In 2020 I bought a brand new bike, spent $1400 on it and had it for 23 years until it was stolen. At the time, when I bought it, I was making 26K a year. I paid cash; that was what was within my means to own something without having to pay extra for it through a loan. In 2023 I bought a new (electric) bike, paid $1000 cash, no loan. I make 55K now. That’s what was within my means to own something outright, without having to pay a middle man for the privilege of borrowing money. No car loan hanging over my head, no worries about gas prices, or paying insurance and registration for the privilege to drive. You are 100% right about people living above their means. If the weather is really bad, I take public transit. The most I spend on transit is $65 a month during 1 month in the winter. Other months is usually $13-26 when I am mostly riding the bike everywhere. Me being a cheap bastard about transit affords me the ability to live 3 miles from my job, (higher rent,) and affords me the opportunity to travel and take a small vacation on yearly basis.