I do not splurge and just buy any brand names. I do my research (on quality, care and maintenance required, etc.) before I decide to spend $$ on purses.
That's what I try to do, I can't buy really expensive designer bags (maybe in the future, who knows) but I do my research on mid-range ones too. I stopped buying non-leather bags (with the exception of the Longchamp Le pliage that I love) because I didn't like them that much and I got tired of them after a while. Now I prefer to buy rarely, but they're classic and good quality pieces and I know I'll enjoy them for a longer time.