Never spendin' money on a necklace
Or a bracelet,

from G-Eazy (Ft. Hoodie Allen) – Lady Killers Lyrics on Rap Genius

Meaning

Reference to Kanye West’s “Can’t Tell Me Nothing”, in which he spent all his money on a necklace.

I had a dream I could buy my way to heaven
When I woke, I spent that on a necklace

This is also a line used in Hoodie’s “No Interruption”.

And never spend your money on a necklace

Seems to be a common habit. Hoodie doesn’t buy gifts for the ladies.

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