$500 for an 18 year old isn't spoiled. It's also not a lot when you grow older. If you are smart about what you do, you can use more than $500 daily.
The forget are you going on about?
The national minimum wage in the UK for an 18-20 year old, which Furdle is, is £5.03 per hour.
Part-time work is usually anything under 35 hours a week, full-time is normally that or above.
With 52 weeks a year, and 4 of those being paid holiday too, then someone hitting minimum wage at this age, and working just at full-time, that's £9k per annum. The average UK income is approx. £25k pa, with the divide being quite high (lowest incomes can be at roughly £12-14k).
Then add in the fact that out of that £9k you will have to pay Rent, Electricity, Water, Gas, Council Tax and Income Tax+National Insurance (if you were earning higher), plus your own non-utility/tax costs for food, clothing, consumables and travel.
If you're living in London I can guarantee that you will have higher Rent and Council Tax than anywhere else in the UK, and due to the size of the city you'll be spending a lot on public transport. (If you drive yourself then that's added price of a car, MOT, Road Tax, Fuel and Congestion Charge in London).
If Furdle or someone else his age were living on a full-time minimum wage in London then they would not have much money to spare.
Even a family, with 1 or more parents working full-time at higher hours for their minimum wage (which is £6.31) or close to it couldn't afford to give someone $500 (£300) every single day, or even every week.
That's an expense of £109k pa, or (if weekly) £15600. That's more than most low-incomes and is 60% of an annual average income.
No one can rightly afford to just spend that amount of money unless they're just unfathomably well off.
And I know for certain that's not Furdle's case, being unemployed, nor is it the case for most of the UK.
It might not seem a lot for some people, but spending £300+ on a single luxury item (by the way, that means that the item's price was increased by 20% as part of Value Added Tax in the UK) is not an easy spend.
If you think you can live well while bleeding out that much money then you certainly are in a spoilt lifestyle.