Enjoying now and pay later or being frugal?

We were growing up with the culture to be debt-free. Consequently, we have provided well for our children and grandchildren. However, the opulence has led to high-end cars, designer watches, cameras and fancy cell phones et al. Folks with such contemporary trends seem to be on a spending spree/splurge. However,such changes of lifestyles may be cool to spend, but it is certainly not uncool to save as per the traditional Chinese culture. Any other scenarios? Xie Shihao a.k.a. Francis Shieh. August 9, 2007