FWIW, about 5 months ago, my family started sweating the small things. It's changed our burn rate by ~25%, from disturbingly over income to comfortably under income.
Looking back now, our happiness level is pretty much at the same point. We can't really tell what we we're missing, although I know there are things.
I wish I could vote this up more. So many folks I've talked to who have been 'losing ground' even though their family income was comfortably over $150K (in the bay area) and then done a walk through the 'little things' only to discover $30 - $40K of expenses in there.
Most often it seems that this came about where they reached a point where their income meant they didn't really need to 'save up' for things, which lead to a 'don't care' attitude which lead to spending money on things and experiences that were not expensive but not valuable.
Looking back now, our happiness level is pretty much at the same point. We can't really tell what we we're missing, although I know there are things.