{"id":59738,"date":"2022-02-13T15:48:51","date_gmt":"2022-02-13T19:48:51","guid":{"rendered":"https:\/\/www.shortform.com\/blog\/?p=59738"},"modified":"2025-09-15T10:07:41","modified_gmt":"2025-09-15T14:07:41","slug":"money-flexing","status":"publish","type":"post","link":"https:\/\/www.shortform.com\/blog\/money-flexing\/","title":{"rendered":"Money Flexing: Why You Shouldn’t Flash Your Wealth"},"content":{"rendered":"\n

Can money buy respect? Do you respect people who have luxurious cars or expensive houses?<\/p>\n\n\n\n

According to Morgan Housel, the author of The Psychology of Money<\/em>, money flexing with status symbols won’t buy you respect. People may be in awe of your sports car or your Rolex, but they’re admiring the item, not you.<\/p>\n\n\n\n

Here’s why you should only buy something expensive if it’s for you, not to flex on others.<\/p>\n\n\n\n\n\n\n\n

Editor\u2019s note: This article is part of\u00a0Shortform\u2019s guide to saving money<\/a>. If you like what you read here, there\u2019s plenty more to check out in the guide!<\/em><\/p>\n\n\n\n

Status Symbols Don\u2019t Buy Respect<\/strong><\/h2>\n\n\n\n

One way to prevent yourself from spending more money than you need to is to understand the lesson Housel shares: money flexing with status symbols won’t buy respect.<\/strong><\/p>\n\n\n\n

Housel argues that people often covet status symbols because they want respect. When others admire your possessions, you assume that they\u2019re admiring you. However, Housel contends, when people admire your status symbols, they barely notice you. Rather, they imagine how much other people would admire them<\/em> if they owned that symbol. <\/p>\n\n\n\n

For example, if you buy a mansion and notice delivery drivers gawking at you when they pull up, you imagine that they think, \u201cThis house is so nice. The owner must be so sophisticated\u2014I should treat her with respect.\u201d But in actuality, they\u2019re looking only at the house\u2014not you\u2014and thinking, \u201cThat house is so nice. If I lived here, people would think I\u2019m so sophisticated and treat me with respect.\u201d <\/p>\n\n\n\n

So if you buy a status symbol, Housel recommends, remember that owning it won\u2019t make people respect you as much as you expect. Instead, Housel urges, realize that you\u2019ll gain the most respect from embodying good values like kindness. <\/p>\n\n\n\n

(Shortform note: Some studies contradict Housel\u2019s argument and suggest that status symbols do <\/em>buy respect\u2014in other words, how wealthy you appear affects how well people treat you. In Pitch Anything<\/em><\/a>, sales coach Oren Klaff <\/em>describes how the higher-status you appear, the more likely people are to follow your lead<\/a>: When a well-dressed man jaywalked across a busy street into traffic, pedestrians often unthinkingly followed\u2014but they didn\u2019t follow a sloppily dressed person in the same situation. So while someone who sees you in fancy clothes may very well imagine themselves in those clothes, they also probably will <\/em>treat you with the respect those clothes suggest you deserve.)  <\/p>\n","protected":false},"excerpt":{"rendered":"

Can money buy respect? Do you respect people who have luxurious cars or expensive houses? According to Morgan Housel, the author of The Psychology of Money, money flexing with status symbols won’t buy you respect. People may be in awe of your sports car or your Rolex, but they’re admiring the item, not you. Here’s why you should only buy something expensive if it’s for you, not to flex on others.<\/p>\n","protected":false},"author":8,"featured_media":60193,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[31,24],"tags":[577],"class_list":["post-59738","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money","category-society","tag-the-psychology-of-money","","tg-column-two"],"yoast_head":"\nMoney Flexing: Why You Shouldn't Flash Your Wealth - Shortform Books<\/title>\n<meta name=\"description\" content=\"People who buy fancy cars and accessories in the hope of earning respect are doing it wrong. 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