[JoblessWonder]

Yeah... your last sentence is the important part. It comes down to doing the math.

Also, while living frugally can make a huge difference in your net available income if you live in a high salary/high cost of living city, it can also be very hard to commit to that lifestyle when your friends/co-workers don't.

[ryandrake]

Yea, for many people their student loan payment is by far their largest expense (even over rent), so it makes sense to maximize, maximize, maximize.

Not sure how your friends' or co-workers' lifestyles have any effect on your own, though. I have friends who work for Google and live what I see as pretty extravagant lifestyles, and overhear co-workers (who must make a shit-ton more than me) talk about their nanny, their maids and their kids' private schools, but it doesn't really have any bearing on my life. You have to live the lifestyle you can afford or you go broke.