i have an older, more senior coworker i spend a lot of time with, as we're the only two women in our immediate office. i also know roughly what she makes, since we work for the federal government and pay grades are automatically openly displayed in a lot of programs, like e-mail. CW earns roughly double what i do, but is constantly broke because she spends her money without any thought at all -- i.e. paying $3 for a toasted bagel with cream cheese at starbucks every morning instead of spending $3 on a week's worth of bagels and cream cheese at the grocery store.
she and her husband have been married for about five years, but they're still paying off her engagement ring. they didn't buy a wedding ring for her at the time because they couldn't afford any she wanted, but a couple of months ago it really started to bother her that she didn't have one. she told me she worked hard, and she deserved to treat herself every now and then. which i mean, yeah, i agree with that -- but not when you've also just told me you have less than a dollar in savings. you don't deserve things you haven't earned.
so she shops around, and ends up getting not one - because again, she deserves it -- but TWO wedding bands, each studded with diamonds, to wear with her engagement ring. she financed both rings, so now, although she can flash around something really shiny and pretty any time she gestures, she's carrying the equivalent of $7K in debt on her hand every day.