By Farley Ledgerwood | May 27, 2025, 1:44 pm
I’ve spent a good chunk of my life believing that driving the flashiest car or owning the biggest house was the ultimate sign of “making it.”
But as the years rolled by, and I mingled with folks who genuinely had a ton of wealth, I realized just how wrong I was.
Turns out, many of the habits that the middle class thinks scream status are the very things the truly wealthy tend to avoid like the plague.
I want to share seven of those “never-dos” with you. Some may surprise you, and others might make you rethink your own approach to money. Let’s jump right in.
1. Flaunt flashy symbols to prove wealth
When I was younger, I used to think the name-brand suit and the luxury watch on my wrist would instantly earn people’s respect. But truly wealthy folks?
They couldn’t care less about the label on your shirt or how massive the brand’s logo is plastered across your chest. Most of the financially secure individuals I’ve met prefer to keep it low-key. They look for quality over hype.
There’s a difference between buying something valuable because it lasts longer and buying something just because it’s “the latest must-have.”
As I covered in a previous post, authenticity often shines brighter than any designer logo. The truly rich aren’t interested in a show; they’re interested in assets that grow their net worth, not flashy purchases that only turn heads for a moment.
That’s not to say they never indulge in something nice. Sure, many of them own quality clothing, cars, and accessories. But if you see them at the grocery store, you might never guess they’re worth millions.
For them, it’s about comfort, durability, and personal taste—not desperate attempts to impress strangers.
2. Live on credit to keep up appearances
I’ve seen people swipe their credit cards on everything from expensive dinners to top-of-the-line gadgets, convinced that these outward signs somehow prove they’re “living the good life.”
But real wealth is rarely built on credit card debt. High-interest debt can quickly unravel even a decent income, leaving folks stuck in a cycle of monthly payments that keep them from getting ahead.
I’ve also noticed that truly wealthy people are often more concerned with financial security than superficial status. They don’t want to be beholden to debt.
According to a study paraphrased on Ramsey Solutions, many self-made millionaires prioritize paying off debt early and living within or even below their means. By doing so, they free up money to invest, create businesses, or save for the long haul.
3. Brag about every success
Everyone likes a pat on the back from time to time. But there’s a line between celebrating a milestone and incessantly crowing about your achievements.
I used to think dropping casual references to my successes would make me seem more accomplished. Eventually, I realized it does the opposite—people tune out, or worse, they roll their eyes.
Truly wealthy people I’ve known (and admired) keep a lot of their wins under wraps. They don’t go announcing every investment success or new property purchase at dinner parties.
Their validation doesn’t come from external applause; it’s driven by personal goals and long-term visions.
When something good happens, they might share it quietly with close family or friends, but they certainly aren’t shouting it from the rooftops for everyone to see.
I’m the first to admit I don’t have it all figured out, but over time, I’ve learned there’s genuine power in moving in silence. Not feeling the need to brag about every triumph can lead to more focus, less comparison, and deeper, more authentic relationships.
After all, a truly rich life isn’t just about the money—it’s also about integrity and character.
4. Ignore the value of continuous learning
One of the biggest misconceptions about wealth is that once you have it, you can sit back, sip your drink of choice, and let the world pass by.
But every truly wealthy person I’ve ever crossed paths with is a sponge for knowledge. Whether it’s reading daily, attending seminars, or even just listening more than they speak, they never stop learning.
A fascinating insight I read on Business Insider showcased how many wealthy individuals dedicate regular time to reading nonfiction, studying market trends, or expanding their skill sets.
They recognize that in a fast-moving world, staying stagnant is an invitation for life to knock you down a peg.
When I retired from my old office job and took up writing, I started diving into books I once overlooked. Some were related to psychology and relationships (my longtime fascinations), and others were about finance and entrepreneurship.
It’s incredible how new lessons continue to pop up, no matter your age or stage in life. And if you’re truly aiming for a richer life—financially or otherwise—embracing lifelong learning is a must.
5. Spend big on short-lived trends
Remember fidget spinners? They were fun for a brief period. Now, they’re in the dusty corners of desks everywhere.
Trends come and go, and sinking large sums of money into whatever’s “hot” at the moment is rarely part of a real wealth-building strategy.
Middle-class folks sometimes feel pressured to hop on every bandwagon, convinced it’ll elevate their status or keep them relevant.
But the truly wealthy? They focus on long-term value. They might explore emerging opportunities—maybe even dabble in new technology or a novel market—yet they approach these ventures with research and caution rather than impulse.
If something aligns with their broader goals or if they’ve done the homework and see real potential, they might invest. But they don’t blindly follow fads for the sake of appearances.
It’s a lesson I learned the hard way when I sank too much into a “can’t-miss” investment that fizzled in under a year. The wealthy individuals I confided in later told me they suspected it was all hype—and they’d steered clear.
6. Compete with others for the sake of one-upping
When I was a young man climbing the career ladder, I found myself caught up in this game of trying to do better than the next person.
If a colleague got a new car, I was shopping around by the end of the week. If a buddy bought a bigger house, I started browsing real estate listings. In hindsight, it was exhausting and never-ending.
The truly rich I know focus on their own race. Their financial decisions revolve around personal goals, family well-being, and strategic vision.
If they move to a bigger house, it’s because they genuinely need more space or see a real estate opportunity. It’s not because their neighbor just installed a new pool.
There’s a quote from Thomas C. Corley, researcher and author of the “Rich Habits” study, that sums this up perfectly: “Wealthy people don’t behave like average people—they have distinctive habits that lead to success.”
One of these habits is avoiding the trap of competing to impress. True wealth is about freedom, not comparison. When you stop caring about what the neighbors think, you free yourself to make wiser, more fulfilling choices.
7. Assume money alone solves all problems
It’s easy to assume that if you have enough cash, life’s headaches will disappear. But the truth is, we’re all human—money can’t fix everything. Of course, wealth helps cover bills, health care, and general comfort.
But the truly rich I’ve known still grapple with personal issues, relationship troubles, and even finding purpose.
I’ve shared this with my grandkids: never assume a well-padded bank account means a stress-free life. The difference is, the truly wealthy often invest not just in financial assets but also in emotional well-being.
They’re more likely to seek therapy or coaching if they’re struggling. They spend time (and sometimes money) nurturing meaningful friendships and experiences. They place emphasis on health and family, realizing that money alone isn’t enough to keep the soul fulfilled.
For a while, I chased the almighty dollar at the expense of my own mental health, and believe me, that’s not a bargain you want to make. It took some soul-searching—and a few honest conversations with loved ones—to break that cycle.
Now, I see money as a useful tool, not a cure-all. When you shift your mindset like that, the pressure to keep accumulating and showing off melts away.
Parting thoughts
These seven habits (or never-habits) have been eye-opening for me. My own journey has been full of twists and turns, but I’ve come to realize that true wealth is about much more than external symbols.
It’s about how we carry ourselves, the relationships we build, and the values we hold close—even when no one’s watching.
If you find yourself drained by the constant push to “look rich,” maybe it’s time to take a step back and see which of these habits might be holding you back.
After all, real freedom comes when you’re in control of your choices and don’t need to prove anything to anyone.
So here’s my question for you: which of these “never-dos” would have the biggest impact on your life if you adopted it today?
Story from Geediting.com
Farley Ledgerwood
Farley Ledgerwood, a Toronto-based writer, specializes in the fields of personal development, psychology, and relationships, offering readers practical and actionable advice. His expertise and thoughtful approach highlight the complex nature of human behavior, empowering his readers to navigate their personal and interpersonal challenges more effectively. When Farley isn’t tapping away at his laptop, he’s often found meandering around his local park, accompanied by his grandchildren and his beloved dog, Lottie.
