what does this mean
 

champagne lifestyle, i really never heard this before

It means the person leads a "glamorous" life sipping champagne, being chauffeur driven, shopping all the time, having servants, going to clubs and eating canapés on yachts..

Its the kind of lifestyle chavs think is glamorous but its vacuous and unfulfilling

okay cool, sounds fun i think

It means when you wet the bed and it comes out all fizzy

Indeed, the "Wag Lifestyle". Girls who spend the first half of their life thinking that's everything they want... Then they marry a millionaire footballer, enjoy it for a couple of years, then end up miserable and bitter.

Nicola McClean basically.