India, May 27 -- At 24, Raymond Zeng earns upwards of $300,000 a year working as a software engineer at Meta. But despite his high salary and posh Bay Area address, his apartment is almost empty by choice.

Zeng told Business Insider that he does not own a car, a TV or even a couch. Friends often describe his lifestyle as "Spartan", he revealed, adding that the stripped-down setup is intentional rather than financial necessity.

"I could afford more furniture if I wanted it, or expand my lifestyle to be more spendy," he said. "I think a big part of personal finance is choosing where to spend money and where not to."

Instead of spending heavily on material comforts, he said he prefers to focus on investing, travelling and hobbies.

"Right...