Your friend sounds like my uncle. One day its a pair of wave runners, the next a home gym, a month later an rv,. Then a home recording studio. Then the mega tv. He latest, the most expensive robotic pool skimmer he can find. It never ends. The guys upside down on a house hes owned for thirty years. Got a double mortgage. Sells family heirlooms to get the cash for the next big thing he fancies.

Me i say find your happiness in your day to day life. In the little things. It sure cuts expenditures and over head amd makes it easy to find hobbys you really will enjoy and spend your time on where you're not just buying the latest gizmo but investing in a activity that will last you a lifetime.

My basic rule is live simply. Spend less than what comes in and try to save a little each month or week.