Gucci, Prada, Louis Vuitton, Versace, Chanel – no person interested in fashion doesn’t know those luxurious brands. Over the years, they have continued to release fashion lines that offer exquisite design, excellent craftsmanship, and fancy prices. That’s what makes them so popular, as with their exclusive character, they’ve become an indication of status.
With prices reaching even thousands of dollars, the fashion lovers on a budget might despair. Namely, how can you afford luxurious pieces if they can cost more than several of your monthly salaries? It might seem like a distant dream, but it’s not. You just have to create a solid strategy for your shopping.
Here’s what you can do – budgeting, buying preloved, hunting for sales, or going to outlets. You should also put quality over quantity, avoid fast trends, and think a few days before purchasing. Still, think you can’t own any products with iconic brand logos? Here are some tips to help you afford luxury fashion on a budget:
Create a Budget
Budgeting is key if you want to save money. Think of how much you can afford to spend on a single piece and stick to it. Make a list of all your expenses, such as rent, utilities, transportation, food, and other bills. Add up the total amount you’re paying monthly, not forgetting the taxes.
Remember that spending money on luxury items should be left for once or twice a year and that you have to have a plan on how to use the savings in between; you might also open a savings account to keep the money safe until it’s time to shop. However, make sure not all of your savings go to fashion designers. Set aside a certain amount for your expenses and luxury purchases to maintain your financial health.
Start a Side Hustle
One of the best ways to afford luxury items is to have a side hustle. It could be a freelance job, a business of your own, or even a part-time job if your time allows it. One way or another, it will help you bring in extra cash, which you can use for saving up for a nice designer piece.
For instance, if you’re interested in sports, you can start betting. In this day and age, all you need is an internet connection. You can download a Betfred mobile app, for example, and start betting right away. However, be careful with this activity, develop a strategy and a monthly budget to ensure you aren’t, in fact, losing instead of earning money.
Or, if you’re good at writing and you want to start your own blog, then do it! All you need is a computer and an Internet connection. With time and dedication, you can turn it into your full-time business or even start selling your own online courses or products. You should know that with some effort and dedication, you can easily earn thousands of dollars per month.
If you’re not yet convinced that budgeting is a good idea, here’s another approach – buying preloved high-end products instead of new ones. Sites like eBay are excellent places to find thousands of second-hand items by luxury brands.
In addition, there are various online stores that specialize in selling high-end products at affordable prices. An example would be Vestiaire Collective, which sells many famous brands at 30 to 70% off the original retail price.
Hunt for Sales
Luxury fashion brands often have sales on their items, offering discounts of up to 80% off. Thus, if you know you want a specific piece, wait for a sale before purchasing and see if you can find a better deal online or at an outlet. Also, check if the brand has any events or promotions coming up so you can catch a bargain there as well. If you’re often tempted by sales offers, subscribe to newsletters or mailing lists of your favorite brands, so you don’t miss out on them.
Look for Outlets
When it comes to saving money, going to outlets is one of the best options. Big luxury brands often have outlets where they sell their items at discounted prices; these can be pieces from previous collections or those returned to the store. They offer the same quality, design, and materials as their original counterparts but at affordable prices. Namely, if you’re lucky, you might be able to find some deals you won’t want to miss out on. To find official outlets, you can search on the brand’s website or Facebook page.
Think Twice Before Buying
If you really want to buy something that costs $100 or more, think about whether it’s worth the price tag. Ask yourself if you need that specific item in your wardrobe so much that you’re inclined to part with a considerable sum. If you need it, see if similar items are available at lower prices.
For example, if your dream is to own a designer handbag, think about how often you would use it and if it would match your lifestyle and needs. If it costs several hundreds of dollars but will prove impractical for your daily life, there’s no point in buying it even if you love it since it would just sit in your closet unused, gathering dust. Instead of spending such an amount of money on an item that won’t be used regularly, save the money for something else that would be more useful and beneficial in the long run.
Pick Timeless Pieces
As you know, trends come and go in a constant cycle, and in the chase for the latest fashion, you might spend a hefty sum. Before making the purchase, think about which item you want to buy and how often you would use it. Namely, if you’re buying a piece that will be used only a few times this year, you should think twice before buying it. Pick timeless pieces instead of trendy fashion items, so your investment will last longer, and you won’t end up spending money on new items every season.
It’s true that buying luxury items is not for everyone. If you have the means and you’re interested in buying them, why not? But if you’re on a budget, it’s important to stick to your limits and still be able to afford high-end products from time to time.
So, if you want to buy a Prada bag or a Louis Vuitton purse someday, make sure to start saving money month after month. If you invest in quality over quantity – sticking to items that will last longer and work with many of your outfits – you’ll see that you can afford pricey luxury products.
A few years down the road, you’ll still be wearing them, and when someone asks about them, you’ll have a story to share.