Past a certain level of income, what you need is just what sits below your ego. Everyone needs the basics, and once the basics are covered there’s another level of comfortable basics, and past that there’s basics that are both comfortable, entertaining, and enlightening. But spending past a pretty low level of materialism is mostly a reflection of ego approaching income, a way to spend money to show people that you have (or had) money. Think of it this way, and one of the most powerful ways to increase your savings isn’t to raise your income, but your humility.
Morgan Housel
Source: Let Me Convince You To Save Money · Collaborative Fund