How do you balance spending on necessities versus discretionary items?

Tweet

There are many who are struggling with the increasing inflation - increasing expenses and price rise of items. Worse , not everyone is lucky to have a good salary/income to maintain their life style. There are many dealing with decrease in household income. The economies are not doing great for us to do great. And many have to purchases monthly medicines .Only elite and very lucky few are really financially independent -thanks to their full time profession, assets that inherited or purchases. So, how do you balance spending on necessities versus discretionary items in these times ?