i am 25 and i have the same frugal mindset. I suppress alot of my own desires to spend on things that i want, eg that nice dress, that nice bag. All i think of is that i need to save that money, keep that money in the bank or invest it, just in case i need it in the future...

I agree that it's a bad mindset to have because I am not really enjoying or living in the moment, with all that "save for rainy days".."save for the future" mindset.

One question i try to ask myself now is, "will i enjoy having this item more at my current age or ten years later?" If yes, then i will get it.