Another crucial line that only you can decide is what standard of living is the least expensive that is also satisfactory for you.  Accepting a lower standard of living than you can feel satisfied, feel "normal" in, is a formula for stress- probably not in your best interests.



So don't sacrifice the future in order to prepare for it.  Will a more expensive house or apartment make you safer, protect you from crime, wild animals or the elements?  Most people would classify these protections as needs, but not everyone.  (Some would consider more than a tent or a car unnecessary housing- only you can make these decisions.). 

Also, will a more expensive house or apartment make it possible to make more money, or economize in other ways? The really difficult question you must ask yourself:  does your current housing help you prepare for the future, or put you at risk of losing what you're working toward?  Would different housing help you more or decrease your risk?  

Once you've reached the logical end of this line of reasoning, you've found theoptimal level for saving money; the lowest final cost that is acceptable for your standard of living.  Now you're ready to move on to other questions about (normally) less expensive needs and wants: transportation, clothing, insurance, entertainment, etc.  The process is basically the same.  What can I live without (without putting unacceptable risk on my future) and what do I really need?  After drawing this line, finding the second line where you decide the least expensive acceptable standard of living, this is where the really difficult choices are waiting.

So if you feel you're saving enough for the future right now, there's no need even to consider how to spend less (or make more).  Judging from your question, you probably aren't satisfied with your current level of savings. Can you spend less on what you need to be healthy and satisfied with your life now?  Then you should, in order to save more money for the future.  If spending less makes you dissatisfied or puts you in danger of losing future choices, then you shouldn't spend less.  

Saving for the future means making compromises with present choices. Deferred gratification means accepting a less than perfect present for a better future.  But you should never lose sight of the fact that the present is all we ever really have.  Please make these compromises carefully, mindful of what you might have to give up for a less-than-certain future.

http://www.quora.com/Steve-Wright-12