My rules of thumb would be:
1. When starting out, purchase a minimum number of non-essential things that tend to depreciate with time e.g. boat, atv etc. and spend your money on essential things that appreciate with time e.g. house, land (if you are a farmer or rancher) etc.
2. Have a plan that fits the desires of you and your significant other.
3. Do a "present worth" once a year to guage your progress, or if the opposite, adjust accordingly.
4. Live within you means, and break free from trying to outdo others.
6. Don't let the mass media over-influence your spending.
7. Learn how to invest, or seek help in that regard
8. Balance saving for the future vs enjoying yourself today.
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