Desperate times call for desperate measures?

V

vanojr9

#1
Ladies and gents, I'm thinking of <gulp> officially ending my bag collecting days. Handbags are still my number one fashion obsession, and I love collecting them and using them, but more and more I feel irresponsible owning so many while living paycheck to paycheck (I'm a grad student on a small stipend). I'm just so tired of being broke every month, I'd love to build up a sizeable savings account to feel a little more safe. So I'm thinking of selling all but 2-3 of my bags on eBay to make that happen. Am I overreacting? Am I simply being rational about my financial situation? I LOVE my bags, especially the LVs :love: , but maybe at some point in my life I'll be able to own them without worrying that I'm shooting myself in the foot by spending money on them and not saving money for the future. Any advice from former/current grad or college students? Thanks :shame:
 
#2
You're not overreacting. I actually have the means to collect more and don't. . . although, collecting them isn't my schtick so much.
There will ALWAYS be handbags. Do what you need to do, being responsible and saving is paramount.
Having a 'nest egg' is the right thing ;)
 
#3
i'm a current grad student and i've stopped my spending on bags almost entirely.......i love bags with a passion and love obsessing about them, but at this point in my life i just can't justify spending all of my money on bags.......i have so many other necessities right now (work clothes, shoes, etc.) and i feel really guilty spending thousands on a bag i don't even use (i'm more of an admirer than a carrier :noggin:), and i also know that once i graduate i'll be making enough to buy whatever i want, so i just keep telling myself to hold off for 2 more years (or at least until next summer when i actually start getting paid :graucho:).....that is after i buy the damier speedy tho :upsidedown:
 
#5
It sounds like you already have a lot of nice bags...so maybe just focus on enjoying those for awhile, then cut down on new purchases...rather than making it an "either/or" situation.

I've been in grad school for a long time (too long!) and I've gone through phases where I've been spending way too much. But then I just cut down, rather than depriving myself completely, until I've saved and feel more secure.
 
#6
I think it's all about striking the right balance.

It's not so much of a problem if you have already bought the bags outright (unless you put yourself in severe debt to get them?!) in which case then i would say you would most probably have to sell them on to pay the debts off that you have accumulated.

If you bought them with cash and literally 'own' them with no debts, then i personally think you should hang on to as many as you can, enjoy the ones you have got, and maybe, as someone said above, don't buy anymore until it's easier for you to be able to spend the sort of money you're talking about.

And some bags will become harder to find as time goes by so think about it carefully, you wouldn't want to regret giving up your beloved possessions for a panic five minutes.;)

I hope you come to a decision that feels right to you!:yes:
 
#7
I am on the verge of stopping completely right now. I have too many bags and I know it and I still want more. I want to save up and for a while I did but not recently. You're not alone.
 
#8
vanojr9 said:
Ladies and gents, I'm thinking of <gulp> officially ending my bag collecting days. Handbags are still my number one fashion obsession, and I love collecting them and using them, but more and more I feel irresponsible owning so many while living paycheck to paycheck (I'm a grad student on a small stipend). I'm just so tired of being broke every month, I'd love to build up a sizeable savings account to feel a little more safe. So I'm thinking of selling all but 2-3 of my bags on eBay to make that happen. Am I overreacting? Am I simply being rational about my financial situation? I LOVE my bags, especially the LVs :love: , but maybe at some point in my life I'll be able to own them without worrying that I'm shooting myself in the foot by spending money on them and not saving money for the future. Any advice from former/current grad or college students? Thanks :shame:
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I don't think you are overreacting, and I think it's always better to save money for the future. You never know when you need it right. I love bags but I am still a student so I don't have a big collection. If you do that is great! You can stop collecting it now just get something you really really like and use it for now and when you sure you can start collecting them again you can!:biggrin:
 
#9
Thanks for all of the fantastic advice, ladies! I'm feeling better about the decision already. I've decided to keep a few more bags than I originally planned because I use them frequently. I figure there's no reason to sell bags I use because I'll just end up buying another bag to replace it. So I'm keeping 4 Coach bags (one school tote, one winter purse, one going out purse, one old tote bag that I still use occasionally), one BR bag for my summer bag, and two wristlets for special occasions (a small winter wristlet from Coach and a shiny gold one from Kate Spade). I'm very happy because I love all of those bags and I know that I'll get a lot of use out of them, so they are good investments still. But everything else, including any really expensive bag, will go. Hopefully I can build up about $1K in sales from everything to put in my savings account.

I'm very excited about this plan, though I'm losing some pretty bags. I'm already thinking about what kind of bag I can ask for for my birthday...no more bags until then! I'm officially living vicariously through you lovely ladies and gents :smile:

kathyrose, PM me if you ever want to chat about your bag situation! I feel the same way completely!
 
#10
I think that is great - I remember when I used to live paycheck to paycheck and it was really stressful!! Now I take on extra gigs as a makeup artist or stylist on my off days and use that money as my 'shopping' money and never touch my actual checks which afford me a lovely living situation and savings program so all is finally ok. Its totally appropriate to not spend your living expenses on material goods - after all, your bags aren't going to buy you a house or a car ;)
 
#11
I'm a grad student as well. I just went on a big spree (well big for my lowly stipend) and now I've got to stop for awhile. Hubby works too so that helps..but we bought a house this month.
My plan is to take a little extra every montha dn transfer it to savings....hopefully after a couple months I'll have enough for another spree.
I think it's wise to slow down for awhile...spend when you have the free $.
I'm looking forward to seeing your auctions! I'd take good care of them :smile:
 
#14
I think you should put some money aside, and if you need to sell a couple of your bags to do it, then do so. It's never fun having to worry about the next incoming bill (although I would recommend keeping one expensive bag, and selling the rest, including the coaches)
 
#15
Ohh, I didn't think of that Lyn2005, now I'm sorta torn. The thing is that I can still return my most expensive bag and get a full refund, whereas if I sell the Coaches I don't think I'll get even 50% of what I paid. I know the expensive bag is a better investment, though, but I don't think it's classic enough to go with everything. If I had a Muse or something, I would definitely do that though. You make a good point, I could just liquidate and start over, I'll think about it with the ebay listings so low...
 
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