Well I don't buy a lot of bags, but I do buy expensive bags and I plan my purchases. And if I want, I will spend the equivalent of a month's salary on a bag.
I surprise people sometimes because I am quite financially savvy, as in I'm 24, I worked through college and saved quite a lot of money, I bought some property when the land prices were down and made some excellent sales with shares. So from a paper perspective, people think I'm a very tight fiscal person. But then I get my clothes and my accessories and they think it's so out of character to buy such expensive things. They miss the point - I only ever make good investments, whether in the property or share markets, or in clothes and bags! I'm only ever interested in quality. I can't afford Hermes (yet!) but I can still buy an excellent, high-priced, good quality bag that will last an age, and will make me feel happy every single time I carry it. You can't put a price on that feeling!
Go forth and purchase PFers!