Would you go into debt if it meant that you could buy a Chanel bag?

[lani15]

I was perusing the Chanel subreddit and I noticed something interesting; that a lot of users admitted they would take loans out and go into debt to acquire a Chanel bag.

Would you go into debt for a few years if it meant you could acquire a Chanel bag or item?

 

[Love Of My Life]

NO would not go into debt for a Chanel bag or any other bag or an item

 

[Joeli7]

Absolutely not.

 

[jellyv]

a lot of users admitted they would take loans out and go into debt to acquire a Chanel bag.

Would you go into debt for a few years if it meant you could acquire a Chanel bag or item?

It's so silly. The height of faking it. It's one thing to "go into debt" (take a loan out) for something essential like housing or education or a car, but not for a so-called luxury item when disposable income is not there. Don't talk to me about different priorities: there's no way a Chanel bag is a reality-based priority when you don't have, say, rent money or emergency funds set aside.

 

[**Chanel**]

No. They are just luxury items at the end. No first needs and no essentials.
I can understand if someone pays with CC for a bag and pays rent free within let's say 30-60 days (because paying with cc will often give you extra benefits).
But I would never go into dept for a few years just to buy a Chanel bag. It's not worth it.

 

[Gin&H]

Chanel is definitely not worth taking out a loan, or putting it on a credit card that you can’t pay at the end of the month. No luxury good is worth that financial stress.

I think having a chanel would be way more meaningful and satisfying if an individual focused on a career/life and only buy once they were financially able to do so.

 

[Swanky]

Absolutely not. I wouldn't go into debt for any frivolous purchase.

 

[fashion16]

100% no. Financially irresponsible no matter how you slice it.

 

[stacy_natalie]

Also a hard no for me. Agree with all other replies.

 

[Allisonfaye]

I don't see as much of this as I used to in the early days of tPF. I remember one young lady who was being supported by her mom doing this for a Chanel. And one of my favorites was the LV collector who worked at McDonald's.

 

[pollyanna84]

I don't see as much of this as I used to in the early days of tPF. I remember one young lady who was being supported by her mom doing this for a Chanel. And one of my favorites was the LV collector who worked at McDonald's.

Lots of people work minimum wage jobs and buy luxury goods. Why shouldn’t they? It doesn’t mean they’re spending money they don’t have.

 

[A1aGypsy]

This makes me crazy. Some people are one illness away from total financial ruin. Or they will have to work until they are eighty because they have no savings.

No purse is worth that.

 

[CoastalCouture]

Nope. Not worth it. It's just a bag. Other things like rent/housing, heat or A/C, food, transportation, they all take priority - children too if you have them.

 

[Minimalist_Chic]

I don't see as much of this as I used to in the early days of tPF. I remember one young lady who was being supported by her mom doing this for a Chanel. And one of my favorites was the LV collector who worked at McDonald's.

You can still be clever with your money even if you work at McDonalds and still buy LV. We don’t know what her position at McDonalds is or what her financial situation is like. You can’t just assume if someone works somewhere, they shouldn't have something luxury or not be collecting something.

Back to original topic I wouldn’t go into debt for a handbag or anything frivolous. But I did think about it when I was broke, I also know people that have used their student loans here in England for luxury items. I did wish I did the same for the Chanel handbag. If I was clever enough back then it would have worked out cheaper overall and made my money work for me. For those unaware, the student loans here don’t count towards anything.

 

[jellyv]

Lots of people work minimum wage jobs and buy luxury goods. It doesn’t mean they’re spending money they don’t have.

Nobody's fussing about who can and should buy luxury goods. The original question was literally about spending money these consumers don't have. They take out loans and go into debt for a Chanel bag.