How many times have you had to hold back on buying luxuries like designer clothes, new tech and digital items, and even new décor and furnishings for your home simply because you didn’t have enough money right there in the moment? Whether the purchase was more of a want or a necessity doesn’t matter – it can be frustrating and disheartening to constantly have to say no to these little luxuries. But does that have to be the case?
In reality, there are a number of easy ways that you can go about funding those little luxury purchases so that you don’t have to keep telling yourself no, and you can go ahead and splurge once in a while. Here are some practical tips you can put to use right away.
Take on Extra Hours at Work
For those who can take on extra hours at work, this can be a really simple way to make more money that can then be used to fund your luxury purchases. Figure out how much extra money you need, and what that will work out to in terms of extra hours. This will be your goal that you can work towards, with the purchase being the motivating factor. Moving forward, this technique can be used as often as wanted or needed in order to come up with the money needed.
If your job doesn’t offer the opportunity for extra hours, maybe you want to look at a freelance or contract gig that you could use as supplemental income either in the short-term or long-term.
Sell Items You No Longer Want or Need
Another way to come up with money without having to make any sacrifices is to do a little declutter of your home and collect items you no longer want or need that can be sold. If they hold value and are just sitting in your home collecting dust, why not get a little money out of them?
Be sure to check out online local buy and sell groups as a vehicle for selling your items. These tend to have a fairly large following, which means you’ll be able to reach out to a good number of potential buyers. Keep in mind that pictures will often do wonders in terms of selling an item for top dollar, so be sure to take plenty of high-quality shots that you can post with the listing.
Consider a Short-Term Loan
Another option for funding these luxury purchases would be to look into a short-term loan. This is ideal for people who don’t want to wait to save up in order to make the purchase, but just don’t have the full amount of cash needed right now in the moment. As long as you can stick to the repayment terms and pay the loan back within the set amount of time, this can be a worry-free and simple option.
There are direct payday lenders that specialise in these types of short-term loans. They provide you with cash to get through to your next payday, when you can then pay it back. If you’re looking for this kind of lender, Payday UK can be extremely useful. Payday UK is a broker, not a lender, which means they will do the research and legwork for you and find all the top UK lenders.
You'll get an instant quote from leading lenders without having to go through a credit check, the small loans can be paid out the same-day, and you can borrow anywhere from £50 to £5,000.
Shop Off-Season and Save Money
You can also save money on those luxury purchases, making them more affordable, simply by shopping off-season. Take for example outdoor furniture and décor; heading into the autumn, these items tend to get marked down since they are no longer in demand. You can also apply that same technique to off-season clothing, and tech items around the festive season, as this is when the latest models tend to get released and the old ones need to be blown out.
Keep in mind there are also sale times of the year where it’s common to find many luxury and designer items marked down.
Start a Luxury Shopping Purchase Fund
It’s also a good idea to start thinking ahead and create a budget that you can draw on for those luxury purchases as they pop up. You can put away a certain amount of money weekly, monthly, or yearly that will act as your luxury purchase fund. It’s just a matter of giving yourself enough time to let it build up so you can make those significant purchases.
Stop Saying No to Every Purchase
By using these tips and techniques, you’ll be able to stop saying no to all the luxury purchases and instead start making them happen. It just takes some financial planning on your end, and perhaps a little creative thinking on how to come up with extra funds.