How do you afford your bags and how many per year? Credit debt or millionare lover?
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Even though DH makes good money, I do too. I like it that way. I don't like being dependent on anyone. I like the feeling that I can afford to buy myself what I want, when I want. I don't have to wait for DH to buy me a bag, or anything for that matter. He buys me gifts too and I appreciate those, but those are more like icing on the cake. He respects me for my independence too.
2 bags a year plus 1-2 SLGs. Don't have husbands/lovers or credit card debt 
I work, pick up extra shifts, plan and pay with cash. I'd rather have one or two really nice bags than a bunch of other stuff. If I get tired of a bag or dont think I will use it much anymore I sell it to fund something else.
I work, pick up extra shifts, plan and pay with cash. I'd rather have one or two really nice bags than a bunch of other stuff. If I get tired of a bag or dont think I will use it much anymore I sell it to fund something else.
I have a certain amount of 'mad money cash' that I set aside each month; the amount varies depending on life circumstances.
If I want funds beyond that, I sell a bag from my existing collection.
Both of the above have really worked for me for years now. When I treat myself it feels good because I have saved for it, and also in the times when I sold a bag, it helps keep my beloved collection trimmed down to a manageable number so I may carry them all often. (because I miss them when I don't get to 'see' them out with me, lol.....silly, but I do.)
If I want funds beyond that, I sell a bag from my existing collection.
Both of the above have really worked for me for years now. When I treat myself it feels good because I have saved for it, and also in the times when I sold a bag, it helps keep my beloved collection trimmed down to a manageable number so I may carry them all often. (because I miss them when I don't get to 'see' them out with me, lol.....silly, but I do.)
I have bought most of my bags myself - with the exception of one that my boyfriend got me, one that my parents got me for Christmas a few years ago (my first Gucci! 
) and one that I used some birthday money towards (and payed the difference with my own money).
I have a good job (as does my other half) and i'm only 21 with no kids, so have quite a bit of expendable income every month. I always make sure that the important things are taken care of each month - e.g. pay mortgage, bills, etc - and don't own a credit card. If I decide I would like a new bag (or any other designer item) that I cannot afford right away, I put away £X every month until I have the total
) and one that I used some birthday money towards (and payed the difference with my own money).I have a good job (as does my other half) and i'm only 21 with no kids, so have quite a bit of expendable income every month. I always make sure that the important things are taken care of each month - e.g. pay mortgage, bills, etc - and don't own a credit card. If I decide I would like a new bag (or any other designer item) that I cannot afford right away, I put away £X every month until I have the total
I purchased all bags myself 1st hand. But the thing is I'm not attached to them (or most of them). So I usually wear it for a season or 2 and I sell them. I usually can get at least 50% and sometimes as high as 85% of what I paid back depending on the style and condition.
So if I want to buy a bag for $4k for example and I'm confident I can sell it for $3k after a year, my decision is if I should spend $1k for the bag.
So if I want to buy a bag for $4k for example and I'm confident I can sell it for $3k after a year, my decision is if I should spend $1k for the bag.
[MENTION=505112]orid[/MENTION], I think you should consider buying preowned exclusively unless you find good sales, value the boutique/department store experience as highly as the bags themselves, or have to have the latest season, because you could probably sell a used item very close to what you yourself are willing to pay for it used. Heck, you could possibly sell it for more than you paid, and someone will pay you for having "rented" it!
That said, I'm a uni student and can't afford premier bags, so I stick to Coach or "American Premier" like J.W. Hulme, Mulholland, Duluth Pack, etc. Once a bag passes the 1k mark, it's pretty much game over for me.
For LV SLG purchases I use Paypal Credit because there's no interest for up to 6 months, and my limit is 1k, so no matter how much I buy I can easily pay it off in that time frame. If a premier SLG has a crazy markdown (say, NM semi-annual), I'm willing to slap my Visa down and pay minimal interest. But NO WAY would I ever use a student loan. That debt is unforgivable; you CANNOT declare bankruptcy on it, and it can ruin your life and career.
Even when talking about "bad debt," there's such a thing as "smart debt."
That said, I'm a uni student and can't afford premier bags, so I stick to Coach or "American Premier" like J.W. Hulme, Mulholland, Duluth Pack, etc. Once a bag passes the 1k mark, it's pretty much game over for me.
For LV SLG purchases I use Paypal Credit because there's no interest for up to 6 months, and my limit is 1k, so no matter how much I buy I can easily pay it off in that time frame. If a premier SLG has a crazy markdown (say, NM semi-annual), I'm willing to slap my Visa down and pay minimal interest. But NO WAY would I ever use a student loan. That debt is unforgivable; you CANNOT declare bankruptcy on it, and it can ruin your life and career.
Even when talking about "bad debt," there's such a thing as "smart debt."
I'm a finance professional and I would highly advise AGAINST utilizing a credit to pay for a handbag or other luxury items. The only exception is if you have cash on hand and want to use a credit to build credit history. In that case, use a credit but pay it off before incurring interest charges (within payment due dates). If you're able to open up interest free for x amount of time credit cards then you can do that as well. Just pay your items off before you get hit with interest.
That being said - I afford my handbags and luxury items by paying in cash or in credit and paying the full amount off before getting charged with interest. I save more than I spend in general and just wait for the right item(s).
I purchase about 2-3 Chanel handbags, 1-2 Louis Vuitton handbags, and 3-4 LV SLGs on average in a year. I won't be spending much now because I am buying a house.
That being said - I afford my handbags and luxury items by paying in cash or in credit and paying the full amount off before getting charged with interest. I save more than I spend in general and just wait for the right item(s).
I purchase about 2-3 Chanel handbags, 1-2 Louis Vuitton handbags, and 3-4 LV SLGs on average in a year. I won't be spending much now because I am buying a house.
I use credit cards for everything and I PIF (pay in full) when I receive the statements.
I don't use debit cards because I do not want anyone knowing my debit card/checking account information besides the banks and utilities I pay.
How do I know how much I have to spend? I know much I have leftover after my bills and savings are funded every month, so I know how much I can use and pay off at statement time. I'm still feeling rather lightheaded about a $280 contemporary bag purchase I made 2 years ago, so I pretty much *stalk* items I like for a good 6 mos - 1 year before I pounce. It's kept my wallet happy, I'll say that much.
I don't use debit cards because I do not want anyone knowing my debit card/checking account information besides the banks and utilities I pay.
How do I know how much I have to spend? I know much I have leftover after my bills and savings are funded every month, so I know how much I can use and pay off at statement time. I'm still feeling rather lightheaded about a $280 contemporary bag purchase I made 2 years ago, so I pretty much *stalk* items I like for a good 6 mos - 1 year before I pounce. It's kept my wallet happy, I'll say that much.
LOL this thread is cute. I either pay with cash/debit, or do layaway and pay with cash/debit. Credit cards are for big purchases (not bags or luxury items) and I pay them down ASAP.
Millionaire lovers are always a fabulous option
Millionaire lovers are always a fabulous option
actually if you have the cash on hand paying with your credit card is a better idea. coach is already earning lots from you. no need to line their pockets with more. coach used to have lifetime warranty for their items. no more. just one year. a decent credit card will extend the manufacturer warranty for an extra year. besides which, it is valuable cash back. that pretty wallet i bought just cost 2 dollars less thanks to my trusty card. paying for lux bags with cards only if you have discipline is probably a better idea lol
that pretty wallet i bought just cost 2 dollars less thanks to my trusty card. paying for lux bags with cards only if you have discipline is probably a better idea lol