$40,000 a year will do it

Here's an interesting article that basically says that with a $40,000 salary, you'll be able to fulfill basic needs and that will bring you happiness. I think it's a decent theory - though I would question this amount without including the cost of living differential... $40K in J-town would make you the richest man in town whereas in Boston it's barely enough to make it.

I've discussed this theory prior to it being published with several people - basically that if I can just make a bit more $ it'd be enough... Let's call this amount $50K in Minneapolis (I think me and friends like to spend more on clothes, travel, and drinks than the average guy). With that amount of money, you can get a decent place to live, eat out regularly, buy things you want (within reason) and still be able to maintain a savings account. However, let's say you get a raise to $75K - I theorize (is that a word?) that the percentage of my salary I'd be able to save would skyrocket - because I won't upgrade to an apartment that costs 1.5 times as much, I won't eat out 1.5 times more often, my utilities won't cost 1.5 times more than they did previously.

Some say that I'd certainly blow that extra $25K if I made it, I tend to disagree. What do you think?