I've lived on less and do right now. I can pay rent, and back student loans, also gas, food, and cell, and still never feel like I'm pinching pennies. But I'm also 24, not finding a career at the moment, and have no family. Easy as shitting for me.
Me and my family have diffficulty living on USD $220K + each year; have 4 different car payments; mortgage payments; student loan payments; do eat out at real restaurants regularly; do try to give 2 children meaningfull experiences; it is amazing how I have to put checks in the mail at just the right time (like today); where they will get there in time , and also when funds will be depositted in checking account; like next Monday..>>
LOL; when I was 25 and single; I could live in my car; travel around the country; on much less than $100/day..>>