Recognizing everyone is different, the question is, how much hardship can you endure before you just give up?
If wealthy people would only spend their money wisely there wouldn't be a need for things like inheritance tax breaks and family trusts to prop up their wealth. :D
And a splurge for the impoverished isn't '$50 here and there'. My last 'splurge' was 12 dollars for a pair of fleece lined tights so I don't freeze on my way in to work (I walk to work). Or 3-4 bucks at McD's once every two weeks or so.
The $50 figure was what I was replying to. I don’t see how inexpensive clothes or $4 at McD’s is a splurge.
I'm supporting 2 people on 15/hr. Those are splurges. The 'splurge' is not being cold for 15 minutes on my way to work or having a night where I can choose what to eat for dinner.
Yes, unforeseen things will still arise but you’d rather have the $1k you need to deal with it than not.
I’m more partial to the argument that splurges allow people to temporarily feel like they aren’t poor