• S. Parris

Luxury on a budget

Updated: Jan 2, 2020

Early twenties are that point of our adult life where we're transitioning between that "YOLO" mentality and adulting. Some of us have very little, to no financial responsibility, which allows us to splurge more often than others. But for some twenty somethings, you have to balance your luxurious wants with things like car notes, insurance, rent, or even children. Fortunately there are some ways in still getting that nice bag you want or going to try that new restaurant you seen on yelp. Even if you are in the place to splurge when you want, who doesn't love to save some money?




Saving for the cause

So let's say you see some shoes you really want and have been wanting for some time now. You've been hesitant because they're a little over the price you usually pay for shoes, and shut down the idea of having them. BUT, putting aside some money every time you get paid might get you those shoes sooner than you think. Let's imagine those shoes are $600. You can put aside $100 from every paycheck (200 a month) and have them in 3 months without having to use a credit card. Now obviously this method will work according to your paychecks, the actual price of the item and how much you can afford to put aside out of every check, but its one way of getting those small luxuries you want.


Got Credit?

Now as you may know from my previous post about saving money, I'm not a huge condoner of using credit cards for shopping. Usually, my motto for using my credit cards (unless for an emergency) is "If you don't have it in your checking account don't put it on your credit card". However, if used responsibly there is definitely some benefit in using credit to purchase expensive things. For one, let's say we're still on those $600 Manolo Blahnik shoes you seen, but you only have $300 right now to go towards them. What you can do is buy the shoes on your credit card with the least balance and lowest APR, pay that $300 you have to spare on that card immediately after you purchase, and split the remaining $300 over the course of the next month. This way your card balance isn't super high and the shoes are halfway paid for. I only suggest this method for those who are self disciplined and have good credit, otherwise you might find yourself paying back that next $300 over the course of six months rather than one.


Luxe Hunting Ok, so let's say you weighed all your other options but still can't see yourself paying full price for anything over a certain amount; there's still another option. Bargain hunting! One of my favorite pass times. There are plenty of retailers who sell luxury and designer items for a percentage of the price. Although it may takes some searching and scrolling, you might get lucky and find exactly what you're looking for. Now personally, I have no shame in shopping for bargains because I work for my coins and occasionally I like to keep them. But if you're the type of person who wants to keep your bargain shopping under wraps you can always shop online. Some stores that carry vintage and luxury items are:

TJ Maxx www.tjmaxx.tjx.com (before you turn your nose up, I've seen Christian Louboutins found here for like $150 less than retail price)

Century21 www.c21stores.com (great for vintage luxury items too)

Saks off 5th www.saksoff5th.com

Bloomingdales Outlet (doesn't have a site)

Neiman Marcus Last Call www.lastcall.com

Nordstrom Rack www.nordstromrack.com

www.theoutnet.com

www.bluefly.com

www.hautelook.com (in association with Nordstrom)

www.gilt.com

There are so many outlet stores and sites that sell authentic luxury items for a discounted price. Most of the time it takes some random searching through racks and websites but if you happen to find what you're looking for its worth it.


Consignment

Consignment is when people sell their unused or barely used items for a cheaper price. This is more of a case by case option, however, there are some websites where you can sell and buy items for cheaper prices. For example, someone may have received a pair of Gucci sunglasses that retail for $460 as a gift and never wore them and are selling them for $300. I only recommend two websites for this because its the most secure option. I don't recommend ever buying anything on instagram or from someone you don't know, or a website that isn't secure or authentic. Also, selling some of the things in your closet may also allow you some extra pocket money for the things you like.



www.poshmark.com (I've sold and bought BRAND NEW items on here before) Poshmark is secure and they'll authenticate any item you buy thats over $500. If its not authentic they return it to the seller. You also get to make offers (bids) on items. You can file cards on Poshmark or use PayPal, and the funds are not released to the seller until after you've received and accepted your item.




www.Tradesy.com tradesy also has a large selection of designer and luxury items. Like Poshmark, you can filter your search to items that are new with tags. However, tradesy does not allow you to make bids. Its also a secure site in that it authenticates items and allows the use of PayPal. In the event you prefer to break your purchase down into payments, Tradesy also offers Affirm to make lower monthly payments on items you buy.


Luckily there are other options for having the things you want other than breaking your pockets. Sometimes you're going to have to not have things until you're in the position to get it without going broke. I hope you were able to take at least one thing from this post and can find that new bag or those shoes you were looking for. You can also use these methods for other luxuries other than materialistic things. Never be too proud to use Groupon for a discount on happy hour, massages, a new manicure, or whatever else you're looking to do.


Happy Shopping <3


"Never go broke trying to look rich" - Dad, 2012