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At this point in my life since i'm really young and still a student, i couldn't spend over $500 on a bag for 4 reasons
1) I only work part time for min wage and can't afford anything more
2) My tastes may change as i get older and i don't want to spend alot on something that i may not like later on
3) I live with my parents and they would KILL me if they ever found out i spent that much on a bag
4) I would feel extremely guilty(I still feel guilty about my latest marc jacobs purchase)
However, when i get older and start a real career i'll probably be willing to spend $1500-2000 max
Wow - minimum wage must have really gone up! When I made minimum wage I worked two jobs (one full time and one part time) to pay for rent and Kraft dinner six days a week (Sundays I had a chicken breast). I had some nice co-workers that gave me their old clothes and my only bag was a cloth one I stitched up myself.
I would probably spend $4,000 max for a bag and not purchase any other handbag for the rest of the year. On the average, I spend $6k-8k on handbags and wallets per year, that's about 3-4 handbags and wallets.