We recently bought a car in cash ($27k all told) and it HURT. I really didn't want to do it, but we couldn't get a loan for various reasons (namely we didn't have PA driver's licenses yet!). This was when we had over 6 figures in the bank. And it HURT to write that check.

Common sense would suggest that having a load of $$$ would make you free with your money, but instead (if you're smart), it makes you feel very protective of it.