Comment by wufufufu

I agree, but I also think there's social cost to not spending your money on status symbols. You will be ostracized by the rich and educated groups for not fitting in, and then how will you acclimate to a higher social sphere? Example[1]

[1] https://gizmodo.com/im-buying-an-iphone-because-im-ashamed-o...

edit: Ok this obviously isn't black and white, but I'm saying this should be considered among other things.