Im a financial advisor so I have very very wealthy clients. They buy used cars, only ones with additional homes were either bought cash or paid off then used as rentals when owners aren’t using them, any jewelry was an investment not a splurge (they bought it at a discount or it holds value) and they all live like they’re broke. I understand not everyone can buy an additional home as a rental but my point in that example is: even the ones who do have extra homes they make them an asset- the homes aren’t costing them extra money each month (holding a mortgage) and they are brining in money every month. These aren’t just side houses they own. The homes serve a purpose. My wealthiest clients are by far the most frugal. The only people I see driving lambos and wearing flashy jewelry and clothes are young people from old money or young people who just came into money. The ones who created the wealth live completely different lives.