Of course, one has to avoid leakages and wastage in these hard times.
But if you had the money and are intending to use it on something, now is a great time for it. There are sales everywhere. Manufacturers and malls are trying to keep the economy going by getting people to buy, buy, buy so they're all offering sales and cutting down on middlemen costs and maybe even percentage income. Better some income than none, after all.
So scout your usual shopping haunts for good buys. I recently saw an LCD TV which would require a TV wall mount but offer more walking space in our living room for only P10,000. Bed frames are also being offered in bargain prizes. And all at zero-interest if you don't quite have the cash just yet.