Is there anything wrong with me buying things to keep up with my friends?
Most young people want to be trendy. They want to do what their friends are doing without considering the intentions and consequences of the other's actions. Relying on external things, such as spending money to make you feel better, can bring about financial and emotional well-being issues.
The answer to your questions is in your “why” or your intentions. Why is it important for you to have the fashions and trends your friends are involved in? Does having what your friends have made you feel better about yourself?
It is important to examine your intentions and to have compassion for yourself. Self-worth can never be achieved through materialism. The reason for this is that you are judging your self-worth through appearances. Instead, consider what you like about yourself and what makes you unique and celebrate that. If you do that, you will attract those who share your values.