I started out by asking myself if we lived ‘simply’ and determined after looking at our credit card bill that we don’t. Then I wondered whether we lead an extravagant lifestyle.

I use the word ‘lead’ because distinguishing between our needs and wants sheds perspective on this question. Other than housing, utilities, basic food and clothing, child care and transportation the balance of our expenditures is highly discretionary (i.e. much of food and clothing) or ‘wants’.

But life without treats isn’t fun either. How to find the right balance? The options and choices are many but we must be able to reconcile them with our own set of values and based on this, we may define lifestyle as frugal, comfortable, privileged or extravagant – it’s all very subjective and I can’t say I’ve answered my own question – yet.