How do you afford your bags and how many per year? Credit debt or millionare lover?

[floodette]

I think it's smart to put purses on credit. If I buy 3 Chanel bags in a year, that is at least $12000, and a lot of points. The key of course, is paying your card in full every month, which I do. I have no debt, mortgage or loans, but two kids.

totally agree on CC usage, as long as paying the card in full. The points can then be used for plane tickets, etc. that way, i think my bags are 'contributing' to my vacation.

 

[NicoleW4240]

I'm a 27 year-old single minimalist usually making over 6-figures (work in sales so this varied) By minimalist, I mean extremely mindful of spending.

I put my money where my mouth is. I'm passionate about handbags, shoes, culture-immersion/adventure travel, building a small future real estate income stream, and having a future family.

Only after paying all debts (with the exception of mortgage) did I even consider how to plan for the others. I then bought a condo that's just 8% of my income, have a substantial condo and personal safety net and maximize my retirement accounts. I keep to a tight budget and am currently about to order my 3rd luxury bag (already have Chloe rounded cross body, mulberry Bayswater) after building my shoe collection (2X lanvin flats, Burberry oxfords, prada rain boots, jimmy choo high heels, Nicholas Kirkwood mid-heels, and ever land oxfords). I'm lucky enough to work in an industry that offers me these luxuries and I don't take is granted for a second.

 

[TNgypsy]

I'm a 27 year-old single minimalist usually making over 6-figures (work in sales so this varied) By minimalist, I mean extremely mindful of spending.

I put my money where my mouth is. I'm passionate about handbags, shoes, culture-immersion/adventure travel, building a small future real estate income stream, and having a future family.

Only after paying all debts (with the exception of mortgage) did I even consider how to plan for the others. I then bought a condo that's just 8% of my income, have a substantial condo and personal safety net and maximize my retirement accounts. I keep to a tight budget and am currently about to order my 3rd luxury bag (already have Chloe rounded cross body, mulberry Bayswater) after building my shoe collection (2X lanvin flats, Burberry oxfords, prada rain boots, jimmy choo high heels, Nicholas Kirkwood mid-heels, and ever land oxfords). I'm lucky enough to work in an industry that offers me these luxuries and I don't take is granted for a second.

Good for you! That's great! You set a great example not just for young people but young and old. [emoji4]

 

[thel]

Be careful of the Purse Forum slippery slope. Many here joke about it, but it is real - you end up buying bag after bag after bag, spending more than you can and should, because you see all these bags being revealed that you never knew about, and there are so many "enablers" telling you to get both because you "deserve it" and it looks fabulous on you, and your SA is now giving you heads up on pre-orders or pre-sales, etc. You have been warned.

Now I'm not saying you shouldn't get the bag. If you have the money and you're being responsible, why not? But here are a few tips to avoid the slope.

1. Make a list of the bags you want ( hopefully it won't be a long list) in the order of how much you are aching to have them.

2. If there is a specific designer bag you want, buy that bag and only that bag. Do not compromise with similar bags from other designers, copies, knock-offs, etc! Compromising is unfulfilling and you will end up spending more in the process.

3. If you have several bags on the top of your list, buy the classic that keep going up in price first. If it turns out not to work for you, you can resell and recoup a big part of the cost.

4. Speaking of "not working out", research, research, research. The brands you list are very expensive and bad purchases could be costly so you want to make sure the bag/shoes looks good on you/fits, that it functions as you expect, and that you can wear it when you want.

5. Similar to my last point in #4, use your bag. There are soooooo many people here who post about not wearing their bags because they're a) too expensive b) too delicate c) don't suit their lifestyle d) get snarky comments from coworkers/friends/relatives. If you're going to be like that, then don't buy the bag because it would just take up your money, closet space, and make you feel bad in the process.

6. Finally, be self-aware. Don't get swept up in the hoopla. Buy the bag you want because you want it - not because of some external pressure or the internal pressure of your fantasy life.

I love this! Such great advice!

 

[Precious84]

Former career woman here now spoiled wife/full time mom. 😉 Before having a baby, there was a time I got to as much as 10 bags a year! Now, it's just May and so far...there has been a Chanel, two LVs (one purse, one SLG) and a Hermes 🙈

Sent from my SAMSUNG-SM-N900A using PurseForum mobile app

 

[thel]

My DH and I both work hard and make decent money. No kids. I pay my half of the bills and our health benefits (my employer offers a better package than his) and I save at least 10% annually into retirement. I don't ever "ask" per se if I "can buy a purse", but I try to be responsible and I always disclose after the fact. We both purchase luxury items as we wish and within reason. Never, never, never on credit. I have only 1 credit card that is kept for hotel and car rental authorizations and not much else.

Usually we tend to get swept up into a "craze" together... last year it was recreating our bedroom, right down to fancy pillows and vases, this year it's been boots and handbags. We have fun together sharing and treasuring our finds. I think he loves gazing at my treasures when we're out on dates as much as I do! It's a blast and I'm really lucky to have such a partner and that we're both well employed.

I was married once before to a man who controlled every aspect of finances and wouldn't let me work a job outside the home. I said, NEVER AGAIN. I am so much happier now!

A wonderful, supportive DH can make such a big difference! I am naturally very frugal, but over the years my DH has encouraged me to spend more on myself. That said, I've still never spent anywhere near even half a percent of my savings on a handbag.

Oops, didn't realize this thread was so old! Still love so many of the responses!

 

[ginvickery]

I'm 34 and I'm a masters degree prepared nurse. I work at a public health department and make decent money. I live in my mom's old house that is paid off and have no credit card debt. I don't buy expensive clothes or shoes and my only vice is luxury handbags. I only buy preloved and I try to only buy what I love. If I find a bag I love more than another one in my collection, I often sell the old one first. I also purchase mainly from sites that allow layaway and this helps a lot. I am single but only have one teenage boy at home. I have only started buying designer bags this January, but I have already sold the ones that do not work for me and this has helped me to learn what I really like. I've found that I really need crossbody styles and I try to stick to those.

 

[Cloudburst2000]

Good, old-fashioned hard work is how I pay for everything. I have a good paying job. I didn't start out having this great paying job. I started with a decent but not large salary, and through hard work was promoted in the company to where I am now. So many work places DO recognize hard work and will reward people for it. I also get a break in my rent because I help manage the property. I am not married and have no children so that saves much money. I don't have any loans...car is paid off as are any school loans. I rarely use my credit card (usually only for hotels, flights, etc) so no CC payments either. I also don't have cable so that saves a ton of money. I rarely watch TV anyway. Pretty much my only bills are rent, gas/electric, Netflix, car insurance, phone, and food. Everything else is surplus cash. I put a good portion into savings and the rest I spend as I please (travel, entertainment, handbags, etc).

 

[BAGLADY 3375]

My husband funds my bag habit-a total enabler. He will even buy both bags if I can't decide between 2. He has always wanted me to have beautiful things because he says i deserve it. I used to shy away from it and turn things down but now that I'm in my 40's, I'm like WTH-enjoy the spoiling. The kids are in college and I'm more than half of 80! Let's do this!!

 

[LovingLV81]

Sales ... good sales and saving up .. a couple of times I have used the CC but not often . Plus having a very supportive husband who is ok with my purse hobby lol [emoji23]

 

[shengnes]

I just recently purchased alot of purses on sale. I haven't decided what to keep but I worked alot of overtime to pay for them. Probably will end up keeping more than I should. Before this I usually only purchased one purse a year if that.

 

[ironic568]

I took a crash course in "How To Marry a Millionaire".........

 

[SohviAnneli]

I work and buy my bags with my own money. So far I have bought one bag per year from 2014 on, except this year. I just bought my second bag of the year, I have had much more disposable income this year. Every month I put some money aside, and sometimes I buy a new bag. But I can be thinking and crushing over a bag quite a long time before I pull the trigger, I don't do impulse purchases.

 

[MaseratiMomma]

My lover, AKA husband, purse pusher, & bag enabler. All I have to do is look at a bag and he is already talking to the SA while I frantically text him that I’m leaving the store and he better not buy me anything. I keep dropping hints that this virus is a good reason to stop buying bags for a while.

 

[elisabettaverde]

error