I actually really dislike splurging, but that is probably because of what I associate it with. I tend to splurge on something dinky/get that itch to shop (but not for anything specific) when I am feeling bad about myself or my life. When I am feeling less than fab or when I have haven't had the opportunity to do anything but work or other non-fun things (like visit the docs) I get the urge to splurge. I will pick up makeup or skincare items from the grocery or pharmacy, Sometimes I will also go to the mall or the shopping district downtown, but that usually just makes me feel worse because of being unable to find something to fit/looks good (our selection is EXTREMELY limited) or I can't really afford(without shifting some cash)/justify like some awesome yet expensive high quality boots. I tend to end up with products I hate or a ton of less than ideal products sitting around I feel I have to use up (we currently have 4 partially used conditioners on the counter) or something comes up and I feel bad about spending the money frivolously, because it generally doesn't make me feel better for more than an hour or two-- definitely doesn't solve the problem.
On the other hand, my new haircut is putting some pep in my step because it FEELS FUN, even if I haven't decided if I like how it LOOKS yet.