Luxury goods cost money that could otherwise be used to help the vulnerable and suffering. Of course there's no point foregoing the fancy car if you're going t

Luxury goods cost money that could otherwise be used to help the vulnerable and suffering. Of course there's no point foregoing the fancy car if you're going to spend 100% of your money on yourself anyway. But even when it's not a clear, direct tradeoff -- 'hmm, should I buy the Ferrari or give $100k to charity?' -- I think most people give some of their money away, and the proportion depends on how financially comfortable they feel. So stretching your budget to buy the best attainable toy/status symbol probably has a real negative effect, relative to buying one of the (perfectly good) cheaper options, or keeping your existing car for a few more years.