Status Ego

How many of us have heard these 2 words? Quite a few I presume. What does this mean? To what extent should it impact us? Is it absolute or is it relative? Is it a good thing? We have these and more questions when you think of this.
Status ego is more to do with wealth (money) though it is not the only criteria but also how we use the wealth to project ourselves which basically is to do with the respect he commands in the circle he moves in (another name is soceity).
Well, for one it is definitely not absolute. It is implicitly defined by the circle in which you move and you are rated in comparison to others on this. Whether this is a good thing or bad is again based on the individuals outlook. A person who wants to grow in social stature will find it a very good thing as it gives him a scale to measure his prominence in the soceity (circle in which he is moving). For a person who is contended will find it bad and a waste of time.
But one thing is for certain we should never attribute too much importance to this else we will become a slave to this. Eventually, it affects both the rich and poor. For the rich it facilitates the entry of arrogance, pride and prejudice, while the poor will get into all the wrong ways to gain wealth in order to climb up the social ladder. So long as it is helping us improve our standard of living it is fine. This can only be accomplished if we can keep this status ego under our control and not allow it to control us. This is a fine line and we need to tread this path very carefully.