Material expenditures should be limited as much as you can when you can spend the money on some experience rather. Taking a break from work to go on a holiday will help you keep your head cool rather than the same expenditure in a luxury TV or couch.

Going out with friends will be better than buying something expensive which you would hardly use.

However, this is not to say that you shouldn't invest in things at all but limit your expenditures on materialistic goods and spend the savings on experiences alone, with family or friends and you will never regret it. You will remain with memories that will last forever rather than the materials which you will forget very soon after you get used to them.

Note: Items like gaming console or any item in fact could be "an experience generator" provided you are looking to make memories out of the items rather than own an item.

(AW- Anil)