As someone who makes jewelry and occasionally sells it for real cash money, I used to find it hard to treat myself to a new jewels. Should I spend my hard earned paycheck on something I could make? It took me a while to get there, but the answer is an obvious YES. Unless you are a professional crafter, no one has that much free time and at a certain point you have to draw the line (after all, we can kinda make everything if you think about it). Ultimately, it becomes a question of time management and pride. What do you want to spend your time on and how much time are you willing to invest?
I will always make time for something that seems fun, but if I'm being honest, I prefer to make things that I know will turn out nice and that don't look like I made them.

Hot Chocolate Spoons: shop or make yourself the perfect combo - either way it's super YUMMY.
Hand Painted Mugs: DIY (more inspiration here) or treat yourself - might need a steady hard for this DIY.
Wool Alphabet: this seems hard while this seems easy - this one is a no-brainer for me.
Animal Bookends: purchase what you are looking for or spray paint your kids old toys.
Patterened Bowls: golf leaf paper mache stands up well against West Elm's Ikat collect - both are gorg :)
Painted Wooden Spoons: easy and easier vs cheap - it's a win-win, such great housewarming gifts.
Watercolor Wrapping Paper: save more for the gift vs. giving like a pro.
Children's Wooden Blocks: paint your own family or adopt someone else's (for a nice chunk of change).
Wood Jewelry Hanger: driftwood awesomeness vs. cute little animal heads - love both of these!