" A good name is rather to be chosen than great riches. " - Proverb 22:1

What this is saying is that having a good reputation is better than having to be rich. For example, there could be those people who are rich but have the worst reputation for themselves. Like they could treat others poorly. A person like that will get nowhere in life. Another example would be of someone who is also rich but does have a good reputation. Like they could be giving money to charities , people in need , fundraisers , anything. A person like that will get somewhere in life. They are choosing to do the right things unlike the one with a bad reputation. Basically just have a better reputation for yourself than letting riches take over.