Well... seems like we're all assuming randomgreen is peasant 'poor' because he is still undergraduate. Scarly spending 11k to him is like us spending $110... who knows!
Anyway yes, I already mentioned in my previous post that when purchasing a luxury item, is this luxury item really worth the money spent? Of course, one derives that 'song' feeling, that 'I finally bought this with my hard-earned money', that 'I am now one level up above the other measly peasants', that 'I finally owned my dream watch'. But we have to ask ourselves, what is the opportunity cost? Will you derive more enjoyment from purchasing something else instead?
For example, 11K cold hard cash, I could own a quite high-end gaming desktop, a school laptop, a quite high-end music player, some nice blazers, shirts, pants, towels, a good pair of spectacles, and some nice gifts for GF, and yet probably still have spare for a nice Seiko automatic watch... the list goes on...
Compare this to 11K = one Rolex watch
Which derive more satisfaction with the same amount of money? (For me it's the former because I'm a peasant)
Everything is a balance between the cash you have, and the things you really need/want in any point of life, the kind of lifestyle you want, and how much you want to reserve for future use. So just my 2 cents.