Do you think you spend too much on makeup?

According to The Gloss, Women spend $7 billion a year on makeup, and that's around $100 each.

Vanity Fare says in the U.S. alone, 68% of the 70 million women in the country (48 million) work and have money to spend on beauty, and $17 billion dollars is spent on makeup in the U.S. alone.

Some say, women purchase 2-3 times on average more makeup than they need or use.

The average woman owns:

7 Lipsticks but use only 2.6 of them on rotation
12 Eyeshadows but only use 5 of them on rotation <– the biggest category!
2-3 Mascaras but only uses 1 daily
3 forms of blush in various shades but only uses 1 daily
2 foundations and they use one or both daily

What do you think? Do you spend too much on makeup? Share your thoughts...