Do you have Same problem or you know someone who got same problem?To spend money

[Mrbuck]

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 ?

[franky1]

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

[famososMuertos]

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...  : )

[tabas]

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.

[shinratensei_]

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.

[Zoomic]

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?

[davis196]

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 ?

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.

[Lida93]

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

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.

[Findingnemo]

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 ?

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.

[Dr.Bitcoin_Strange]

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. 

[sunsilk]

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.

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.

[Helena Yu]

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

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.

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.

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.

[naira]

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.

[Casdinyard]

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 ?

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.

[el kaka22]

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.

[Fiatless]

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

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.

[348Judah]

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 ?

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.

[franky1]

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.

[yhiaali3]

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.

[franky1]

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