I would say "spend" not "waste". To you it may seem a waste. Many people who spend every cent they earn probably think investors are wasting their money instead of enjoying it.
Get out of your ivory tower.
It's called balance. My partner and I both earn an average wage, are both under 30 and own 2 properties. We're currently planning an overseas holiday.
We spend and we invest.
Many people who spend every cent to enjoy themselves should probably stop complaining when they can't afford to pay their mortgage.