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The problems I find with your reasoning are:
If you like to impress yourself with a lack of regard for money on expensive luxury purchases, go ahead and have a ball. But that approach strikes me as somewhat uppity or arrogant -- looking down on those that seek the best value for their money spent. I don't think you'll find a lot of recruits to your line of thinking.
Reminds me of someone I knew a few years ago that believed any item that was put on sale was inherently inferior and she would not touch it. She would even give away items she bought at full price once she saw them go on sale. Of course, she was spending her ex-husbands copious alimony payments, so she had no real incentive to not just throw away money on poor-value purchases for pure entertainment value.
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