I have always thought the some of our overspending is a way for us to feel accepted by the larger society. Our way of saying, yep ya'll treated me bad and disrespected me but now I have your attention cause I'm driving a 50K dollar car.. Or I can buy my kids these designer clothes. It gets us attention.
The materialistic things may be one of the few things some of us think we have to live for. I'm not knocking spending at all.. Just have everything else in order. If you do not have money to spend like you would like then just re-evaluate your situation and see if you can bring in more money.