Once you control for education level (i.e. large cities have lots of poorly educated immigrants), there isn't any more poverty in large cities than smaller ones. The cost of living might be higher, but so are the salaries. And there are generally ways to save money if one looks hard enough.
Inflation in the West is generally 2-3% a year. Hardly a reason to to spend now. As for the other things, anyone with an ounce of self-control would steer clear.