There are three levels of requirements a man has:
- The basics
- Comfortable basics
- Basics that are comfortable, entertaining and enlightening.
Spending beyond this (low level of materialism) is mostly a sign of ego approaching income. It becomes a way to spend money to show people that you have (or had).
Lesser you care about what others think of you, lesser your desires, lesser your expenses, more savings and more chances of you knowing when you have enough