Quite the opposite.
I've found that spending less has allowed me to save money, which in turn has meant I could afford to be generous.
Most recent example, I was talking to a friend in another country, and she was talking about making me a handmade xmas gift, so I got to wondering what she might appreciate, and I remembered she wanted to visit home, but knew she couldn't really afford it, so without a second thought, I offered to cover half the airfare (but no more than $500, I'm not paying for first class!!)
Two years ago, or any point before that in my life, I wouldn't have DREAMED of offering anyone a gift that size, as the only way I could have if I wanted to would have been by putting it on a credit card.