In this episode of the WealthLab podcast, Scott and Phil tackle a surprising concept: why looking poor might actually be the key to building lasting wealth. They break down the dangers of trying to “keep up with the Joneses,” the financial traps of status signaling, and how focusing on real financial goals can lead to freedom and security. Join us as we explore: How the wealthy think differently about money. The pitfalls of the “hedonic treadmill” and how to escape it. Why frugal living beats flashy purchases for long-term success. Real-world examples of avoiding unnecessary debt and redirecting resources toward building assets. Whether you're struggling with financial stress or looking for strategies to grow your wealth, this episode is packed with actionable tips to help you focus on what truly matters: achieving financial freedom, creating security, and living authentically. Stop chasing appearances and start building real wealth today. Don’t forget to like, subscribe, and share with someone who needs to hear this!