6 Tips on How to Afford Luxury Designer Items

Whether it’s that Versace bag you’ve been eyeing for months or a brand-new piece of wearable technology you can’t wait to get your hands on, luxury designer items come with a hefty price tag for a reason. They’re almost always going to make a sizable dent in your wallet, especially if you buy them compulsively! 

But there’s absolutely nothing wrong with getting your hands on a high-quality pair of shoes or a designer cardigan once in a while. After all, we only have one life! So we should do and buy things that bring us happiness and excitement. 

What’s important here is that you do everything you can to save money for your purchase. Doing so ensures you’re not drowning yourself in debt and still achieving your financial goals.  

Here are some tips on how to afford luxury designer items without dealing with financial stress! 

Make Room For Your Purchase By Saving 

The very first step you should take to afford a luxury item is to save more regularly. You can even go as far as opening a separate savings account exclusively for non-essential spending so that you can make guilt-free purchases. 

The trick here is to save a small amount of money consistently. Within a short time, this should yield a lot of wiggle room in your non-essential spending budget. 

Try these simple strategies: 

• Re-evaluate your subscriptions and cancel those that you don’t use regularly or at all. This includes TV or streaming services, internet plans, weight loss programs, publications—you name it! 
• Bring snacks and lunch to work instead of going out to eat. 
• Brew your own coffee rather than getting it from coffee shops. Say goodbye to Starbucks for a while! 
• Shop groceries with a list and stick with it to cut down on impulse buying. 
• Take fewer taxis or Ubers. Simply walk, ride a bike, or use public transportation. 

These sound simple, but the key here is to be consistent. Trust us, it’s more complicated than it looks, so make sure you’re following these strategies to a T!

Focus On Reducing Other Costs 

The thing about buying a luxury item is that you’ll have to cut costs in other aspects of your life. Now, this doesn’t mean you should skimp on your necessities! Instead, focus on the more optional costs or ones that have an alternative. 

Here are some examples of ways to cut your living expenses so you can treat yourself to something nice: 

• Get your nails done every other week rather than every week. Better yet, buy nail polish at a nearby drugstore and DIY it! It’s a great way to let your creativity shine through. 
• Have friends over for homemade pizza night at home rather than going to an expensive dinner. 
• Instead of paying for a costly gym membership, exercise at home! You can also run or jog around your neighborhood. 

Do Some Freelance Work 

If you’re fortunate enough to have plenty of free time in your schedule, make the most of it by taking on freelance jobs that can help you earn an extra buck or two. 

Here are some ideas to get you started: 

• Sell some of your pre-owned items on eBay or Craigslist. 
• If you’re a crafty person, try selling your work on Etsy or Amazon Handmade. 
• Consider taking up freelance work if you have downtime in between jobs. 
• Fill out online surveys on sites like Swagbucks, Survey Junkie, and InboxDollars. 
• If you have a skill you’d like to share with others, try hosting online workshops or classes. 

Go For Quality 

Whenever you treat yourself to something fancy, make sure it is high quality. Expensive shoes, the latest smartwatch, or designer jewelry—you name it!

Remember that you’re going to spend a lot of money on these purchases. So you’ll want security and peace of mind knowing that what you buy will last a very long time. 

Additionally, make sure to give your luxury purchases extra love and attention. The last thing you want to do is unintentionally ruin something for which you paid a significant amount. 

Wait For Sales & Discounts or Buy Preloved Items 

One of the best ways to make luxury designer items more affordable is to get them while they’re on sale. 

Sign up for the brand’s newsletter on its website. This way, you’ll frequently receive marketing emails letting you know what’s new and on offer. Take advantage of this and buy at the lowest price.

You can also purchase pre-owned luxury items from consignment shops and online marketplaces. Try sites like Fashionphile or TheRealReal, as they also sell designer apparel and accessories.

Why Not Rent It? 

If it’s a trendy item that will go out of style sooner rather than later, renting that luxury item might be the best option for you. 

You can even save money by renting multiple luxury items at once rather than purchasing them all separately.

This option can come in handy when you’re organizing a big event or attending an important business affair. Renting allows you to coordinate your attire with the venue and make yourself look as polished and chic as you can without spending a lot of money. 

Check out sites like Rent The Runway, Le Tote, Haverdash, and Style Lend. 

Get Something Nice For Yourself Without Sinking Into Debt 

It’s more than okay to indulge in a little luxury every once in a while. What’s important is that you’re still taking care of your basic needs first. 

As long as they don’t hinder your financial goals, go treat yourself to that exquisite handbag or those jaw-dropping pair of shoes! 

For fun and informative fashion articles, check out Senseorient’s blog!