How To Save For Luxury Items

How To Save For Luxury Items

The title of this post ~ How to save for luxury items ~ may be a thought that instantly strikes a chord in your mind. And rightly so. Try to recall the number of times you’ve convinced yourself that you’re just out to window shop {or just browsing online for fun} ~ but end up making several unplanned purchases. Blame it on the amazing window display {beautiful photos of merchandise} if you so want, but shopping is just so addicting!




In fact, you start wondering how you did without that bag, jacket, or pair of shoes for this long. It’s the perfect design and size ~ just the ones that you’ve been looking for; and in your mind’s eye, you can see how the colour of the jacket and the shoes will go well with that gorgeous dress that was the result of previous temptations. Oh, and that delicate diamante necklace will just fit in perfectly. You’re so enthusiastic about these items that by now you’re convinced that you simply have to own them!

Once this moment passes, that prickly feeling creeps up and a voice starts to emerge from somewhere ~ “those items cost the earth, it’s a luxury that you can ill afford”~ but you stifle them and brush those thoughts aside. After all, it’s your money that you’re spending so why not indulge in that ‘luxurious feel’ and splurge once in a while?




I haven’t made a lot of extravagant {read luxury} purchases this far, but I am resolute that every so often I’d like to treat myself to something beautiful. For me, these buys will likely fall under fashion and travel, but for you it could mean an expensive home decor piece or high end electronic gear that tickles your tastes. The term “luxury” is purely relative, depending on your lifestyle.

Believe it or not ~ whether it’s buying expensive clothes or taking that European tour ~ all of it is really doable and I think that some of the tips I’ve been using on how to save for luxury purchases may be helpful for you too. There’s nothing like already having a little ‘nest egg’ to start things moving, but of course that’s not going to last forever; so making that ‘nest egg’ grow is the secret!


370f (cropped)


Get Really Clear About What You Want

You don’t buy big all through the year, so when you do, you need to make sure that it’s really what you want. The skater dress that looked so good on display may feel different when you try it on. The shoes that you thought were absolutely perfect may just be showy pieces that look good but are extremely uncomfortable when you have your feet in them. The bag that looked so exciting isn’t the right size, doesn’t clasp well, or looks like it’s going to stain easily. Thinking that something is good and actually being able to say that it is so are two very different things.

If I’m going to save for luxury items, they have to check all of the boxes; form and function. Otherwise it’s not worth the price tag for me. It’s as simple as that.




With travel, it’s a little different ~ but the bottom line remains the same ~ do your research well. Be clear about the places you want to visit, the sights you want to see, and most importantly gauge whether your pocket is going to stretch as far as you want it to. Keeping an eye on currency conversions is also necessary. It’s good to have an approximate idea as to whether your money is going to last until the end of your trip without having to miss out on all that you wanted to do.

The golden rule in both cases is repeatedly doing luxury recon to narrow down your wish list of purchases. Recall that famous adage, “All that glitters is not gold” and apply it yourself. What looks good and what appears great on the surface needn’t necessarily be so. Convert your “I need that” and ask yourself if they’re actually the things that you want or the places you want to visit. A little introspection and a lot of research, I have found, goes a long, long way.




Let’s take a practical look then at how to save for luxury items


It’s Important To Set Up A Savings Plan

Though a savings plan is a crux, having two different savings accounts for ‘luxury purchases’ and ‘travel’ will keep you on the right course. It’s so easy to go overboard when you have money in your bank account and feeling guilty later on that you’ve spent it on ‘material goods’ or just ‘temporary experiences’. You feel the same way that you do when you cheat on your diet and enjoy a large piece of chocolate cake. Instinctively, you feel that you ought to deprive yourself of the things you actually want, so dipping into your account isn’t going to make you feel better either.

The key then is do it a little-by-little every month; diverting a portion of your pay check towards each of the two accounts. How much you can save every month towards the two varies with each individual and also there may be some months when things are so tight that you cannot afford to spare even a little. Don’t worry too much ~ so long as you’re fairly regular in your contributions, those accounts are going to swell with every addition. Believe me, your ‘luxury purchases’ and ‘your promised travel’ will become a reality in no time. The best part is your mind accepts the two accounts so completely that you no longer feel guilty when you indulge in your whims and fancies. Making yourself a priority is not wrong at all provided you do it the right way!




Exercise Restraint And Stop Spending Just Because

It’s not unusual to find yourself in the ‘red’ even after saving regularly every month. Though emergency expenses like medical bills or house repairs can set you back; other expenses almost always crop up. You always seem to need money for ‘that something else’ ~ a party that you are going to throw, membership fees for a club that you’re going to join, impromptu breakfast and coffee treats for yourself or others, movie tickets or a night out with friends. Just a few times of this a month, or even as frequently as multiple times a week, and it really adds up.

Perhaps having a third ‘general purpose’ savings account to tackle emergencies and unknown expenses will help you refrain from having to dip into your luxury expenses and travel accounts. Having those different savings accounts will go a long way in helping you realize how to save for luxury items.


End note: Each person’s income, lifestyle and spending priorities are unique. Each game plan is distinctive, as the concept of ‘luxury’ redefines itself for each one of us. However, it’s never too late to learn how to save, how to spend and how to enjoy yourself.

These are just a handful of ways I save money for luxury purchases and I hope you found some, if not all of the key points I shared in this post helpful or relatable. That said…

Luxury is about quality and sometimes the most quality experiences are free!

It is said that gratitude is one of the biggest keys to success. And I’ve discovered that the best way to attract a luxurious life is by learning to think like a luxurious person.

  • Be observant to your surroundings and you will see there is luxury all around you. Appreciate all that you have and see how things change for the better.
  • Watching a really good movie, a morning cup of coffee on my balcony, or hanging out with my husband are simple joys that make me aware of the luxuries in my life.
  • Long conversations with friends, without any haste, that discuss travel, fashion and food & wine {your list may look completely different} can be luxurious.
  • Nature is a natural healer. Walking barefoot in the grass or a hike in the woods can be luxurious. I love fresh flowers ~ they bring colour and harmony to my home.
  • Giving is another form of luxury. It gives me that feeling of alignment with abundance so that there is a steady flow of luxury and positive energy into my life.

Luxury is yours to define. So let us experience the magic, the sheer perfection, the peace, and the serenity of a truly luxurious life!


How do you plan to live a luxurious life? Leave me a comment below.


Location courtesy: Conrad Pune

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* I love bringing together a bunch of conflicting items and weaving my own sense of one-ness to them. *


  • Much obliged to you for sharing this insightful article, Tanya! Ingenuity and reasoning can definitely net you luxury items without guilt and without consuming accessible resources!

    • When you consciously spend, you know precisely how much money you have to spend on anything regardless of whether it is expensive.

  • Tanya, I’ve a hard time justifying burning through cash reserves on new clothes… in any case I do know from experience that garments will last longer and will be substantially more flattering if I purchase from one specific, expensive, name brand store. Thanks for sharing xx

  • Tanya, your content is amazing and I love your blog! You inspire me consistently to continue blogging and doing what I love!!

  • I am all for a savings plan… as you said, when we love pretty things and they’re not in our customary spending budget we need to make sacrifices. Great post!

  • Here’s what I’d like to add to what you’ve shared, Tanya: I have a significantly strict spending plan. On the off chance that I truly want something extra, paying little mind to whether it’s a beautiful dress or some other item that isn’t a necessity, I have to earn more money either through over time at work or my side business. Doing so influences my purchases to feel significantly more worthwhile, not to mention guilt free, on the grounds that I quite literally earned it!!

    • That’s great, Linda! Now, each time you want to spend on an expensive purchase, you know you have the money.

  • Tanya, awesome post! Particularly since each one of us ought to be reminded that our dreams need to be converted into a plan of action!

    • Agreed. Alongside cognizant spending and automated finances, it’s also important to put a framework around expensive purchases.

  • I figure it’s human instinct to think in limits. Thanks for the awesome information, Tanya ~ I am new to your blog and this article has been particularly helpful!

    • As humans, we have the propensity to bite more than we can chew, Alice. Realizing this, I endeavour to ensure that all of my purchases and actions are stepping stones on the way to the goals I have and the directions I set for myself in life.

  • Much appreciated Tanya! These strategies are greatly imperative since I have begun my own venture and am resolved to put something aside for luxury purchases.

    • Here’s a little tip: subsequent to looking at the opportunity cost of the purchase, decide if it’s actual cost is justified.

  • This is an intriguing concept. If you are going to purchase an item, make a point to use it at max potential.

  • I get this post. To me it is the core of the conscious spending plan. It is about what you genuinely value in your life and how to guarantee that what you want is something you need to spend resources on.

    • Spending money on things you love and not squandering it on the things you don’t is the most sensible financial advice ever.

  • My recommendation would be to confer extra time accomplishing something to justify the cost. For me, the time I spent going to the gym legitimizes the cost of a fitness coach.

    • I can relate ~ having addressed the larger challenge of actually going to the gym; you decided to go forward with the trainer.

    • I routinely ask myself, when making purchases or doing an activity, is this worth what I have to give up?

  • Hey Tanya! First off – incredible post! Second – I guess it’s OK to spend on expensive things if it’s done consciously (you know decisively the sum you have to spend on specific purchases) and you’re saving/investing appropriately.

    • Thanks, Britney. Everything has an opportunity cost; when you buy one thing you forgo purchasing another, when you complete one action you’re doing it instead of another.

  • Hi Tanya! This is a great example of using a framework to ensure you have the money needed for an expensive purchase.

    • Thanks, Shaheen. It also helps to look at all the commitments and obligations that we’re currently in, before making purchases.

  • This is a really good article and you explain the concept beautifully, Tanya. Thanx for sharing your views.

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