(BLOOMBERG) - I am not a fan of bold pronunciations about spending, like: Never buy a boat! Stop drinking lattes! Don't buy a new car! They seem designed more to attract attention than impart wisdom. I prefer rational guidelines that help consumers make better spending decisions. No, you do not need to be a millionaire or make almost half a million dollars per year to purchase a new mid-sized sedan or small sport utility vehicle (SUV). What is more important is what makes people happy and how people often make financial decisions unconsciously. With that in mind, consider this as a better approach to big-ticket purchase decisions. Budget It is surprising how often people do not operate with a written monthly budget. Consumers need to understand their own balance sheets to be able to make intelligent financial decisions. Nothing is more basic than putting your financial life on a spreadsheet, including income and monthly expenses. Keeping track of annual costs such as travel or vacation, and the occasional irregular spending on items such as weddings or home repairs is a smart idea. You need to know what you can afford before you can even get to the question of whether you should bu...