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Yes, the effects of inflation that badly affected our finances, forces us to cut out luxuries and tighten our belt to keep up with the rising cost of living. So we must be smart on spending and focus only on the needs not on wants or desires, but if it can still fit your budget then why not? However, buying things impulsively can lead to many buying mistakes, chances are you are paying too much for it since you did not take the time to shop around for better deals. There are many things to consider before purchasing something like Does this item have a purpose? Do I really need it? How long will it last? Is there a better option than buying this? Things like these need much time to think about, for example like buying a car, it is not an asset but more of a liability and car has a depreciating value. Why not opt for a public transport you can save up to four times the money you use commuting in your private or personal car. Live a comfortable life not a wasteful one, do not spend to impress others, focus on what you actually needs.
And this is why so much people are indebted to the point that any small crisis is more than enough to cause financial ruin for them, there is a big difference between needs and wants, and people have trouble distinguishing them, the truth is that compared to our wants our needs are way smaller and can be easily fulfilled.
It is because people confuse wants with needs that causes them to get into financial trouble, by buying a house way bigger than what they can afford or buying a car when public transportation can be more than enough to cover their needs to travel and it is a cheaper option as well, so before making any significant financial move we need to always consider if this is a real need or if this is a want and reduce our expenses accordingly.