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<p>That’s pretty much it. </p>
<p>People make choices about how they want to spend their surplus resources, and then they rationalize those choices by describing their preferences as virtues. That is why these arguments will never end. “Living like a monk” (i.e. no cleaning service, old cars etc.) seems like a small price for me to pay for a luxury education for my kid. However, I can’t imagine I would ever spend 60K on a car, which is just a hunk of depreciating metal to me. I can’t claim to be better than someone who would tell junior to go to the state school so the family can retain the BMW or the larger house. My choice doesn’t hurt me because I don’t value what I am “giving up.”</p>