I was brought up on a council estate and lived for 20 years with my own family only drugs and thief's made us move.
As for money?, I've lived with and without it and believe you me, it's far far easier with it.
It's not about overspending it's about living within your means. When you have money it takes away the daily stress that comes with paying your rent, food, utility bills, keeping your car on the road the list is endless. With money your basically get rid of those sleepless nights when someone wants money the next day, I've been on both sides of the fence.
I've had a 65k a year job and a 15k a year and I can tell you this,
I slept far far better on 65k than 15k, far better. The key is to manage your money when you've got it not blow it on useless crap.