I earn a decent salary (Aussie 71K), single and no financial committments. I travel overseas about twice a year. These days I will only fly Business Class long haul as Y class is just a joke . I appreciate the extra leg room/space, better service and food. The real plus are the lounges and being able to have a shower!! Since I only fly Star carriers it's nice accruing all those FF points too.
I guess its all about priorities and comfort and I am quite happy to pay the additional $$$$$$$$