that every person’s situation is unique):

1. If you routinely carry high-interest debt, you’re spending too much.

2. If you don’t maintain any kind of cash reserve, you’re probably spending too much. Yes, I know that people can use a HELOC or a portfolio line or even a Roth for emergency funds, but if you’re the type of person who wonders whether you spend too much, you should ask yourself whether you’re consistently able to sit on a decent-size cash stash without spending it.

3. If you’re saving at least 20% of your total income (including employer match), I think you should feel fine spending money. I’m all for saving more, but that’s a figure that generally will build nicely over time and set you up pretty well going forward.