I think some of the best lessons I passed on to my boys were the ones that were the hardest to accept from my own parents. If I wanted something, I had to work or save for it, something that a lot of young people don't do any more, or even know how to. We didn't have credit cards or the like while I grew up. Cash...if you didn't have it, then you didn't buy it until you had enough. Did it hurt? damm right, but I'll tell you, you appreciated the item a whole lot more, and you took good care of it. Nowadays, it's buy on credit or "Mom/Dad I need....No, you don't need, you just want. Both my boys wanted wheels, did they need them, no but they worked part time after school and weekends, bought their own cars at 16, had their own insurance policy, (I paid the difference between coming on my policy and their own for the first year), they both know what a buck is worth. At 24, my oldest bought a house already with his girlfriend, my youngest is well on his way too.
So, urbanangler1990, you have to balance your needs and your wants, be sure that what you want, is really needed. I'm still driving a 1986 Lightning rod with a Shimano Speedmaster, do I need a new one, hell no, but ask me if I have any other debts at 50+.