Question

Do Buddhists believe in giving up wealth and spending a life in meditation?

Answer 1

yes Buddhist believe in giving up wealth and spending a life in meditation because their main theme is to do meditation and give preachings to other.

Answer 2

Buddhists often refer to themselves as 'practicing' because living morally is a question of practice – something you get better at with time. No economic model is perfect, but this system at least allows both the monastic and the lay community to meet their spiritual and material needs