It's a pretty simple question, but the answer varies for everyone. I told myself once I started making a legitimate income, I'd put 10% away for luxuries.
I have a lot of money saved up (in the thousands) already, and I frequently eye the pricy articles on the Saks 5th Avenue website. I recently found a pair of Montblanc gold-plated cuff links for about $360 ($515 at retail). Should I?
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Also, don't go buy one item. Buy a lot of Brooks Brothers, Ralph Lauren (not shitty T-shirts that make you look like some black kid thinking he has money), Southern Tide, Vineyard Vines, Lacoste (not the shitty American Lacoste), and Southern Proper. Buying one expensive piece of apparel and wearing it a lot makes you look like a wannabe.