Humphrey Yang: Keeping Up With Status Can Be a ‘Wealth Killer’ — 3 Ways To Avoid It

GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.

These brands compensate us to advertise their products in ads across our site.

This compensation may impact how and where products appear on this site.

Commitment to Our Readers

GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.

you’re free to read more about oureditorial guidelinesand our products and servicesreview methodology.

20 YearsHelping You Live Richer

Reviewedby Experts

Trusted byMillions of Readers

The perks of beingwealthyare abundant.

Luxury venues tend to mark up the price of goods exponentially over 1,500% in some cases.

Yang then expressed in the videos caption: Status is one of the biggest wealth killers out there.

If youre willing to set your ego aside, youll be much better financially.

This refers to always spending less money than youre comfortably able to.

Consistency with your contributions is key.

Insurance can be costly, whether its auto, health or homeowners insurance.

Ultimately, these methods of avoiding lifestyle creep are all vitally important to achievinglong-term financial stabilityand preserving your wealth.

Together, these principles form a strong foundation for continued financial success.

email sharing button