My dad could be described as financially conservative. If you were trying to win Understatement of the Year. Very averse to risk and debt, he and my mom didn't buy much extra when we were kids. All their friends had boats and nice cars and whatnot, but they didn't care. In fact they scoffed at all these people "living beyond their means".
One time, not too long ago, Ojo asked dad about this philosophy versus the spend-spend-spend philosophy. His question was basically, at what point does denying yourself these things become worth it in comparison to those who were buying things when they wanted them rather than waiting for the time they could afford them. Dad's answer was pretty glum. "If you're us, it never pays off." My dad, Eeyore the mortgage lender.