My general rule is that unsolicited advice is unwelcome.
I think this is probably true. Those who make choices are really just showing their priorities and they won't like it when you point out that even though they say "X" is important, they know deep down "Y" was more important to them.
My sister (who has similar income) always laments they can not afford to go on a vacation with us. Yet, they always trade up vehicles every couple of years. I drive a car for ten years or more and have no car payment. So it is all in priorities, not often whether they can "actually" afford something.
But it makes me downright mad when people claim they can't afford the basics, can't afford to pay back money they owe, can't take proper care of their children, yet they have the latest finest phones, shoes, clothes, video games, and seem to be able to afford to smoke and drink and have several pets, often large dogs which I know are expensive to care for.
So the answer to your question is, your friend's life is not going to change because she is living it the way she wants to; if you point out that she is prioritizing "Y" over "X" which seems to be contradictory to what she says is important, it will just make her angry and she still won't change.