It doesn't matter "where one works or what their job might be" what matters is that someone
doesn't go into debt for a designer bag or items, JMO
doesn't go into debt for a designer bag or items, JMO
Would you go into debt if it meant that you could buy a Chanel bag?
- Thread starter lani15
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Yes you are right. I have not gone into debt for any of my Chanel pieces and couldn’t imagine recommending others to do so. It’s a terrible decision.
Never ever would I go in dept for ANY luxury item.
Think what is also tempting is when stores offer promos where someone can get into trouble
thinking they can buy an expensive bag/item & put it on a payment plan for a period of time
not thinking about other obligations that they have to meet & just get caught up in the
world of SM, forums,influencers, etc doesn't help either
thinking they can buy an expensive bag/item & put it on a payment plan for a period of time
not thinking about other obligations that they have to meet & just get caught up in the
world of SM, forums,influencers, etc doesn't help either
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When my DD was 16, she saved up most of her paychecks all summer to buy Golden Goose sneakers. I didn’t have a pair, I have no idea where she saw them. She proudly wore them to school and no one had a clue what they were. By her freshman year in college she was over them and they all wanted them lol
Point is, no one needed a loan. That is crazy to me.
Saving for something is different than going in debt.
Point is, no one needed a loan. That is crazy to me.
Saving for something is different than going in debt.
This post is crazy. If you can’t afford the item in cash, don’t buy it. This is a frivolous purchase. Definitely don’t go into debt for a handbag 😹
Going into debt in the form of a loan or a credit card can put you in financial danger. Once you allow yourself to do it, there is no telling whether you will not be tempted to do it again for another luxury item or experience. Getting used to a lifestyle beyond your means is a slippery slope.
This thread is dividing two very different mindsets. Those of us who would never go into debt for a bag (or any other non essential item) can’t understand why others would.
On the other side, MANY, MANY others reading this will be silent because they have / would / are going into debt for handbags but would feel shame in admitting it here. Though they value the item more than being debt free.
We all know that the majority of people carry credit card debt, have second mortgages or take our personal loans to fund non essentials like bags, vacations, clothes, and luxury cars. This isn’t new or rare or unheard of. And many who share bag after bag here are riddled with debt. It just is what it is.
So, I don’t “get” the point of this discussion. People who are fiscally responsible won’t get a loan for a bag. People are fiscally irresponsible will. At the end of the day, adults get to make their own choices.
On the other side, MANY, MANY others reading this will be silent because they have / would / are going into debt for handbags but would feel shame in admitting it here. Though they value the item more than being debt free.
We all know that the majority of people carry credit card debt, have second mortgages or take our personal loans to fund non essentials like bags, vacations, clothes, and luxury cars. This isn’t new or rare or unheard of. And many who share bag after bag here are riddled with debt. It just is what it is.
So, I don’t “get” the point of this discussion. People who are fiscally responsible won’t get a loan for a bag. People are fiscally irresponsible will. At the end of the day, adults get to make their own choices.
We can agree to disagree here, but will say that there are many who "get" why
someone would go into debt for a Chanel bag or any large ticket item. It's a choice
which may or may not have to do with being fiscally responsible.
"Want" speaks for itself in many ways, above need
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Agree but I also wouldn't say someone is necessisarily "fiscally irresponsible " if they want to utilize a credit card to purchase a bag (or any other high ticket item like art, jewelry, vacation like you said, etc) and can afford their monthly payment in addition to other monthly bills and necessities. I use a card for convenience and pay balance off in full every month but I'm sure many people don't but perhaps this is a way for them to have an item they long for or will make them feel special or whatever it is while feeling they could "afford" it as more of a "payment plan". Most people other than those who are extremely wealthy don't pay cash for their homes or vehicles, and make monthly payments. Granted, shelter and transportation are necessities while a Chanel handbag certainly isn't but is it really that much different than someone buying a fancier home or car than they need and making higher payments.
I’ve mentioned this somewhere else but I really get the impression that getting a loan here is really frowned upon (including for non frivolous items).
Many people with very large sums of cash sitting take out personal loans for various reasons.
I personally haven’t and wouldn’t get a loan for frivolous items but I am not against getting a loan for other large non essential items such as house renovations, or deposit for second mortgage or even a wedding. Sometimes the loan works out better than parting with all that cash upfront and also you’re generally better protected if something goes wrong.
Agree, I think we should use credit cards to make big purchases but also make them work for you, take up the 0% interest free, balance transfer and other perks that you get, as long as you know can afford the items and pay off the balance monthly or when the 0% interest ends.
The original OP stated she read others that have gone into debt for their Chanel purchase. There may be certain loan conditions where it makes financial sense e.g. interest free period and the purchaser definitely knows that they will be able to afford to pay it off completely. I don’t think it matters how the handbag is purchased whether through loans or cc or installments, personal preference really as long as you can afford the payment method.