Recently, I shared my ultimate payday routine, detailing how I budget my money effectively and make the most of my income. The response was fantastic, so I decided to follow up with another post (and video on YouTube) focusing on a topic many of you are curious about: how I afford luxury items without breaking the bank.
If you haven’t read my previous post yet, I highly recommend checking it out after this one as well as watching the videos which I’ll share at the bottom of this post. Now, let’s dive into the strategies I use to make luxury purchases fit into my budget seamlessly.
Afford Luxury Items on a Budget
Clothes: Quality Over Quantity
One area where I used to splurge excessively was clothing. However, I’ve learned that investing in key pieces, like a well-fitted pair of jeans or a quality coat, is more economical in the long run. By focusing on building a capsule wardrobe and calculating the cost per wear, I ensure that every clothing purchase adds genuine value without draining my budget.
Grooming: Smart Choices for Hair Care
Maintaining a luxurious look doesn’t have to mean frequent salon visits. I’ve found a balance by stretching out salon appointments, opting for low-maintenance hairstyles such as balayage and not getting it cut very often, and investing in products that promote long-term hair health as well as not washing it so often to help everything last longer.
Travel: Upgrading Smartly with Points
Travel is a passion of mine, and I’ve found a savvy way to indulge in luxury experiences without overspending. By leveraging credit card rewards and points, I often upgrade flights without paying extra, making every trip feel like a luxurious adventure. I use the Amex card which gives me Avios points every time I shop, so I’m getting upgrades without spending money on them! If you can be sensible with paying off your credit card every month then it’s a great way to get this benefit. You can get a welcome bonus of 4,000 Avios points with my referral.
Accessories: Prioritising Value Over Brand
While designer handbags and watches are tempting, I’ve shifted my perspective to prioritise value and functionality over brand names. Embracing pre-loved items and choosing versatile accessories allows me to enjoy luxury without the hefty price tag.
Phone: Smart Purchasing Decisions
Instead of committing to expensive monthly contracts, I prefer to purchase my phone outright and opt for budget-friendly SIM-only plans. This approach not only saves me money in the long run but also ensures I have the latest technology without breaking the bank. It blows my mind that some people spend £60+ per month on their phone contract! I pay £10 and never run out of data.
Car: Long-Term Investment Mindset
Cars can be a significant expense, but I’ve chosen to purchase mine outright and avoid the cycle of frequent upgrades. By adopting a long-term investment mindset, I prioritize financial stability over flashy purchases.
Skincare: Luxury Without the Markup
Luxury skincare products can be pricey, but I’ve discovered a fantastic solution: AZIO Beauty. Their high-quality skincare formulations come without the hefty luxury brand markup, thanks to their direct sourcing from top laboratories. Plus, using my exclusive code “LARA30” gets you an additional 30% off already discounted prices you can grab yours here – https://bit.ly/3IAwGvK (This offer is valid on subscription items only, cancel anytime.)
Budgeting: The Foundation of Financial Freedom
At the core of my approach is diligent budgeting and financial planning. I utilize tools like Plum for automated savings and maintain separate accounts for various financial goals, ensuring that luxury purchases are accounted for without derailing my overall financial health. I also use my budget tracking tools on my website which help me track my spending, saving and everything in between.
Conclusion: Afford Luxury Items on a Budget
In summary, affording luxury items on a budget is all about making smart choices, prioritising value, and maintaining a long-term perspective on financial wellness. By implementing these strategies and embracing a mindful approach to spending, anyone can enjoy the finer things in life without sacrificing financial stability.
I hope you found these insights valuable and empowering. Remember, luxury is not defined by price tags but by the joy and satisfaction it brings. Here’s to living your best life within your means!
If you enjoyed this post, don’t forget to pop over and watch the YouTube videos to help you budget your money and afford luxury items without breaking the bank!
If you have any questions or additional tips to share, I’d love to hear from you in the comments below.
Until next time, happy budgeting and indulging in life’s little luxuries!
What do you think?