Keep peoples' perceptions right: No matter how much you worked hard to earn income, a display of wealth sends out wrong signals to people around you, particularly those who have borrowed from you. In such circumstances, people will care less about repaying their debt, which ultimately impacts the relationship. Pretending that you have limited money in hand will lead people to believe that you are serious about money matters.
Taping heavy expenses: Pretending that you earn less will eventually make you more cautious about spending pattern. Gradually, a person will adopt the habit of spending on right things and not getting carried away by the impulsive shopping emotions.
More savings: Since there is no need to exhibit your income to anyone, therefore, there would be more money in hand to save. This is how people earning a higher pay divert their money into savings, which in turn, helps them with wealth creation.
Release peer pressure: If you wisely opt to go against displaying wealth then it also sets a line for friends and relatives, who may otherwise pressurize you to spend on unwanted things like weekly dinner, frequent vacations or club parties. Your actions will help you from getting misjudged by peers.
Focus on real goals: Rather than spending money on luxurious items, which are short-lived, a person could choose to remain focused on bigger goals such as purchasing a second villa, going on overseas trip or maintain lifestyle during retirement.