Financial Samurai - Forums

Financial Freedom => Financial Advice From The Community / Reader Profiles => Topic started by: ladymaam on December 31, 2018, 09:26:35 PM

Title: Should I buy a designer purse?...
Post by: ladymaam on December 31, 2018, 09:26:35 PM
I am in need of a new purse (current purse is being held together by an attractive scarf), and am debating if I should buy a designer purse. Specifically, I think that Coach and Calvin Klein each have a handbag that I find really pretty. The price for one of these targeted purses would probably be approx. $200.

I definitely fall more into the saver (rather than spender) category. Since I tend to be pretty responsible with my money, I've seriously thought about splurging on a designer purse. (My current purse was $35 from Kohl's.) There are a number of arguments that I've made to myself for buying one: the quality will be better, it will signal a new level of professionalism, and it's not like it would cost $1,000. On the other hand, I still feel uneasy about spending $200 on a purse; I can't help but feel that the money could be better spent elsewhere.

What do you all think? Does my reluctance mean that I should hold up on buying the purse, or does this discomfort mean that I need to stretch my spending muscle some more?

Thanks in advance, FS crew!
Title: Re: Should I buy a designer purse?...
Post by: Sam on December 31, 2018, 10:29:27 PM
Hmmm, $200 isn't outrageous compared to Hermes, Gucci, LV and all those designers at $1,000-$10,000 a purse.

The thing with brand name stuff is that the margin is super high. But if the quality is good, and you don't go crazy, then enjoy.

Related: https://www.financialsamurai.com/the-10x-investment-consumption-rule/
Title: Re: Should I buy a designer purse?...
Post by: ladymaam on January 01, 2019, 06:16:59 PM
Quote from: Sam on December 31, 2018, 10:29:27 PM
Hmmm, $200 isn't outrageous compared to Hermes, Gucci, LV and all those designers at $1,000-$10,000 a purse.

The thing with brand name stuff is that the margin is super high. But if the quality is good, and you don't go crazy, then enjoy.

Related: https://www.financialsamurai.com/the-10x-investment-consumption-rule/

Thanks Sam!!!
Title: Re: Should I buy a designer purse?...
Post by: Nigel on January 02, 2019, 06:05:25 PM
I asked the coach sales lady if there were less expensive ones and she steered me to last years close outs. This was a couple years back and $200 was the ballpark.  She didn't give me any attitude which was nice and was really pleasant.

Wife liked it and it's held up pretty well...she does not treat it delicately and it's her everyday carry.  It's not something she would ever buy for herself since she too is frugal.

This isn't MMM so it's doubtful anyone will put you in the wall of shame for buying something nice within your means...of course the assumption is that it is easily within your means and you are already doing all the prudent stuff Sam writes about...
Title: Re: Should I buy a designer purse?...
Post by: ladymaam on January 02, 2019, 08:59:44 PM
Quote from: Nigel on January 02, 2019, 06:05:25 PM
I asked the coach sales lady if there were less expensive ones and she steered me to last years close outs. This was a couple years back and $200 was the ballpark.  She didn't give me any attitude which was nice and was really pleasant.

Wife liked it and it's held up pretty well...she does not treat it delicately and it's her everyday carry.  It's not something she would ever buy for herself since she too is frugal.

This isn't MMM so it's doubtful anyone will put you in the wall of shame for buying something nice within your means...of course the assumption is that it is easily within your means and you are already doing all the prudent stuff Sam writes about...

Good points; thanks Nigel!