I live on about $800 a month. $26 a day. It's very little compared to the average revenue of a western household, but it's also six times an average salary in Vietnam. I live frugally, yet comfortably.
I don't have any debt, which directly propels me in the wealthiest people on this planet. Power is not spending $3000 dollars a month, it's being able to save it. It implies a tiny bit of self-control with a drop of grit: it's hard to resist the general tendency for people to accumulate more - houses, cars, partners, bottles of alcohol, job titles full of crap... the opportunities to live less on more are everywhere.
There are so many countries where you can live on less than $1000 per month when you sit down to look at a map of the world.
With globalization, spending more time and money on material possession significantly decreases your leverage to earn more. It's not a race to the bottom - "who will spend the least?". It's a race to the top where the most successful make the best use of what they have.
Western countries have an incredible leverage called passport power. I can't help but cringe whenever I hear westerners complaining about foreigners taking their jobs. Emigrating takes a courage they are incapable of. Very few people are willing to leave the comfort of their roots. In most cases, it's a desperate act. It's way harder to move from East to West than it is from West to East.
If like me you are a privileged young adult with a head full ambitious dreams, don't settle down just yet. Travel, live on less, experience more. The world owns you nothing, you are the one in debt to the world around you.