In an effort to save money, I used to refrained from buying what I want and, in some cases, even refrained from buying what I need.
This usually lead to some degree of misery, disappointment or discomfort.
I have tried to completely change that. I will pay for whatever I need. I even pay for things I want — merely want, but don't really need.
But the difference is that, now, I work towards keeping my needs and wants as minimal as possible.
I'm much happier for it.
It makes a lot of sense from a modern quality management perspective too. It's less costly, less stressful to find and fix problems earlier in the process rather than later. And by "earlier", I mean in both the temporal and causal sense.
If you walk backwards within yourself and trace what causes you to spend money in the first place, you can change the cause and the "spending too much" problem takes care of itself without you having to worry about it. =)