Where do we draw the line on expenses?

Husband (30M) and I (28F), DINK, have a combined after tax income of 75lpa. We have recently paid off our loans, monthly necessities (incl. rent) come ~80k. We have an emergency fund of ~1 year expenses. My husband drives a sub 10lakhs car and is not planning on upgrading for atleast 5 years. Yet, given all that we are still very uncomfortable spending on luxuries. My husband who really appreciates a good TV experience really wants to buy an OLED Tv which costs upwards of 2lakhs, but just can’t bring himself to justify this kind of expense. Another example- he recently upgraded to Galaxy Watch 4 from an Mi Band that just cost 13k and yet he regretted it. Are we cheap or reasonable? Is there any rule?