For me if I couldn't afford it then I wouldn't buy it, if it is something that would ruin my budget then I wouldn't do it.
I know there are people who enjoys travelling or buying stuffs or even spending much on celebrations, I am fine with it if they have enough money for it, but if they would borrow after doing it or for it to happen then it is something that I wouldn'it understand.
Why would they force to do it, if they couldn't afford it with their own money?
You are absolutely correct, in this life, we shouldn't do to impress anyone because when we go bankrupt, they won't be there to help us instead they will mock us even insult us.
Even if some of them will help us, they will eventually be tired of helping us one day.
So like they said that " we should cut our coat according to our size" not according to other people's size, we learn to please ourselves than impressing others because no matter how good or no matter how we live our lives, people will always have something to say. So I think we should live to best of our abilities.