A status symbol is an object, action or trait that is used to convey a person's social standing, wealth and/or success. It is something that is purchased or displayed as a way of showing off one's position in society or their financial ability to afford it. Status symbols can take many forms such as luxury cars, expensive jewelry, designer clothing, high-end electronics, private education, exclusive memberships and vacations at exotic locations. The possession of these items is meant to signal a person's status within their social group or community.