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When a foolish person gains wealth suddenly, s/he might start to spend it ostentatiously and sometimes even talks rubbish. If such people get a powerful position, they might even abuse it foolishly. Such persons need not necessarily be evil ones, but the results could be because of their foolishness.

There are a few proverbs in Telugu language which translates to when a poor person became rich all of a sudden, he asked the barber to dress his hair at midnight.

To take one a peg lower - does this convey the appropriate meaning? What are the other English equivalent proverbs or idioms for the same?

user75512
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There is an old saying A fool and his money are quickly parted*.

It dates from at least as early as the sixteenth century.

Thomas Tusser, in his rhyme Five Hundreth Pointes of Good Husbandrie (1573) says:

A foole & his money, be soone at debate: which after with sorow, repents him to late.

And more exactly to the point:

Dr. John Bridges, in Defence of the Government of the Church of England (1587) says:

If they pay a penie or two pence more for the reddinesse of them..let them looke to that, a foole and his money is soone parted.

Quotations from The Phrase Finder

WS2
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Proverbs 13:11 English Standard Version: BibleHub has

Wealth gained hastily will dwindle, but whoever gathers little by little will increase it.

And I feel I have to include Proverbs 21:5 New Living Translation: BibleHub

Good planning and hard work lead to prosperity, but hasty shortcuts lead to poverty.

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spend money like a drunken sailor: to spend large amounts of money frivolously.

pour money down the drain: to waste money on something useless

(a less nice saying that means the same thing: piss money up the wall)

wear a ten-dollar hat on a five-cent head: to be rich but stupid

more money than sense: same as above, with the implication that the person doesn't know how to spend the money sensibly.

money talks and bullshit walks: a rich person can get away with anything, or make others do their bidding, no matter how bad.

References: http://idioms.thefreedictionary.com/money+talks+and+bullshit+walks http://idioms.thefreedictionary.com/piss+money+up+the+wall http://idioms.thefreedictionary.com/pour+money+down+the+drain http://idioms.thefreedictionary.com/He+wears+a+ten-dollar+hat+on+a+five-cent+head http://idioms.thefreedictionary.com/spend+money+like+a+drunken+sailor http://www.macmillandictionary.com/dictionary/british/have-more-money-than-sense

filistinist
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