Excessive savings are not necessary. I think the best way is to know how to manage your finances. Good financial management will have more reasonable spending instead of saving.
People like to keep track of how well have they been doing in their lives so far and one way to do that is by looking at their bank accounts. They feel better about themselves whenever they see a lot of money in their account and know that they are financially secure. But can someone who doesn't have any business running really be financially secure? Anyway, that's beside the point. The only savings that you should have is for emergency purposes. The rest of your money should be working for you because otherwise, you're going to stuck with a job for the rest of your life. The only "break" that you're going to have in life is when you get pensioned and very limited countries offer that. And even then, you are going to be too old to even enjoy the money that you finally have.
I have friends that work for minimum wage. I know that they are just starting out but they have no plans on not becoming a corporate slave in the future. They need to have a plan on how they are going to escape poverty and simply working for someone, buying things you don't really need, participating in the pop culture (basically), none of that is going to help you. Everyone's so crazy about having iPhones and so they use credit card just to have one and they pay 2 years for it. 2 years of not being to be able to save x amount of money just for a gadget that has features you don't need.
This is why I always encourage people to buy and sell something, no matter how little. Others are selling lunch at work. Maybe you can't do that, maybe that's conflict of interest and you can get kicked out of your job by doing that. But there are still other ways. It's not going to be easy but it definitely is the only way you're getting out of poverty.
So the bottomline, the "right" way to save money is to save money for a small business, as little as selling snacks at your workplace. Try different businesses, keep on studying about it during the weekends, and once it's all set up and you can see it's growing, maybe time will come that you're not going to have to go to work anymore.