To me, the only thing NOT worth spending alot of money on is something I won't use alot. I think it makes more sense to spend $300.00 on a great fitting pair of jeans that I will wear to death than a special occasion dress I will wear once. I think if you calculate the cost of something by cost per wear as opposed to overall cost it makes alot more sense.
That was what my mama always taught me. Better to pay more for quality that lasts years than pay less but suffer the hassle of getting replacements each time the product falls apart.