Here's some excellent advice from Coagula.com:

I made a conscious decision this year to buy more art. If you are a Mormon in good standing, you tithe ten percent, if you are a member of many denominations, you tithe ten percent. If you are in the art world, you should spend ten percent of your income on art. That is the line that I am going to draw in the sand. You are either on the bus or off the bus.

I don’t care if you are Jeremy Strick getting kickbacks on your retail art purchases made with MOCA money - ten percent of your net income should be going to the purchase of art (and of course, if you can get it at studio prices, you should buy twice as much). And this is not an issue of consumption - it is a demand for an ongoing support or an insistence that you shut the hell up about “fixing” problems with the art world.

Complete article here.

I would buy more art if I had money right now, and I do buy art. Much of the paintings I have sold are purchased by other artists, which is twice as good because you are selling to your peers. So get on the bus and buy art!