My motto for Dressed to Chill has always been attainable, everyday luxury. That means no item is out if reach — that silk dress or leather bag you always wanted can easily be yours. There is no need to support counterfeits, get a knockoff, or settle for cheaper materials that will need replacing. We are all about quality here, and dare I say, a good cost-per-wear price. The only requirements are time, taste, and a little discipline.
Easy Ways to Start Saving
To put how easy it is to save into perspective, I like to tuck away about $50 each month (I keep it out of my bank account so I never miss it), which puts me at $600 by the end of a year (that's a real leather jacket or a pair of Manolos). If I add in a little extra from birthdays, holidays, and my part-time job, I can easily squirrel away $1,000 that I won't miss. This is a great way to end up with a hefty amount to spend, guilt-free, on something that's timeless. (Which brings me to an important parameter - don't you dare save up this much money and blow it on something trendy. You want something that is worth tenfold the time you put into attaining it.)
If you are able to accomplish this, consider what you really gave up each month: One night out to dinner? One night of overpriced drinks at the bar? A week of junk from Starbucks? If you really want something that you think might be out of your reach, this is a small sacrifice to make. If $50 is too much, start with just $10 or $20! You will be surprised to see how quickly it adds up. If you can afford to put aside more, the cash will compile even more swiftly. Even dropping spare change in a big jar (I have an old fashioned glass water jug) might sound silly, but it adds up! My last jar-emptying provided $600 toward a new handbag.
More Ways to Save
My BFF had suggested for months that I try Poshmark, and I finally gave in one day while I was cleaning out my closet. A couple months later, I had given these items a second life (yay sustainability) and made a little extra cash in the process. I put the money toward a set of hard-sided luggage, which was a luxury I may not have bothered with if I didn’t have the extra cash.
If you are in the market for a credit card (like I was when I was considering applying for my mortgage), I encourage you to do your research to find one with benefits that work for you. The the best option for me was a card that provided cash-back rewards and no yearly fees — enter, my Capital One Quicksilver card. I get cash back on most purchases and there are special deals for many retailers (like a 7% cash back opportunity at Bloomingdales). While it takes some time to add up, patience and strategy will allow you to save hundreds of dollars in rewards. Then, use the card to purchase the item of choice and apply the rewards toward the resulting statement balance. I always pay my balance in full and never really accumulate interest in my credit cards, so this is truly free money. Click here if the Capital One Quicksilver Visa sounds like a good fit for you!
There are a lot of apps today that will help you save (and even invest) money quite passively such as Acorns or even ones that link a savings plan directly to a specific item on the internet. However, some services like this also take fees that can outweigh little savings like those you get when rounding up your expenses. Personally, I have not tried any of these and don't like linking my bank accounts up to external programs. They may work for some people, but you don't need fees or an app to put a little money aside.
A good compromise would be starting an additional free checking account with your bank so you can set up automatic transfers to it. (This works great for emergency funds too!) Whichever way works best for you to be able to set a little money aside each month and watch it pile up. You don't need an app, a program, or a financial advisor. You just need patience and that luxurious piece is yours!
Use a BNPL Service
A BNPL (buy now, pay later) service may be a good option if you're impatient or don't have a credit card, but want the perks of one. Some popular BNPL services you may have seen offered at checkouts are Afterpay, Affirm, and Klarna. These services link with different retailers to offer you the option to break up your purchase into payments through them instead. It's like financing with training wheels. Afterpay, for example, creates four equal, interest-free payments. It's super easy: Look for and choose the Afterpay option at checkout. You will be directed to the Afterpay website to complete the transaction, then back to your e-commerce site. Afterpay will outline the plan for you, then automatically deduct the remaining payments every two weeks. For a quick overview of these three common BNPL services, see the summary below! (Afterpay is the only one I have personal experience using.)
| Afterpay | Affirm | Klarna |
Basic Overview | Choose Afterpay at checkout to break up your purcahse into four installments over 6 weeks. | Choose Affirm at checkout to get various payment plan options. | Choose Klarna at checkout to get a variety of payment plan options. |
Pros | Easy Sign-up, payment reminders, no interest (just a fee if you're late on a payment) | Plans are broken down up front so there are no hidden fees or charges. | Offers ways to break up payments (BNPL) as well as more traditional financing options with interest |
Cons | Not all cards accepted; Starts you off with small amounts available to use Afterpay on | Some plans charge interest. | Using the finance option cannot help you build credit because it's not reported, but they'll report you if you default, which can hurt your credit |
Common Retailers | Nordstrom, Revolve, Dylan Lex, Anthropologie, Jimmy Choo, Sunglass Hut | Neiman Marcus, Gucci, David Yurman, Moda Operandi, Theory | Macy's, Saks, Nike, Norma Kamali, Ferragamo, Stuart Weitzman, Mac Duggal |
Keep an Eye Out for Sales
I keep a running wishlist of things I'd like to purchase if the opportunity presents itself. I check them frequently on multiple websites to see if something's on sale or part of a promotion. If you plan to get an item anyway, save up, have the money ready, and get it on sale. Why opt to pay more than you need to? I set up my Nordstrom app for alerts and as soon as the price drops on something big I've been eyeing up, I can snag it without hesitation.
Sometimes stores also run sales that aren't available online, so ask around and inquire with sales associates in person or over the phone. They can often give you insight that an item will go on sale in a few days, or be part of an upcoming promotion. Many stores will hold your item until the sale starts or let you return and repurchase it at the adjusted price - so always ask!
Justification of “Expensive” Pieces
Firstly, not everything nice is expensive, and not everything expensive is nice. However, there is most certainly an association of quality with price. That’s why we have the phrase “You get what you pay for”. Hear me out.
There was a point in my life that I bought a new pair of nude, strappy sandal heels every year for 4 or 5 years. All of these pairs were of decent quality from contemporary brands and averaged around $100, but in every single pair, my feet were in excruciating pain. Many pairs never made it out a door at all; and I was gearing up to buy another. I was averaging over $100 a year on this same exact shoe. This is an endless expense with a cost-per-wear that never decreased. It was a continual loss of money with no discernible gain in tangible goods.
Fast forward to when I found a pair of designer shoes in a similar style. They are absolutely perfect, oddly comfortable, and extremely wearable. Since they're real leather, they are also affordably fixable if they get damaged. I don't see myself needing to purchase another pair of strappy nude heels for the rest of my life, truly. They were $800, but I have already worn them more times than the other five pairs combined. So at least $100 a year indefinitely, or $800 once? Don't be afraid of high price tag if it's worth it. In the end, it's often the more economical choice.
Moral of the Story: It's Always a Win-Win
The best thing about saving your money is that it's not going anywhere and it's not branded with a final destination. The timeframe of saving provides you time to assess your potential purchase, confirm it's not a fleeting trend, and be sure this is something that fits your lifestyle; but you can still decide not to make that purchase! In that case, you still saved a ton of money, and it's not going anywhere.
There have been times I've put aside upwards of $1,500, then couldn't commit to the purchase I planned to make. Last time that happened, I was able to put the money toward my graduate class and another time, we ended up buying a beautiful cabinet for our living room. It never hurts to have a little extra money (that $50 a month you totally forgot about all year) suddenly appear.
Evaluate your finances, determine how much you spend in a week or a month, and find a way to make a small sacrifice. If you can do without a small amount worth of something silly, you'll be able to spend an awful lot on something smart. Think of this like pulling out your winter jacket from last season and finding $5 in the pocket - but like, times a hundred. Who doesn't love that feeling?
Do you apply any similar tips to your saving habits? Have you ever used a BNPL service? Did you find any of these ideas helpful? Let me know in the comments below!
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