Chinese save 45 percent of their income vs Americans only saving 5 percent, 

We are slaves of our habits. Change your habits to a better one.
We often buy emotionally and justify rationally. 

Why does the word splurge means spending money vs having fun, going for a walk, getting together with friends and other healthier choices?

Every dollar you save and invest doubles Every 10 yrs.  
Meaning in 10 years it will double, 
in 20 years will be 4 times as much
In 30 years will be 8 times as much
in 40 years will be 16 times as much
In 50 years will be 32 times as much
Yes, every dollar saved and invested at age 20 equates to $32 when you are 70 years old

If your happiness depends on stuff you need help.
 
Q: What are the expenses you can eliminate that won't affect your lifestyle?