A life of luxury is something that every BAUCE woman is deserving of. However, a life of fancier things can sometimes be quite costly.
Fortunately, there is a way to live a life of affordable luxury without overspending. If you want to improve your life and open yourself up to new things and experiences, here is how to live a life of glamour while spending within your means.
What is Affordable Luxury?
When we think of the word luxury, several things come to mind. We may think of fancy cars and name-brand apparel.
The Oxford dictionary defines luxury as “a state of great comfort or elegance, especially when involving great expense.” Attaching the word ‘affordable’ in front of luxury can mean creating this sense of comfort, elegance, and ease but at a price that won’t send us into debt.
Affordable luxury can mean different things to different people. For some, it could be taking an extended vacation. Others may prefer getting a manicure and pedicure once a week.
All in all, it’s about putting your money towards something that enhances your life. A luxurious life is about long-term satisfaction and experiencing some of the more elegant parts of life.
If you’re ready to learn a better way of living, pay close attention to the following steps.
Step 1: Be realistic about your finances
As we all know, any type of luxury, either affordable or high-end, will cost money. To be able to afford any kind of luxury, you need to make sure you understand your money. Ideally, you should know every month how much you’re making and how much you’re spending.
When you understand how money flows into your life, you can dedicate money to more expensive things. If you’re living paycheck to paycheck, it’s best to re-evaluate your spending.
For instance, if you’re spending $10 on jeans that will eventually rip and force you to buy new ones, it’s probably a better investment to pay a little bit more upfront than to keep spending money on something unreliable.
A strategy suggested by Kevin Ha, a blogger at FinancialPanther.com, on being able to buy anything is to save up for the thing you want. When you consistently put money aside, eventually, that money will add up, and you’ll be able to make the $600 purchase or whatever it might be.
You can also adjust your finances by reconsidering where and how you live. If your cost of living is eating away at your paycheck, it may be time to relocate to a more affordable place.
Step 2: Acquire a luxury is a state of mind
Two things typically separate luxury brands from generic brands: price and quality. The integrity and quality of an item or service make that thing luxurious. The price is simply an investment, a security that you will get the benefits of that product or service.
Thus when you think about a luxury mindset, think about quality, which means producing quality work, having quality friendships and relationships, and spending quality time doing things you enjoy.
Having a luxurious mindset also means looking at the world through a lens of abundance.
You are viewing the world as a place of opportunity and taking advantage of those opportunities.
As Urania states in her Youtube Channel, My Femme Daily. “If you’re always giving yourself the cheapest option, then you’re telling yourself the cheapest option is what you deserve.”
Step 3: Define what luxury means to you
Affordable luxury looks different for every person. For some people, it might mean collecting designer purses. For others, it might mean traveling first class.
What’s important is that you decide what affordable luxury means to you. For instance, you can focus on quality skin care and hair care and put more money into getting facial treatments, seeing an esthetician, or frequent visits to the salon.
If you desire to travel more, affordable luxury can be using credit card points and airline mileage to upgrade to business class or stay at a high-quality hotel.
Affordable luxury can even be having an air fryer and a panini press.
It’s important to remember why you want to live a life of luxury. Certain luxury items or services can make life easier, relieve stress and help you focus on what matters in life.
Be careful not to create your life of luxury solely to impress others. If you do, you’ll eventually feel empty and unfilled.
Step 4: Utilize savings and discounts
Living a life of luxury doesn’t mean being cheap, but it also doesn’t mean you can’t find ways to save money. After all, the more money you save, the more money you can put toward acquiring fancier things or experiences.
Here are a few ways to utilize savings and discounts:
Buy second-hand: Thrift shopping or second-hand clothes can save money and help you create a unique look. Yet clothes aren’t the only second-hand purchases that you can make. According to an article in Reader’s Digest, electronic gadgets, sports equipment, and furniture are among the many items you can purchase used and in good condition.
Join loyalty programs: These programs reward frequent shoppers for their business. You can find popular loyalty programs with Target, Bath and Body Works, Sears, and many more.
Saving money on grocery shopping: There are many ways to reduce your weekly grocery bill. You can try buying generic brand items, purchasing items on sale, and joining your store’s loyalty program.
Buy high-quality items on sale: Want to know how to get a name-brand item for a fraction of the original price? The three key ways are: shopping at outlets, a brand’s annual sale, and popular resale websites such as eBay.
Step 5: Focus on experiences
A lifestyle of luxury is also about experiences. You can enrich your life by attending museums or the opera, traveling to exotic places, or even having a spa experience.
When you focus on experiences that are rejuvenating, uplifting and educational, you start to feel more fulfilled. Experiences help you get the most out of life and have a deeper connection to your environment.
Nothing says luxury quite like having worldly experiences.
Hailey Gamba shared on her YouTube video her affordable luxury experiences while traveling. She shares,” I was able to find many all-inclusive places that will give me the luxurious vibes that I wanted…and I’m saving money.”
Step 6: Increase your income
If you want luxury to be a way of life, you’ll need to make more money. Fortunately, there are many ways to do so. You can start by asking for a raise in your current position. Or change jobs for a higher-paying position.
Additionally, you can sell items you are no longer using or start a side hustle. Whatever you decide, make sure you have a plan for your new income.
Blowing money on the latest iPhone or a fancy pair of boots can be easy. But remember, you want to curate a lifestyle, so invest in things that will help you live your desired life.
Step 7: Continuously expose yourself to luxury/knowledge
It can be easy to intimate a luxurious lifestyle. A one-time purchase of a Prada bag can give you temporary satisfaction, but if you want to create a true luxury lifestyle, you’ll need to learn from others.
Attend networking events of people you admire. In addition, you can seek a mentor or a coach that can provide you with the tools and guidance you need to have an affordable life of luxury.
Live your life of luxury on a budget
A life of luxury brings nice things but can also get you peace of mind. By creating your idea of luxury, adding a mixture of luxury items and experiences to your life, and managing your money well, you can have the life of your dreams.
Remember that luxury is a state of mind. Design your life based on how you want to feel and who you want to be.
