For spiritual advancement, one should be materially satisfied, for if one is not materially satisfied, his greed for material development will result in the frustration of his spiritual advancement. There are two things that nullify all good qualities. One is poverty. Daridra-doṣo guṇa-rāśi-nāśī. If one is poverty-stricken, all his good qualities become null and void. Similarly, if one becomes too greedy, his good qualifications are lost. Therefore the adjustment is that one should not be poverty-stricken, but one must try to be fully satisfied with the bare necessities of life and not be greedy. For a devotee to be satisfied with the bare necessities is therefore the best advice for spiritual advancement.
Ref >> Srila Prabhupada Vani.