I have one nice watch and one cheap watch.
It's just a minor accessory. It's not my identity - my whole life doesn't hinge on whether I'm wearing the nice watch or the cheap one - it doesn't make a damn bit of difference to me how my day will turn out. I'm still going to make the same money, eat and drink the same foods, go to the same places, bang the same chicks, rub elbows with the same people, go home to the same house, etc.
Buy what you want to buy because you want to buy it and can afford it. Not because you're compelled to spend yourself into the poor house or do without more important things because you're obsessed with trying to impress people.