Let me clue you in on something: Materialism essentially equals low self-esteem. The more you find yourself equating happiness with wealth and accumulation of possession, the less your level of self worth.
Whenever I see someone walking around decked out in flashy jewelry, designer clothes, a fancy watch, etc, I never envy them. I do not automatically have respect for them or assume they are rich, which is no doubt what they aim for by wearing these things in the first place. Instead, my very first thought is always that this is a person who has an extremely low self-esteem. This is someone who thinks so lowly of themselves, in fact, that they feel the need to dress up in shiny valuables in order to feel more important and accepted in society. All that matters to these shallow people is how others view them, and I find that very sad and pathetic.
It's overkill. It's unnecessary. It's lame and insincere; phony and sophomoric. It's all pretentious bullshit and it's everywhere around us. I'm sorry to tell you, these material things you surround yourself with will not make you happy. Only you can make yourself happy, and it doesn't cost a thing to do it. All it takes is an honest look inside yourself and the willingness to become something better. If you do this, you will soon find that you don't really need these material things at all.