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

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#1,876
alichelsealyn said:
Does anybody charge on credit then pay it from their debit account right away? I'm 19 next month and am going to be applying for a credit card soon once I'm working full time. I'd really like to build up good credit especially while I'm young so I was thinking whenever I make purchases I put it on my credit then use my bank app to pay it off right away (that way I am more disciplined and am having the money taken out of my debit right away.. I don't like the idea of not paying it off for a month then being shocked at the end of the month when I see the money leaving my debit card all at once if that makes sense)
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sounds like a good idea. And keep an eye on your bank balance. If you have enough in your account to pay without incurring nsf fees, then go for it. Since you are just starting out, you would need to pay your card off multiple times due to a low limit anyways. Budget for what you want and save for it. Once you have the cash saved up for what you want, take that amount, deposit into your chequing, bill pay that amount you have earmarked for your lux item into your card and buy your lux item with your credit card. Some credit cards allow you to artificially increase your available credit limit by posting a negative balance. :)

Or you could take the cash you would have used to pay for your lux bag, and pay the card off instantly once you pay for your lux item with your cc.
 
#1,879
I have worked either part-time or fulltime ever since I was fifteen (I'm 20 now). Being a real penny-pincher saves up money quite easily, and if I decide to splurge on myself I'll buy something that'll last for a lifetime.
I have paid my designer bags (and shoes, cars etc.) myself and I prefer to keep it that way :) None of my few bags have been brand new (though they look like they've never been used :D). I could afford buying them new, but I don't see the point in doing that with my current income, since the bags that suit to my taste have always had four figures in the price tag. The VAT is 24% in Finland, by the way :faint: The good thing about living in a small country is that the market for luxury items is quite small, whether it is preloved or new. That keeps the prices in check!


As for the method of payment, ordering within the country I'll always pay with bank transfer after receiving the item, or with collect on delivery. If I order from abroad, I'll pay with the safest option possible, which is either Paypal or Mastercard.
 
#1,880
I don't buy luxury, I am a Coach, Dooney, Frye, Roots, etc. fan. This year I only bought a couple bags. I had been saving to buy a new Jeep Grand Cherokee to replace my Jeep GC that I drove for 19 yrs (great vehicles). I refuse to finance anything, car, bag, whatever, I hate interest. It's like flushing money down the toilet. I'm single, work in healthcare, OT when I can. I like to hoard my money and invest in Ginny Mae mutual funds, LOL. Might as well have it work for ya.

I use CCs but pay off every month, only use it for the points really.
 
#1,882
Hello to everyone I am brand spanking new to this website. Please be nice... As you all know I can not post my own thread until 5 days have past and I have posted 5 replies. I was wondering the same thing (the title of this thread). I love handbags. I have done a little reading on here about how some people pay for them. I do not own a designer bag yet. I love them though. I want one so bad.
One does not have to be rich to love, or want nice things. I am a single mother. I am a RN but my children are grown now. My youngest is still home but she is 17 and she has a job. I would like to think after raising them by myself I deserve a splurge. I have always put them first. I put myself through school. I worked hard to take care of them. I am not rich by far. I may have to save for a nice bag. I feel so guilty. Should I?
I don't drive a really nice car. I honestly don't care about stuff like that. I like nice clothes but I have to get back in the gym first (lol) but I don't spend a whole lot on clothes. My vices are my hair, would be handbags and OMG shoes. I mean come on can't I? I am not trying to copy the rich, or live outside of my means. I just loooooovvvvveee LV bags, and Chanel bags. I want one of each. I would love more. I could give you a list of bags I would love to have, but if I could just get one LV and one Chanel I would be so happy. I know this is the purse forum, but add some Louboutin's, Giuseppe's, and Jimmy Choo's to that I would be satisfied.
I reiterate I am not rich and I do not come from a rich family so when I speak of these things my family looks at me like I am a lunatic. They tell me I am crazy and stupid for even considering spending thousands of dollars on a purse or on shoes. My children tell me I am nuts tell me and proceed to tell me all of the things I can do for them with that money. They are okay. They all work. One is 22, one is almost 20 in college, and I already mentioned my daughter.
I am not on any government assistance trying to carry a designer bag. I am working and getting ready to go to grad school. Why can't I have this. I found this forum and I feel like a lot of the women here may have more money than I do, but you all understand the love and the desire for one of these purses.
I am interested in how do some of you pay for your bags, those of you who are not wealthy. Do you just splurge with a lump sum? Do you pick a bag, get the price and just start putting money a way? I feel like I am ready to do it. I deserve this right? It is my money and I am not going to feel guilty about. I am buying at the very least, each of these bags. I just need to get started. Sorry for the long post.
 
#1,883
You absolutely deserve it. Sounds like you have done a lot for your kids, putting them first. You sound like you have made good plans for your future, work hard and are sensible about what is realistic.

IMHO the best thing is to pick an item fitting your needs meaning is this a daily bag, evening bag, etc. Narrow down to brands you love and see which brand has the best style for you and you are comfortable with the price. I would suggest starting with a bag for example a WOC from Chanel if that fits your needs or if a more expensive item look into pre-loved.

Save the money even if it takes a while. I didn't buy my first bag until I was 50. I started with Burberry as I could afford it. It cost $240 for a very small bag and at the time i thought that was a lot. I tend to buy more pre-loved bags then new as they are more affordable and gives me the option to buy more than 1. If a bag doesn't work I sell it.

There are folks on TPF that come from many different backgrounds and finances. Do what is comfortable for you but pay cash is my suggestion. If I discussed bags with my family, except for MIL they would think I am nuts so I don't, but I also don't tell them that they are nuts for some of the things they buy. Remember it is something for you to enjoy at a price range that makes you feel ok with your purchase not feel buyers remorse. Let us know what you decide :)
 
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#1,886
I save up for mine on a monthly basis after paying rent, bills, etc and stashing the leftover in a dedicated fund. I can do one to two premier designer bags a year like this paying in full. BUT, I always use my credit card because I get cash back on my purchase from my credit card and I pay the full balance, so free money. and I always see if ******.com has the retailer because they pay cash back too on stores like Nordstrom! once I got a bag tax free and on sale because of all the cash back. I never shop without checking ****** first :)
 
#1,888
Gretchen76 said:
Hello to everyone I am brand spanking new to this website. Please be nice... As you all know I can not post my own thread until 5 days have past and I have posted 5 replies. I was wondering the same thing (the title of this thread). I love handbags. I have done a little reading on here about how some people pay for them. I do not own a designer bag yet. I love them though. I want one so bad.

One does not have to be rich to love, or want nice things. I am a single mother. I am a RN but my children are grown now. My youngest is still home but she is 17 and she has a job. I would like to think after raising them by myself I deserve a splurge. I have always put them first. I put myself through school. I worked hard to take care of them. I am not rich by far. I may have to save for a nice bag. I feel so guilty. Should I?

I don't drive a really nice car. I honestly don't care about stuff like that. I like nice clothes but I have to get back in the gym first (lol) but I don't spend a whole lot on clothes. My vices are my hair, would be handbags and OMG shoes. I mean come on can't I? I am not trying to copy the rich, or live outside of my means. I just loooooovvvvveee LV bags, and Chanel bags. I want one of each. I would love more. I could give you a list of bags I would love to have, but if I could just get one LV and one Chanel I would be so happy. I know this is the purse forum, but add some Louboutin's, Giuseppe's, and Jimmy Choo's to that I would be satisfied.

I reiterate I am not rich and I do not come from a rich family so when I speak of these things my family looks at me like I am a lunatic. They tell me I am crazy and stupid for even considering spending thousands of dollars on a purse or on shoes. My children tell me I am nuts tell me and proceed to tell me all of the things I can do for them with that money. They are okay. They all work. One is 22, one is almost 20 in college, and I already mentioned my daughter.

I am not on any government assistance trying to carry a designer bag. I am working and getting ready to go to grad school. Why can't I have this. I found this forum and I feel like a lot of the women here may have more money than I do, but you all understand the love and the desire for one of these purses.

I am interested in how do some of you pay for your bags, those of you who are not wealthy. Do you just splurge with a lump sum? Do you pick a bag, get the price and just start putting money a way? I feel like I am ready to do it. I deserve this right? It is my money and I am not going to feel guilty about. I am buying at the very least, each of these bags. I just need to get started. Sorry for the long post.
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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.
 
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#1,890
apey_grapey said:
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.
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Great advice, particularly 2 and 5, judging by the less positive threads and quotes on tPF.

Just adding:

No.7 IMO, keep what you spend your money on to yourself, it's actually no one else's business. Most people have something they spurge on such as holidays, toys for the kids or hobbies and that's their choice but no, they'll never see the point of an expansive bag so there's no point in debating.

No.8 Keep reminding yourself you just wanted 2 bags. If and when you get them just enjoy them to the max and don't get sucked into that whole 'starter bags', 'building my collection' thing.
 
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