Megan McArdle is making me jumpy with her truth-telling:

In between the happiness of Christmas and the promise of the New Year, permit me to introduce a sour note, a hint of a scold.  If you’re like, well, almost everybody, you’re not saving enough.  15% of each paycheck into the 401(k) is the bare minimum you can get away with, not some aspirational level you can maybe hope to hit someday when you don’t have all these problems.

More:

Many people tell me they can’t save because children are so expensive.  Children are indeed very expensive.  But they’re getting more expensive every year, and that’s because we’re spending more money on them.  We’re spending more money on houses to get them into good school districts, on activities so that they have every chance to get into Harvard (or the NHL), on clothes and cell phones and video game consoles and the list is endless, plus then there’s that tuition to Harvard or some sort of even-more-expensive smaller private college.

These expenses are optional, not mandatory.  And before you tell me about how unhappy your child will be if you do not buy him all of these necessities, think about how unhappy he’s going to be if you have to move in with him.  Better yet, volunteer for some outreach to the bankrupt seniors whose kids wouldn’t let themmove in, and see how their lives are going.

This is not to criticize.  Saving is hard, which is why, just like you, we’re trying to figure out how to hit even more ambitious savings goals in the New Year.  And consumption is fun.  That’s why most people struggle to save very much.