Syag, the writer has a subject cost of living and talks about shirts for say 5 kids for $500 and not $25k for their tuition. You think this is just because he likes to complaint. Fine, then he doesn’t need our advice. If he is still here, he might clarify.
I agree with your friend on teaching frugality. Besides general middos, there’s a practical issue that kids might not be able to afford the same lifestyle based on their own earnings. I know of a billionaire who had his college aged son helping serve dishes to people at the end of the table ( me) at the yeshiva dinner in the honor of the big donation from the father.