So you have some spare change burning a hole in your pocket and you want to buy something, you just don't know what. The best way to determine what you should get next is to reflect on what you need and not what you want. Now I don't want to sound like a parent, but buying a new camera or lens because it is the newest thing and you want it a lot isn't the best justification for a purchase. Sure I'd like to have a tilt-shift lens, but it's a specialty lens that I do not need, what I really need is good telephoto lens that'll give me some more reach without having to use my teleconverter.

I'm going to separate this post in to a different sections, but many of my suggestions will fall into the same idea of getting what you need. Also, I won't be recommending much specific gear because everyone has different needs.

Camera:

So you've been looking over that new Canon 7D or the new Nikon D7000, or maybe you want a full frame 5D Mark II or the D700. The best way to determine the next camera you buy is to base it off of the one you currently own. Honestly, despite what Canon and Nikon want you to think, you don't need to buy a new camera every 12-18 months. It's wasteful spending, and unless there is a feature that you absolutely need, your money is better off being used to buy something else or to be saved. On average I have gone about 3-4 years between camera updates. Now if you're camera is old (by old I mean two or more generations behind current technology) or is honestly on the last legs of its life, then you may want to look into buying a new camera.

Lens:

Decided that you need a new lens instead of a camera? OK, but what lens do you need? The best way to determine the best lens that you need is to see if there are any gaps in your range. In my case, my gap starts at 200 mm, a little longer if I use my 1.4x teleconverter. That doesn't end my decision-making. I also look back and see what kind of photography I have been capturing. I've been doing some more indoor work, and I would like to take some more concert photography. Well, for that I don't need the range as much as I need a fast lens. Concert photography occurs on fairly dark spaces, so being capable of shooting at f2 or faster is practically a necessity.

Tripod:

Buy one. You don't need to buy the top of the line carbon fiber tripod, but you should buy a durable tripod, especially if you plan on using it outdoors. If you buy the right tripod, it will last you for a long time. If you buy a cheap tripod, be prepared to buy another afterwards. It will get the job done, but it won't be the best at doing it, and it won't last as long either.

Bag:

I've already written an article on how to choose the best bag for your needs, you can read that here. To sum it up, when buying a bag you need to look at what you intend to replace. If your bag is falling apart, get one that is more durable. Need more space? Get a bigger bag. Just be sure to buy the bag that you need. Want one with a good warranty? Naneu has a Limited Lifetime Warranty. Seriously, I've seen us replace a three year old bag for a brand new one. Not many people care as much as we do.

Flash:

I can't tell you what kind of flashes or strobes to buy. I can only tell you to buy something that is missing from your line up that you need. You don't need buy the latest Profoto lights if a slave-synched hot-shoe flash will work.

Various Camera Accessories:

What do I define as a camera accessory? For me, it is an item that is not listed above. Batteries, grips, memory cards, filters, etc. are a few examples. If it is adding a functionality that is not listed in the previous sections, it is an accessory. So how do you decide which accessory you need to buy? Well, what are you not getting out of your current accessories? I need more power, so I'll buy a second or third battery. For some DSLRs, you can buy a grip that uses two batteries as well as making it easier to hold the camera in a vertical position. If you are straining your hands and arms to hold the camera in such a way, perhaps you'll need a grip. If you're running out of space on your cards, then you'll need to buy a new card capable of holding more photos. Any accessories that you buy, you need to be sure that you will use them; there isn't any sense in buying things that you will not use.

I hope that these suggestions helped. If not, then the best thing to do with that extra money is to put it away and save it for another day. If you don't have any current needs, then pocket that cash and save it. You never know when you'll be in a bind and have to buy gear to replace something that breaks.