Saturday, May 12, 2018

Luxury is Nice, But Can You Really Afford It?

Most people who buy luxury goods can't really afford it. Well, they can literally afford it. But they end up paying big time for it in time down the line.  A luxury purse for example might only cost you a month of time to pay off today, however, accounting for investing to your retirement, that could end up costing 10x the amount, or 10 months to a year of time.

Many luxury goods are bought in order to show off. To let others know how successful you are (or at least how successful you want to be seen). If you can't afford it however, all you have is the pretense,  but nothing to back it up.

Luxury goods may be of higher quality, but not always. Some of them might appear nicer but have poor design. If the item is more than just to show off, pay attention to the quality and build. Sometimes the less expensive ones are better in that regard!

 If you buy luxury goods, you don't let your other traits shine through. You are basically waving around the item and asking people to judge you based on it. When that happens the focus is taken off of other positive things about you. If you can't afford to gain the (fake?) respect of others through luxury goods, maybe you can do it through other means; your accomplishments or personality.

Really think about the type of people you are attracting with luxury goods. Often times people buy a luxury good because it will help them attract attention from the opposite sex. However, not all attention is equal, are you sure it is for the reasons you want? If not, you can use this concept to filter out people. If you dress-down you can filter out people who will like you only for that particular appearance. Its okay to let people self select you out of their attention.

Obviously if you are super rich, you can go right ahead and buy. But otherwise, consider what you are really buying and if you can (and should) afford it.