I think it's fine to desire material things. It just depends on whether or not you act on that desire, and if you
do act on that desire, is it in line with your means, or wildly out of reach?
Case in point, I wanted a nice office chair - specifically, an Aeron - for years. They're really expensive, partially because of their quality, but also because they're partially a status symbol (also, famous as seating of choice for many of the dot-bomb companies!) They normally go for around $1,000, new. I had a contact who sells furniture directly to companies and could get me one for just under $600, new, with shipping and tax. I got my first sales bonus (several thousand dollars), and that was my 'splurge' - I bought the damn chair, after wanting one for years.
Now, I still own the chair (5 years or so later), and I will probably own it for another 5 at a minimum - perhaps more. But that is not what makes this purchase OK. Here, for me, is what DOES make this purchase OK:
- This kind of spending is not usual for me
- I bought it in cash
- I got a good deal on it, despite a price tag which - in isolation - seems crazy high to me
- It's a good quality item which I use every day
- It has no ongoing costs associated with it
- This purchase occurred in the midst of much better solid financial habits (case in point, I saved something like 70% or maybe more of that bonus and put it towards my long-term savings).
- My overall financial situation was excellent (no debt, high retirement savings, good savings rate, e-fund was fully funded)
I think when you get away from these points, you start venturing into the realm of Bad Financial Decisions. Particularly:
- Does it have ongoing costs?
- Do you have the rest of your financial house in order?
- In the context of the rest of your spending and saving, is this out of line?
Everyone is different. For some people on this site, dropping $10,000 on an expensive vacation with their family would be a fine (albeit unusually spendy) expense. For other people, dropping $100 on dinner and drinks would be an unimaginably bad choice, given their current situation.
So, to answer your question: Is it ok to desire material possessions?
Yes. We're only human. But as far as
acting on those desires - see my points above.