That's all relative though. It's easy for us to say 'on our sort of money halving or doubling would be huge, but it wouldn't for a PL footballer'. Some poor fucker earning peanuts in the third world would most likely say the same about us, i.e. that halving or doubling their wage would dramatically change their life, possibly be the difference between life or death for them and family, whereas for most of us that's probably not the case, we'd probably just have to massively change our lifestyle - downsize the house, downsize the car (or get rid completely), stop buying luxuries etc. For PL player earning £80k, a drop to £40k would mean similar for their lifestyle, just at a different level.
It's all relative, and you'd be hard-pushed to find anyone in the world who would happily halve their salary, certainly at least without complaining that it made a significant difference to their lifestyle.