This. But it really depends where you live and when (or if) you bought a house. I live in a city that has very expensive housing but bought in 2011 just before the prices corrected after the 2007/2008 crash. That single choice was the biggest we made. But aside from that, for ethical and lifestyle reasons, we are frugal. We use old phones and laptops, a 10 year old TV, don't fly, don't own a car and don't have kids. Result is that the house is paid off and we have enough in the bank to walk out on any job and remain funemployed for months (or more). You might think our lifestyle sounds boring, but when you remove stress and worry, you realise that a simple life can be a very happy one. A job you like, gardening, board games, long walks, DIY, cooking... None of it needs to cost much. I think that people who live with worry and stress desperately need to escape on holidays and reward themselves with expensive purchases (new cars/tech/fashion) to keep their spirits up and make it seem like the huge effort is worthwhile.