Pleasures, self indulgence, and fineries of high society are spoken of here. Many times parents out of affection happily lavish their children with all the thrills, pleasures, self indulgence, and finery possible. By indulging them in this they create a love for all this in their children thus assuring that their descendants become poor in more ways than one.
Today most people MUST have pleasure, wine, and oil. And so parents will be misunderstood for protecting their household from this, but give it 20 years or so and others will wish that they would have followed your example, if they even understand at all.
Now I'm not meaning that Dad (or Mom) should be a spoil sport or a grouchy type drill sergeant looking for ways to deny his children of any fun. Dad should strive to be his family's favorite man in the whole wide world.
But give your children blessing, loyalty, integrity, a work ethic, a fear for God, proper training, a righteous example, self denial, and joy in the home, and they will live a blessed and truly rich life.
May God help us to " lead a quiet and peaceable life in all godliness and honesty. For this is good and acceptable in the sight of God our Saviour."