Originally Posted by
itsmoot
It depends. Ever had another hobby that cost money to pursue? Compare the benefits and enjoyment of that hobby to this one.
+1
Most of what I have spent I don't really think of as wasted - more of a learning experience. Many of my 'upgrades' have been directly due to changes in fitness and riding more. As an example, I got a really good deal on a good pair of carbon-soled bike shoes - when I lost weight, my shoe size went from 43.5 to 40.5. My feet 'lost weight' too - who knew? I'm certainly not going to complain because I've lost weight and become more fit - besides it's a good excuse for new bike stuff.
The only purchase I actually regret is the pair of bike gloves I got recently; they're just not comfortable once I've been on the bike for a few miles, but I REALLY wanted them to work 'cause they match my helmet.