I'm a 25 years old millennial who's been out of trade school for half a year now and still haven't found any job that will even consider me because lolexperience. I have a very average phone that basically cost me 24€ (1€ per month for 2 years, ISP deal), a 500€ laptop bought 5 years ago and a 300€ LCD TV bought 8 years ago. My only personal expenses outside of food -which I don't even eat much of, nor is it expensive stuff- are the occassional videogame (maybe 3 per year at or near full price, add a couple cheaper games for the occasional sale or second hand), more expensive purchases in the form of computer stuff/consoles/TV that only happen once every few years tops for each kind of device (I don't plan on replacing my laptop or TV before they stop working or become completely obsolete, for one), and finally traveling twice a year to meet my LDR girlfriend (usually 300-400€ a year after splitting the cost). This last one is definitely the one that ends up costing the most and it really isn't something necessary, but... yeah. It's hard enough as it is. ;_;

Anyway, I really can't complain, and I don't. My family isn't even middle class and still can afford to support my expenses. I'm perfectly comfortable outside of the bleak prospects for the future, in this shitty economy with no real signs of improvement (for reference: Spain) and my own issues with self-esteem and social anxiety. But at the end of the day, that's still less than 1000€ in "unnecessary" expenses per year. It's money, it definitely is, but it's not so much that I would be saving a huge amount per year, while being miserable and miserably bored at the same time. Of course, I don't earn a paycheck now so I'd be saving more than that if I did, but this is from the hypothetical case that I'd have to spend my whole paycheck on necessary things, as a lot of people are forced to do (at least from stories I read about people in the US - we definitely have it better here, I admit).

Yeah, I guess I don't really know what I'm trying to say, lol. I guess I agree with you that a lot of people do live above their means (or maybe not necessarily above their means, but could still easily save much more money), but I think it's not always a case of that and there can be a lot more factors at work. Again, I can't really talk much about it as I don't live in the US, but when people my age are neck-deep in student loans and car payments and expensive rent... yeah, I really have to wonder how much margin that leaves for "saving".