It’s the obvious question, but really do the math. Include tax, delivery and any other additional fee. Is this a purchase that encourages more purchasing (gaming systems require games, phones require covers and protection, computers require software, etc.) Overestimate.
Online purchases these days make competition fiercer. Do the research and price out the item from several retailers. Are there cheaper options? (Remember to make sure it is the exact item and to take into account delivery fees and taxes.)
The longevity is an important question to ask yourself. The shiniest and newest things often feel like they will last a lifetime, but do your research! Wat is the average life expectancy? Are you relying/hoping it will last longer than that? Is there a warranty?
Sure, you do not always need to only buy they items you need. Treating ourselves is a wonderful thing, and you deserve to treat yourself. However, really consider the treats you pick. Have you thought out how you will use this item? Will it benefit your daily life or truly be a source of joy? Are you only wanting it because it is the newest, the best or for bragging rights?
You might have money in your bank account, but remember any debt is counterbalancing that. If you have a great handle on your debt (meaning – a great FICO score, consistent repayment, and a handle on all your bills), then a bigger splurge might be warranted. However, if you have any doubts on your debt, give all non-essential purchases a second thought.