using money / Money matters

One is as a tool to live a better life; the other is as a status benchmark comparing yourself to others.

How you spend money reflects your life experiences. For someone who grew up in poverty, owning a luxury car may symbolize having overcome their impoverished roots. For someone from an old-money family, it may symbolize a display of self-status, and their consumption patterns often reflect the psychological trauma of their life experiences.

If you want to know where lower-income groups will spend their money in the future, look at what higher-income groups are doing today.

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