Two years ago, I posted a nice long article about what I call “Superman Syndrome” – a tendency for people to try to demonstrate their worthiness to others by buying things for them. Just yesterday, a reader emailed me about that article: Superman syndrome is just another example of poor self-esteem and how it can entrap you and your money. It’s no different than keeping up with the Joneses or anything else like that. It’s true. We only need to impress other people if we feel that somehow we need to impress them, that we don’t have enough already on the table to make them happy and make them want us. Do you buy clothes because they fit you well and keep you warm, or do you buy them based on how they impress others? Do you buy electronic gadgets because they fill a real use in your life, or do you buy them with an eye towards showing them off to your friends? Do you go out to dinner and pick up the tab because there’s a real reason to do so (like you’re treating someone for a special occasion), or are you thinking about how it’ll butter someone up? Do you throw money into redecorating because it’ll improve how you feel about your living quarters or do you do it to impress and stun your guests? In other words, is your personal worth based on what you value or what you think others value?

Read more here - “Superman Syndrome” Revisited: Money and Self-Esteem