…how can I save money and still keep up with trends?…are there key investment pieces to look out for?…
Quarantine buying hitting harder than you first thought? Are you tracking packages like it’s your second job? If you answered “yes” to any of these then welcome, you are now among like-company in reading this post 
I personally answered “yes” to all three of these questions and have found myself in a post-purchasing tornado, picking up the carnage that the past 10 months has inflicted on my wallet. It’s a cute wallet, so don’t worry, it can take the pain fashionably 
For as much as social media jokes about the “add to cart” therapy, it has a very real truth buried under the comedy…one I have come face-to-face with and have the receipts to prove it! Knowing that we are going to be living under new circumstances for a bit longer, there really is no better time to hunker down and take a raw look at how to approach buying with a friendly face while not letting those heart-eyes overtake better judgment (or fill a void!).
If you are wondering how the heck this single post is going to boil the very large and vast ocean that is “buying”, you aren’t alone – I wondered that from the very minute I thought of this idea. I decided that taking a step back and removing the specifics made for some very common themes to arm an arsenal of good choices. We are still going to look through the lenses of “tech talk” and “couture chat”, but rather than chose “A” over “B” let’s talk about how to make the choice in the first place, that way it won’t matter what “A” and B” are. Simply, I’m not going to give you a fillet, let’s learn to fish instead…
phone emoji 
= tech talk …… handbag emoji 
= couture chat
When it comes to technology, it seems as though the minute you get comfortable with a device, it becomes outdated. This can drive a person insane! Nevermind trying to keep up with the latest and greatest. For this reason, I’ve decided to focus on two critical pillars for any tech addict – frequency and fatigue. How can the tech lovers of the world possibly keep up with trends without getting bogged down both financially and mentally? It is possible but takes some discipline…
How Often Is Too Often: If it were up to me, I’d be switching devices weekly, but that is absolutely not sustainable! Manufacturers have become unparalleled in their ability to make consumers believe that they will simply not be living life to the fullest if they don’t run to pre-order the newest model of [whatever]. With prices rising and disposable income becoming more ‘particular’, it isn’t easy for the average person to jump at the chance to drop $2k on a new piece of technology. That’s where understanding when to make the switch becomes a key factor in becoming more fiscally responsible with technology buying. For simplicity, I will assume everyone reading this is trying to take a step towards being more financially conscientious, so those who don’t care about prices or have to be on the cutting edge of the industry – do your thing and cha-ching. For everyone else, there are two main buckets of buyers in my option: those in it for the long haul and the curious adopters. These two categories have slightly different edges when thinking about technology timeframes, so let’s tackle them individually.
- Long Haulers – if you buy technology in order to have a tried-and-true friend, ready at a moment’s notice, and eager to please your every computing need, then timeframes for spending will be noticeably larger compared to your curious adopter counterparts. Technology, not unlike other industries, ebbs and flows in waves of 3-5 years. The days of devices lasting 8 years before replacement are long gone…manufacturers are building somewhat ‘disposable’ products in order to hook the next purchase based on failing hardware. It may be a dirty well-known secret, but it’s a fact. If you are hoping to lengthen the time between purchases (and pocketbook openings), don’t fall into the early adopter crowd. New devices, especially those with cutting edge form and/or function, will not last for more than a year, if that. The best case is that you will get a few months without something becoming defective, glitchy, or replaced with a new model. I can feel everyone in the Long Haul bucket cringe when I say that, but knowledge is power people. I will also offer that technology rarely changes drastically with a single device increment so give yourself at least a 2-device-cushion to ensure that you aren’t buying outdated but you also aren’t taking part in the test market. For example, a long haul purchaser would most likely want to entertain the idea of the iPhone X generation over the newer 11/SE or 12 models. Plus, by staying back a few steps, you will be saving a pretty penny in the process. The major downside to the long haul mindset is remaining cognizant of software and O/S support. Your devices will more readily run the potential of falling outside of the support window, whether it be a phone, computer, or otherwise.
- Curious Adopters – like the idea of a brand new phone but hate the price tag or uncertain if the features are really that different? You would most likely be a curious adopter or someone who likes to stay current but not at the front of the line with a handful of money and time to deal with new device quirks. Your sweet spot, unlike the long haulers, would be at the half or 1-device-lagging position. Keeping with the iPhone example, you would be best suited for the 11 or SE generations versus 12. By staying a half or full generation behind, you are remaining in the new feature roll-out window without paying for the modest enhancements to the body or (rarely noticeable) camera specs. The additional good news is that your devices will remain within the most optimal range for trade-in value and accessories will be plentiful. One downside to note is that with the pace of new devices coming to market, you may find that this half-or-full lagging mindset has you switching more frequently than you would like or have had anticipated, so pay attention to deals and promotions to help with the financial outlay when it comes to flying this close to the sun on new devices.
Device Fatigue: This is real my friends. Whether you are a long hauler or curious adopter, devices are being introduced no matter where you look – phones, smart homes, cars, and the list goes on. So how do we stop the constant barrage of guilty feelings as though we need to keep up with the latest new “it” item? Know your deal-breakers and stick with them. Seriously, it’s that easy. Whether you are exhausted of comparing new devices or tired of the device you currently have, fatigue is the mind’s way of shutting down and saying “I just don’t care” when, in fact, you do but are overwhelmed. In the case of both new device fatigue and current device fatigue, knowing what you want will go a LONG way in easing your mind’s journey to finding the next “thing”. You won’t be able to keep up with all of the new releases, nor should you. Look and care about only these things that have exactly what you need and don’t cause you to negotiate with yourself on deal breakers. Don’t like hinges – then do not trick yourself into want a foldable phone. Hate the Apple O/S – stop looking at Mac Books. We can easily tire our minds and wallets with the fear of missing out (yup, FOMO, I went there), so if you give yourself a map of what you truly don’t enjoy/need, the “missing out” aspect is stripped away and therefore the fear. I’m not, nor have I ever been, a robotics person…so I’m not going to lose sleep or drain myself with the notion of staying on the cutting edge of drone development. Don’t tire yourself over something that isn’t worth your energy in the first place, according to your priorities.
I recognize that this information may not have been earth-shattering, but it’s important to keep perspective when it comes to spending wisely. Knowing your technology profile and associated needs/wants allows for a more educated buying experience and limits the impulse or shiny-object purchasing. If you still find yourself drawn to the newest items even while your wallet is silently judging you, look to leverage deals, promotions, and trade-in programs in an effort to reduce the impact on your finances 
Anyone else getting anxious looking at all of the new, fabulous pieces expected to release this year? Exhausted from opening up social media and getting bombarded with a flood of posts on “what’s hot now”? Yup, me too. Before I even think about spending a few hard-earned dollars on product “X”, there is already a product “Y” hooking me in! The struggle people…the struggle. So what is a person to do when they can’t seem to keep their heads screwed on straight long enough before swiveling to the next best thing that most likely requires a hit to the wallet? Understand your landscape and keep intruders to a minimum. How do we do that? Glad you asked!
Understand Your Landscape: I’ll be the first to admit that until very recently, I didn’t fully take inventory of my luxe pieces. Yes, I have many of them on display but I also have many stored in my closet and others that I don’t immediately think of as “pieces” such as scarves and shoes. I decided that I would finally face all of my buying head-on and make a list of the pieces I own, including as much detail as possible (purchase date, price, category, etc.). Not only would this serve me well for insurance purposes, but also create a reckoning with my buying habits. It didn’t take long to realize that I had more than I thought and several pieces that I even forgot about! It’s easy to keep thinking you need another scarf or hat, but until you sit back and look at the pile that unknowingly grew to a small mountain, you can’t do anything about it. So, for that reason, before we go any further into the depths of being fiscally responsible – know what you are starting with! I used a few basic categories to help me really understand where my over-purchasing tends to occur that way I don’t keep falling into the same trap. Try and think of your inventory in terms of jewelry, bags, wallets, pouches, shoes, scarves, small leather goods/non-wallets, and “other” (which is where I put hair accessories, hats, etc.). Don’t be surprised if you see a trend emerging in certain categories – knowledge is power and we can harness this into buying smarter!
Limit Intruders: Now that you know exactly what you have, it’s time to harness the education you learned about your buying habits into a discipline that stays true to your aesthetic. Anything falling outside of your normal “look”, color palette, or functional use can be seen as an intruder. We want to keep those to a minimum, but again, we need to know what to look for. Understanding your luxe landscape should assist in identifying how your luxe collection has evolved and grown. Don’t see any backpacks in your inventory? Ok, that’s probably not part of your aesthetic. Does that mean we never buy backpacks? No, it just means we buy smart when we do want a backpack 
Believe me when I say, we all fall for the impulse buy, the trendy item, the sale that’s too good to pass up…don’t give yourself a hard time about it! Just don’t build a collection on it or go broke on the adrenaline rush.
So we’ve admitted that intruders will enter our luxe landscape, but in trying to keep their impact to a minimum, let’s talk about financially-reasonable ways to indulge in their presence…
- Pre-Loved & Secondary Market Buying – this is the most practical way to allow yourself those intruder-pieces without robbing your wallet. I dedicated an entire post to how to navigate this space, so I’ll spare the details here…just know that giving an item a new home doesn’t mean sacrificing quality or experience. You can build trusted relationships with secondary market players and find that by supporting their small business you are also supporting your wallet.
- Trends vs. Timeless – The quickest way to drain your bank account is to indulge in every trend and “it” piece that hits the market. These intruders are shiny, tricky little monsters that make us think we absolutely must have them or else fail to meet some ridiculous popularity standard social media places on us. This doesn’t mean we have to put our blinders on and stay stuck in a rut…it just means we need to be picky and shrewd about how to introduce trends. Always opting for timeless pieces will give any collector the comfort in knowing that their value, design, and use will stand the test of time, but it also could lead to a collection lacking any real personality or flare. Instead, invest in trends in small doses (or pieces). Spending money on trends is OK if you set a limit and look for items that could transition time without a significant depreciation to value or your fashion sense. A good example is the “dad” sandal trend. Investing in one or two pairs that are a neutral color and durable fabric means less buyer’s remorse and sunk costing compared to the unicorn, mermaid PVC version you might wear twice if you’re lucky
Even trends can strike a balance with classics, so find the sweet spot and don’t let your pendulum swing too far in either direction. - Multi-Purposes Pieces – I absolutely love a good multi-functional piece and that’s probably why I find myself swimming in SLG’s versus handbags. Wallets that double as clutches, pouches that organize and also hold credit cards, backpacks that transform into crossbody bags…the luxe world is full of chameleons if you keep your eyes open. Investing in items that aren’t a one-hit-wonder absolutely earns you back every dollar spent since it is much less likely they will be sitting on a shelf waiting for their very specific moment to shine. I will say that I draw the line at deceptive functionality and if a makeup case is meant to serve as a travel organizer, let’s not make it into an evening bag. This isn’t to say that upcycling or re-purposing luxe for other pieces isn’t OK…in fact, I’m a HUGE supporter of this and have the accessories to prove it. I am more speaking to trying to deceive or transition non-luxe products into a category which they were never intended to be a part of. Be creative and by all means let’s give new life to well-loved luxe, but let’s not be something we aren’t.
The last bit of wisdom I would be remiss not imparting is the importance of tracking your spending. Similar to the concept of food journals and mood trackers, taking the time to continually document your spending as it occurs serves two purposes: (1) keeps your inventory up-to-date and (2) imparts a sense of reality to the money coming in and going out of your life. “Out of sight, out of mind” is a dangerous proposition in the luxe world, so do yourself a favor and write down each purchase. If you want a fancy and fun way to do that, be sure to check out the planning post for some tips, but otherwise, any notepad or spreadsheet will do 
Having been an inhabitant of (and currently a visitor in) “Ban Island”, I appreciate the need to scale back purchasing from time to time. Depriving and punishing ourselves for over purchasing is never a line we want to cross, so please understand that a short-term ban is not the same as a pro-longed penance. Buying something we love and can afford isn’t a sin, rather it is an indulgence that we must treat as such. Having a decadent dessert each and every day seems fun at first, but is the joy of the 13th bite the same as the 1st? Does the price tag seem just as reasonable the 5th time? Odds are, no. The same holds true for our love of luxe and tech. Constant indulgence will not only lead to a financial headache but also dull the spark that brings us joy in the first place. Take time to reset and re-evaluate the investment in your passions so that they don’t become a hidden enemy to your personal progress 
