I agree with most of what you say; different people have different tastes though. Like you I spend most of my money on rent (I also live in London) and food -

I agree with most of what you say; different people have different tastes though. Like you I spend most of my money on rent (I also live in London) and food - in the case of rent, probably 50% of that is paying for location. I moved recently to be closer to work, and now I walk to work in 25 minutes rather than spending 45 minutes+ on the tube. This costs me several hundred a month, and it's worth every penny. It gets me back 30-60 minutes a day of time, I get extra exercise, and I get to enjoy being outside in the sun. It has literally made a significant difference to my happiness. Outside food and rent, the other main expenditure for me is travel - I have friends around the world, and enjoy exploring new places, so I spend a few thousand a year at least on travel. I could certainly cut back some of that by staying at cheaper locations, but that's a trade-off I'm willing to make. I think the difference between myself and a lot of consumers these days is that I spend primarily on experiences, not posessions.