know it was the boss and it was their first time meeting their boss. So it's fun how people act by trying to switch immediately they noticed you are not what they think you are.

there are times where some people who gain the mindset of investing their excess cash(after bills), become frugal in the early years of wealth building. that even when those investments flourish/boom/create more wealth than their life requires.. they then dont know what to do with that money and fear spending it as they feel they could have reinvested it ALL again to x-factor their wealth further.. getting stuck in the frugal lifestyle even when they are at generational wealth standard of more money then they can ever spend on their own life

the trick here is to not think 'which do i do: hoard coin forever or spend frivolously?'(one or the other).. the trick is, do both
by this i mean dont remove all cash when coin reaches a ATH and then splurge on extravagant luxury until its all gone.
by this i mean dont hold onto all coin forever even at a ATH
 instead set yourself some guilt free spending limit (keep some coin, sell some at ATH) and then spend some of the cash on life stuff and reinvest the rest when the price corrects after the ATH

by setting yourself a keep coin amount. a sell coin amount..a spend amount and a reinvest amount you then are allowing yourself that guilt free power to spend money fearlessly and not have that 'what if i reinvested that vacation money, i could have netted xx'(regret)

usually the first step in the early years is to pay off your bills, for instance putting yourself ahead and into a position where you have put a whole X month/years worth of housing and utility costs into those bill accounts so that you no longer have any ongoing monthly costs/demands. freeing you from the monotonous monthly obligations of life. this is usually done in the earlier parts of wealth building. to get ahead of the monotony of life and give you a buffer while investing to not have bills/costs thrown at you regularly.. slowly adding on more buffer to build more bill-less months/years of freedom whilst investing
financial independence is not just about having enough cash to pay bills and enjoy life. its also having bills paid ahead of X time to not worry about the next bill for X time

then when the coin accumulates more wealth per market cycle you continue to set % of hold/sell coin  and also % of spend/reinvest cash
this then gives you the mental freedom of not doing anything wrong, freeing you from worries of losing it all

Personally I don't know anyone who has a problem spending money but I know a lot of people who have a problem getting money. 

Joking aside, yes I have this problem. I remember when I got some money and it became more than I needed. I did not know what to do or how to spend the money exactly. I was still in my old thinking that I should only spend money on necessary things, and sometimes I would buy some Luxury things that have no real value in my eyes but I regret afterwards.

what most dont realise is when most people see celebrities/rich, they see them through the lens of the tv/red carpet events, where the rich guy is doing a commercial or a speech and has a whole dressing room and make-up artist behind the scenes sprucing them up an hour before the camera switches on..

however life without the camera is pretty casual. its not all red carpet/stage/screen events.

same goes for social media influencers that just rent a luxury car for 2 days and spend 16 hours making enough footage to stretch out enough photos and videos they can publish over a year to appear like they are driving around all year. yet most of the year they are actually just sofa surfing friends and relatives and borrowing lifts

most of the "rich etiquette" is an illusion. done only for others. take even things like trump. he is known for wearing his red tie, collared white pressed formal shirt and a suit jacket when he knows he has to do speeches to the public.. but then off camera he is in a standard polo shirt

..
yes many businesses try to set a bar where they do not want to even have patrons enter whom look dishevelled or cheap. yes some businesses do it to give an air of exclusivity. and yes they have their business psychology reasons to do that. but in the end its all just an illusion. dont fall for it. dont buy things to impress others. at most buy what you want and if it makes others swallow their tongues, so be it. a fun bonus

i see many businesses/groups try to be exclusive. such as the FIRE and 3comma groups. and once in. you see how its all pompus 'im better than you' attitudes.. even within the rich, they try making it a competition within themselves. its like even when Financially Independent you then enter a new level of arrogance of ok you are FI but your not yet a billionaire like so and so is

so just dont enter the never ending competition of trying to prove something to appease others. just enjoy your wealth on things that make YOU happy and if you can get some entertainment value out of it then its a bonus. just dont waste money on the proving part.

There is nothing like because you now have money, you should class yourself being different, we all may need the help of each other from time to time, pride is what is killing most people, if you think you have the money and you're rich, then there is a poor man out there that will work out his energy and strength in farming or producing what you will use your money to buy, they need the money while the rich need the service or product and we are both depending on each other for sustainability.

This is one of the best pieces of information I have read in many months. People want to dress to look rich because they want to please people around. Some of them are indebted because they want to live a life they cannot afford. But just like you have said I love to live the low-key life. Sadly, people are treated by others by their physical appearance which is not right. I hear some motivational speakers teach that you will be addressed by the way you dress. But I see these teachings as faulty because they make people give preferential treatment to expensively dressed individuals and also promote false appearance.

Dressing casually is a good way of reading people's behavior. It will make you know people who are interested in you not for how much you are worth but who you are. If you cannot treat me nicely because I am not well dressed you are not qualified to be a friend or business partner. Looking simple has also saved me from unnecessary attention that can attract the wrong people. Criminals will always target people who look rich even when they have nothing. This also also why I like Bitcoin. Keeping your money in Bitcoin will make even bank staff not know how much you are worth.

My wife owns the latest iphone, and the airpods to go along with it, and the apple watch as well. All of those costed me thousands of dollars, money that I do not have, I am not making nearly enough for any of that, I was paying medical bills as well.

But she was going through some rough time, she was very upset, and buying those made her very happy, so I obliged and happy to see her happy of course. Whereas, I just saw an image of a wealthy person in my nation, someone who has like 500 million dollars worth of company, and that person was waiting for a plane, they can afford to charter a private plane, but they got an economy class ticket instead from an ordinary plane, and was waiting like anyone else. Do you know what I saw in that image? That person had normal wired phone, not wireless like airpods, and an ordinary cheap Samsung phone as well.

Wealth doesn't equal to luxury items, if you have true wealth, you do not feel the need to show that off to people with buying expensive phones, watches, suits etc. You could just let your accounting do the talking, we know that person is rich, we do not need to be reminded of it, we can just accept how rich they are and that's fine for us.

There's a saying which goes "fake it till you make it" and when you do make it, you still have to fake it until you make it.

What I'm trying to say is that learning how to act sophisticated doesn't stop at earning the money. As what franky1 said, part of the fun is kind of learning how to work your way into the society that you now grew into. You could walk into a tailor wearing cargo shorts and the ugliest shirt you have but if you have the money to boot and the attitude/the politeness of an upper classman, you'll have no trouble being served and provided into such fine establishments.

I had a similar thing happen to me once. Coming from a poor-to-middle class background I never had the chance to really enjoy fine dining, so when I took my girlfriend for the first time in one of those fancy shmancy restaurants, my sweatbeads are visible as I anxiously think that either my money's not enough here, or they may find out I just got into the money game recently. Thankfully enough no people who have been in that echelon ever thought about noveau riche people that way, and unless these people are acting crass against other people's expense they wouldn't go out of their way to call people out.

So yeah, enjoy your money the way you want it. But don't forget about attitude adjustment and your values.

It is their right when they are able to spend the money they have earned from their hard work. The problem is when you push yourself too hard and want to appear capable of getting top class service but the reality of life and the economy is not balanced, your income is very minimal but you prioritize your lifestyle for recognition from society. the people around you. So as long as the income can afford any service with just 1% then it's normal.
There are times when once in a lifetime you fulfill an ambition or desire that was previously unfulfilled now that you have the opportunity to buy something luxurious. This is like fulfilling a satisfaction that must be realized, for example, when you were little you wanted to be able to sit back and relax on a cruise ship, specifically renting one, but because you couldn't earn an income, that dream was postponed. After struggling, there comes a time when you have the opportunity to make it happen because in crypto anything can happen as a means of getting unexpected profits that can ultimately fulfill past ambitions. Fulfilling a wish that has been granted for a long time brings satisfaction in itself.

Someone said to me that it's a trick by the luxury shop employees to buy their egos.

When someone with normal clothes walking into a luxury shop, the employees will not serve them nicely to encourage this person to buy many stuffs or the most expensive stuff in order to impress the employees if he/she afford to buy that.

Because these Old Money already know the life of being wealthy, we as a human being, will search or find something that we don't have or lack of. So they will act like normal people or poor people in order to know how the life in this class and how other people treat them.

It's a sad generation that many people nowadays are living to impress other people rather than to check themselves out if there's progress in their lives.

Social media's influence made them to be like that.

Well, they've got progress and that's why they're availing these luxury things that they think will uplift them. I'm not against to it if they are able to afford it without any having difficulties in life.

Because emotional satisfaction is hard to please and if that's how they are taking this challenge to themselves, I'll let them be.

Well, everyone has their life, but there is a saying that money changes people, and I believe that money can only change some people in some aspects of their lives, but not completely. Some people are wealthy, but they don't act it; even in their mode of dressing, you cannot tell that the person is so rich, and for me, it's cool like that; there's no need to show off when it's not actually necessary. 

There was a day one man came to my office to buy a set of dining chairs and a royal sofa. When he arrived, I actually thought he just came to make an inquiry because he kept asking about the price of different sofas and dining sets, and when he finally picked his choice, he said he was going to make payment via bank transfer. I agreed, and he made the payment. Everything he bought that day was about $5k. He did the transfer, and while he was trying to show me the receipt from his bank app, I peeped and saw his account balance. Oh boy, I couldn't pronounce the figure I saw because I didn't see it well, but the money in that man's account was millions of dollars. 

Some people just love to live a simple lifestyle, even when they are so wealthy. 

Real wealthy people don't buy designer clothes or Luxury branded items mostly people who pretends to be buying them and others who really feel it's just a penny spend on every dollar they made for them any such luxury spend is nothing concerning.

Spending money and making profits are two different things so don't get confused with people getting wealthy by investing in cryptos and the same person not likely go in blindly spend all the money he made, investors look at the future not the current, once they feel they have enough wealth to live their remaining life sophisticated then there's nothing to stop them.

I have been following quit a lot of rich/wealthy people and from what I learned, they don't have the luxury to dress so elaborately and flamboyantly, as in, they just feel comfortable in their skin dressing simple except for those that are celebrities and by virtue of their career want to stay trendy as a part of their lifestyle.

It's actually the poor and average people that loves dressing luxuriously and they do this by spending the only money they have to just impress, to feel among, trying to fit into a class they are not found going by their real networth. I think I prefer living that life where I have to take people by surprise about what they think about me different from what I really worth.

Most of the luxurious products are overpriced sh*t, that is sold under a big price tag, only because it is associated with a big brand.
I've heard many stories about luxurious clothes, that are manufactured in Bangladesh for 50 USD being sold in Western Europe/USA for 2K USD. We live in a clown world. When you buy and wear premium products from "luxurious" brands, this manifests social status. The rich idiots always have to brag about their wealth and show their high social status to everyone. I really hope that most of the crypto bros stay away from this fake BS. Everything in the luxury industry is vanity plus good marketing.

A lot of people are like that and I sometimes put myself in that category. Not spending on luxury brands does not mean the spender is not getting the satisfaction he should be getting from an alternative product. Sometimes, the items or services we tag as luxury are just there because it costs more to get them, other products with lesser amounts can actually do better. These people who select what they spend on are called rational spenders.

We cannot say they are stingy to themselves. We may think they are wealthy and deserve to live in luxury. These people actually have budgets which they are very careful not to exceed. They spend on only items or services that are very essential and go for luxury only if it is very necessary. All their financial decisions are made after a careful thought.

Though we still have those that are extremely economical and frugal in their spending. Are we supposed to be bothered about how they spend their own money?

I don't really think that's the issue if i'm being frank if someone can afford thing and want that thing they'd just go for it but some of us crypto investors like to be modest and know that money not invested is money wasted so despite having money to afford such thing maybe most of successful crypto investors just doesn't really have the urge to buy all those luxurious stuff.

maybe there are certain people that despite already accumulated generational wealth from crypto, feels intimidated with these luxurious stuff becasue they aren't used to it. but these people are outlier because lets be frank the more money you got the more confidence you get. so I don't think the luxury services you're talking about missing out to capitalize on all these new money.

There's no issue with that, they've worked hard and earned that so they've got all the decisions on how they're going to spend their fortune. But the wealthy become wealthier because they're delaying their gratification and they're reinvesting their fortune into something else. At the same time, they take advantage of the wealth they have through luxurious things, services, cars, houses, etc. As long as they can maintain their lifestyles based on how much they're earning, I don't see any issue with that. There are wealthy people who act lowkey and spendless because they have a different drive and most of us are doing things for the experience and it's true because we only live once. However, not going to the point that spending your fortune on such things will make you poor again. I think the issue only starts when someone's trying to play rich and purchase those luxurious things and then they're all credit although they have the capacity to pay in cash, I understand the logic there as people like to do things in that way and it's either their businesses and investments pays for that gradually. But that's me, if I can't afford it in cash, I won't touch it.

Spending money...!! there are people who believe that a Mercedes is a luxury, they believe it, but there are others higher up who are on another level, Buggatti, etc... luxury, which is luxury; I don't think buying a Bugatti (this is a specific example, it could be anything else) is a luxury compared to the Mercedes...
So,  luxury can be measured when you have money to spend excessively, and that is the reason why the offer exists, if the offer did not exist, material luxury would cease to exist...  : )

but thats the fun part...
.. you dont need to dress in a suit to get served by a tailor to buy a suit.. the fun part is to dress casual and surprise them by purchasing stuff even if they dont view you as worthy of stepping into their building..

its like the movie pretty woman that got ill treated by walking into a high class fashion store in her normal clothes and then later when the shop owner realised she could afford the stuff the shop owners attitude changes

it actually fun to get off a plane in normal day wear that looks like you belong in economy class and then walk into a tailor to buy a nice suit. their attitude changes in an instant and fun to witness

enjoy your wealth. dont worry about how other people think. just be entertained by their attitude change when they realise they were wrong..
watching them change from arrogance to suck up is a beauty to see
..
next level mindset is when you know you can buy mansions, first class flights, expensive cars but dont need to buy them because you dont care about how others perceive you. you just buy what you want and not forced to buy luxury just to appease others
..
other enjoyment's are where high class restaurants have the perception they will get high value tips.. however when arrogant give them the minimum, but then give the high value tip to some down-on-their-luck waitress of some greasy spoon cafe.. there is an astonishingly different reaction, the greasy spoon waitress appreciates it much more

Many newly wealthy individuals often feel intimidated by the perceived exclusivity and sophistication associated with high-class services
Even If you have quite a lot money it's not like that you walk in some high price Luxury place or try to buy high class product or service If you not use with high class even If you want to really spend some money and sometimes we all want to spend it "we live only once "
But that's how the Luxury services missing their profit margin of the potential clients money
As by crypto and other ways more and more average kind of people getting wealthy to afford a lot expensive things

Do you think that's the issue ?