Unfortunately, most people don't have minimalist lives.
With a 'humble' example:
$3000/month SF/NYC apartment,$1000/month on clothing(specially bankers), $1500/month on food(no time to cook, so $50/day), $2000/month on entertainment($500/week), $1500/ month on a decent car +gas. That's already ~110k a year. It's really easy to go beyond that.
Suppose I'm dropping $3000/month on a spacious 2 bedroom east village flat. If I'm spending $1000/month on clothing, I'll very quickly run out of space to store it in my second bedroom. $50/day on food is quite a feat even eating eggs and kale on artisanal toast 3x/day. Maybe if you are eating bodybuilder type meals at only the finest restaurants?
I'm trying to imagine how to do $500/month on entertainment. Fri/Sat/Sun bars with a $25 cover charge, plus 42 $10 cocktails every week? With that kind of a drinking problem, money is the least of one's worries.
Spending both $3k/month on a flat in NYC and $1.5k/month on a car makes no sense (the whole point of the flat is to never drive).
With a 'humble' example:
$3000/month SF/NYC apartment,$1000/month on clothing(specially bankers), $1500/month on food(no time to cook, so $50/day), $2000/month on entertainment($500/week), $1500/ month on a decent car +gas. That's already ~110k a year. It's really easy to go beyond that.