How is that someone that dresses fashion conscious is much poorer than someone who dresses very generically?

I know a guy who is into trends, yet he lives in a lower class neighborhood in the city, while I know a guy that has a very generic fashion sense yet lives in a upscale neighborhood
Update: does this show that fashion conscious people end up for because they overspend on materialism.

while the wealthy people save money and don't overspend on materialism
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