the chofetz chaim once visited the home of a rich man, and looking at the fancy walls and trimmings, said “oy, theres a page of bava basra here”, and “oy, there’s a page of mesechta shabbos here”
his point was that all the time the wealthy man wasted on becoming wealthy could have been spent learning, if he just worked enough to support his family.
not living within one’s means is a different question; you’re mixing up taavos with irresponsible pursuit thereof – taavah isnt good, as the mesilas yeshorim says the more youre drawn after physicality, the more youre distant from ruchnius.
distant, far from Hashem. nebach.