Some really great points on this thread.
When I was younger I definitely bought high end items to impress others, gain respect. Obviously I was insecure and I was "spending like a doctor" on a beer budget while going into debt. You know what they say, Big Hat, No Cattle. Champagne Taste, Beer Budget...that was all me.
And now the wealthier we become the less we seem to spend - which I suppose is the key to building wealth, keeping and investing more of the $$ you earn.
I now spend on things that bring me joy. I love fast sports cars, not to impress others anymore but just because I find it joyful driving it everyday. My husband on the other hand can care less and loves driving his 20 plus year old car. He finds joy in looking like a beach bum.
I'm like Bones, a strong believer in fewer quality products. Yes I'll buy a few very expensive handbags but they will last me a lifetime and I can pass them onto my future granddaughters, unlike the dozens of cheap handbags women buy that end up in the landfills.
We plan at least 1 vacation a year because I love spending time with my kids, making memories, spending $$ on experiences we'll look back on with Joy.
At the end of the day Money is there to do 3 things: spend and enjoy it, save and invest some of it and give generously because giving to others actually brings people personal happiness.
I actually now feel sad for those that are constantly spending money, going into debt to "impress others". What a sad way to live.