Money is not the most important thing in life. A good credit rating is much more important. Any billionaire will tell you that.

OK, joking aside, money is definitely needed for food and housing. I was never into fancy clothing. I still cling to my "hippie days" while in college and beyond. I never had to live in poverty and I feel that a "confortable" life is all you should really want or need. Friends and family are most important, and any extra money should go to helping those in need.