That's kind of a strange philosophy to me. I mean, it would be cool to learn how to build your own frame, but unless you have the space and the money to buy the welding equipment and jigs when would you ever use that knowledge? If the desired outcome is a custom frame, then you will end up spending twice as much money if you go to frame building school which makes no sense UNLESS your real desire is a custom frame built by your own hands. In which case, if you can afford it, why not?

What's your objection to spending "that much money on a material object"? Should only immaterial objects cost "that much money"? By immaterial objects I guess you must mean vacations, education, stuff like that. But then, what good is a frame building education if it doesn't lead right back to those dreaded material objects - frames? The best immaterial objects cost nothing at all but most material objects cost something whether we want to spend the money or not. In your case you are contradicting yourself if you don't plan on building more frames because you will have spent even more money than the ammount you were originally opposed to.