What’s on your luxury list?
How would you define luxury, exactly? We’re all different, so your idea of what qualifies as luxurious will surely be at least a little different to mine, but in general, there’s a consensus around what defines a luxury item or experience. Usually, it’s expensive.
There’s a constant stream of articles telling you to save money for more important things by cutting out the small things, like that perennial punchbag, the daily coffee. Well, I won’t tell you to cut out your posh coffee, because the truth is, there’s no single culprit when it comes to overspending, because we’re all different.
It’s more of a mindset matter. That daily coffee might be your single indulgence and therefore become more important to you than any other item that someone else might aspire to.
Therefore, that single coffee might be your most highly prized luxury item.
Examining your priorities
Of course, if you want to save up for something big, you can get there a bit quicker by looking at your spending as well as your priorities, and figuring out what you can swap.
Oliver’s Travels have created this quirky (and potentially controversial) infographic about swapping small spends for one large purchase. On the surface, I’d say there’s little that I’d see the need to splurge on, as often I’d choose the left-hand column over the long haul, mostly because I prefer the “cheap” option! After looking more closely, I’ve come up with my own premium items that I’d prefer to save up for.
But it does make you ask yourself, how do I define what’s luxurious or desirable – is it just what other people say is exclusive, or simply what’s expensive? Because if it’s expensive, but you don’t enjoy it… it’s not really a treat, is it?
What’s really interesting about this is asking, “does that really cost that much?” and using it to assess how much you already spend on everyday items and how that translates to spending on big items.
And… who’s actually spending over £300 for a haircut and colour?
What do you think?
Of course, you can’t just swap 10 months of commuting to work for renting a castle… you’ve got to go to work to earn the money to rent the castle of course! But has this made you think about what you think of as a luxury, and what you’d want to have on your list?