While money can purchase experiences and possessions that make you happy, certain things can feel needlessly overpriced. Especially when you can find items that are just as practical for much less.

An iPhone is a frequent wishlist choice, and it already comes with a high price compared with other smartphones. One company has put a one-million-dollar price on an iPhone by decorating its body with solid 24K gold and over 1,600 diamonds, including a single-cut 2-carat diamond on the home button! Want to indulge your newborn? What do you think of a silicone pacifier with a white gold handle and encrusted with 280 diamonds? It will cost you $17,000. That feels even more outrageous when you remember it will end up covered in baby drool.

How simple do you think it would be to totally burn through a million dollars in only one week? Choose the most extravagant things you would purchase to find out whether you could spend the money successfully!