I've earn't next to nothing in my past and have always spent less than I earn. Granted rent was much cheaper back then, but I learnt that if you have to sacrifice going out or the latest tech to save up for a bit, you can deal with most things that happen in life.
Failing to prepare is preparing to fail.
Yes, but my point was that wages when you were young(er) weren't the current slave style minimum wage and zero hours contracts - they were regular and one could plan, save, and calculate outgoings as a consequence. Low but regular wages, and affordable rents meant you could plan.
I would imagine that it is next to impossible to plan one's life if one is living in a world dominated by zero hours contracts because you literally do not know what you will be earning from day to day, let alone week to week.