Short answer is to live conservative and think long term.
Our house is nothing huge, never owned a McMansion. 3 bedroom bungalow with a tiny lot that we paid 130K for 13 years or so ago. We remodeled slowly but surely, paying each item off one at a time. In fact we just did the kitchen this summer. Prior to that we lived in a three bedroom townhouse, raised my kid in it. He is fine. We lived there a long time too...walked away with a lot of cash from it and banged it down on the house. By not constantly moving from McMansion to McMansion we saved boatloads of money.
We pay our cars off and drive the hell out of them, never buy a new one until we can easily bang half down. Mines a 2011 Elantra, your basic sedan, paid for. Hers is 2014 Subaru Impreza, it's loaded out but we get VIP pricing from Subaru. It is also paid for, we financed like 8K on it.
I love guns, and I own exactly two. A hand cannon for home defense and a pocket revolver for carry. I don't have 15 other guns, instead I have that cash.
I don't buy Xbox games I rent them. I didn't buy the Xbox One until it was out a year and dropping in price.
I just threw my snow blower away, I bought it when we moved in here. Sucker is old and crappy looking but it worked. I don't need headlights and heated grips and shit on a snow blower. Long as it blows or is reasonably easy to fix....
I don't have to go to the Bahamas ever spring with all the other families that live in McMansions. We do real cool trips every 4 or 5 years instead. And do lots of trips on the bike the rest of the time, which are way cheaper.
Don't eat out a lot.
I buy computers and electronics one or two steps behind the latest and greatest.
I bough my bike in 2013 at the end of the season, got a hell of a deal on it. Paid about half of it in cash and financed the rest. It was paid off in a year. I wanted and could afford a 30K goldwing. I bought a 15K Kawasaki Voyager, never hesitated and never regretted it.
Investments are our retirement, they don't impact our daily lives at all.