It seems to me that frugal folks tend to make purchases based on utility rather than status. Not sure I'd limit that to old whites, but I do think that status tends to become less important the older we get. When I was younger, I drove a Z71, wore flash clothes, etc. Now that I'm older, I drive a beater truck (2008 F150 w/250k miles) and carry a Pixel 5. Not sure if that's attributable to gaining wisdom WRT utility vs status, or whether I become more frugal the closer I get to retirement... either way - it's a thing.