Today I am going to talk about 7 tips on how to save money for luxury items without getting yourself into trouble buying them!
Tip #1) First thing that you need to do before you even think about what to buy is figure out how much money you have coming in and out every month. Figure out your monthly expenses and make sure that you are leaving money for future savings and emergencies.
Tip #2) Once you know how much disposable money you have each month, decide on an amount that you are willing to put aside for the luxury item that you are wanting. Make sure that you really think about this based on the kind of lifestyle that you are living. Such as if you go out with friends a lot maybe you don’t put quite as much away each month, or see if you could cut down on just one spending activity a week and put the money you would have spent towards the item.
Tip #3) Now that you have decided how much money you can save each month, you need to basically forget that the money is there. If you are tempted to take the money out and spend it on separate things maybe think about keeping it in a separate account or putting the money in a jar that way you aren’t tempted.
Tip #4) Now that the finances are in order you need to decide what it is that you are going to work towards to buy. Make sure that this item is something that you will use a lot and that will go with a lot of things. You don’t want to spend a lot of money on something that you only wear once or twice.
Tip #5) For the next couple of weeks think about yourself with this item and ask yourself a few questions. Does this go with my overall style? How many outfits go with this item? Is this something that will go out go style in a couple of months? If you feel confident that this item is the one that you want after asking yourself these questions and imagining yourself with it than most likely it will be a good buy.
Tip #6) Now buying things new is great and all but have you ever considered buying something second-hand? There are quality items out there that won’t cost you as much as new but will still give you the satisfaction that you are looking for. A great place to find high quality items that you can trust is Poshmark.com. This website is a place that you can buy and sell items from designer names to department brands. You can read people’s reviews and the website will even tell you when deals on certain brands is happening!
Tip #7) If you are a hoarder and are just collecting dust on items why not sell them and put that money towards buying something that you will actually use? It’s a great way to keep your closet uncluttered while making sure that you love everything that you own!
Love, Amanda Mae