I can also say that this strategy is really useful. Instead of spending my money, I end up saving it. However, this is only applicable when talking about your wants, but if you tend to buy your basic necessity, you will have no choice but to spend your money so you can have what you need. Still, spending within your budget and having some financial discipline are a must. Otherwise, you end up overspending and start taking personal debt just to provide your basic needs.
These are the qualities that successful people should have, you just have to be able to manage money, then you can allocate finances and you will see how much you need for a comfortable life.
Based on this, you will understand how much you need to earn so that you can save at least 10% of your earnings, but you must also strive to increase your earnings. This is what will allow you to create capital that you can invest and that can eventually bring you an income that will provide you with financial independence. Everything seems to be simple, but people often lack the disciplin for this.