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I have the habit of throwing money at random things like a big meal out or a new computer, but I'm a tight-ass when it comes to spending money on essential items.
Then again, it's probably the saving on essentials that allows me to splurge often, so it's a good trade-off I think.
But sure I've spent money on something I quickly regretted.
Consumer electronics are where most of my money goes. I love upgrading. In the past three years I've upgraded:
CRT TV->
HDTV
Satellite->
HD Satellite->
HD Cable (the satellite internet sucked, plus they never got the local channels they'd implied they would get)
DVD player->
Divx capable DVD player->
400 disc DVD changer->
Playstation 3->
400 disc Blu-ray changer
DVD Writer->
Blue-ray writer
PC ->
New PC->
Second new PC (I use the other new PC as a media center)
Plus several movies from DVD -> Blu-ray
I don't feel any of it is wasted money, I love my toys. Though it's kind of embarrassing to think how much I've spent.
I've also sold the old unit in most cases where I've upgraded so I don't just totally waste the money.
I'm trying to be more frugal this year but I've already bought a blu-ray writer and am thinking about upgrading my TV to a 60" or buying a treadmill. sigh.