Reinhard wrote
Something I have learned is instead of buying what you can afford at that time, rather wait and buy what you really want. It saves you a lot of money in the long run, even if you have to wait longer to get what you want.
+1. Excellent point. Not always possible, but if you can, do it. Also saving up the money over time for an expensive item means you have cash on hand ready in case a serious bargain pops up.
Second tip, buy USED, great deals to be had. A lot of 2nd hand gear is still in Excellent/mint condition and available a lot cheaper ?
Also +1. The first owner of a piece of gear takes at least a 25% hit when selling it on. Provided it stays in good condition (and provided it's not hi-tech), the same piece of gear keeps it's value if it's sold on again.