Travel Beauty Blog: How to Buy your First Designer Bag without Breaking the Bank

I decided to write this post to help the average woman purchase her first designer handbag without breaking the bank. You don't necessarily have to be rich to own a luxury item. All it takes is a little bit of strategy and patience. And by this I mean, strategy in how you are going to come up with the money and patience while saving and budgeting for it. Lets face it, we all have that 1 item we wish we could have but in the natural realm it seems impossible to own it. It may be a high end vehicle, owning an estate or business, purchasing a designer item, a vacation trip and the list goes on.

You may desire to have more than one of these things mentioned above or something similar so first things first you need to make a list then put them in order of priority. For this particular post I will make reference to a high-end designer bag but you can apply these simply steps to something else on that list.

This Speedy 30 Louis Vuitton Bag costs US$970 (less than $1,000) in the US. If you wanted to own this bag, instead of using your credit or debit card or cash up front, give yourself at least 12 months to save up before purchasing. In this way, you do not end up in debt or with a maxed out credit limit.

Usually when I paid at the end of the month I go to one of the malls and I often find myself buying random things mainly clothing items, that I don't necessarily need. I call it "a treat to myself". Its a little extra money that I usually have in hand after my monthly budget. I dont necessarily factor it in because this money is spent sometimes even before I get around to doing the budget. So I may go to a Store, lets say Zara, shop around and leave with maybe 1-3 items and it makes me feel better. As we say there's nothing wrong with a little "retail therapy". A lot of the times I end up spending between $60-$100 and admittedly I leave the mall feeling better about myself.

After the first six months you would have saved $510 with a goal of $460 remaining. If after your budget you realize you still have a little extra in hand, feel free to increase the amount to lets say $100. This means you would attain your goal in a shorter period of time. As each month goes by and the realization of that goal becomes clearer, that is what motivates you to keep going.

So imagine you have eyes set on this Kate Spade bag, which costs US$348, put aside $40 every month for 10 months. A good idea is to subscribe to receive their newsletters so that you never miss a sale. Chances are you can wait and get it for maybe 30% off the original price.

Don't let the urge of wanting the item immediately discourage you from getting it the longer term. This way you can still live comfortably without having a maxed out credit card or scraping to get by during the month.

Remember keep your eyes on your prize. Divide the cost of the item into months then see if it is feasible in your budget. If the amount is too steep, increase the amount of months so that it will correspond with how much you are willing to save each month.

Last but not least, if you didn't get the chance to capitalize on any sale during those months, you can hold on to your money and make your purchase on Black Friday. You may wish to note that most luxury Brands do not offer sales. The prices listed on their website and in stores are what you will most likely pay throughout the year. It doesn't matter which country you are in. However, stores that do have sales from time to time such as Kate Spade & Michael Kors, Black Friday would be a good time to make that purchase since they are most likely marked down for at least 40-50% off the original price.

Comment below and let me know what other strategies you have used. Have you tried this same one? Did it work for you? Please let me know.