November 22nd, 2012

Catching up with my friend Kate last night, we got to talking about our money – making it grow, self-protection, and all that jazz. We then got onto the topic of spending. Kate knows me well. She knows that I love it when women reward themselves with what they really REALLY want. Hey, they have worked hard for their wage and should enjoy it!

“But what if they can’t stop spending on handbags?” Kate asked.

Nothing quite unites women (who love style) like a handbag. If you’re like me, then you carry your life around in your handbag – phone, wallet(s) nappies, bottles, snacks and, of course, not forgetting our beloved make-up, which gets its own special bag! Before parenthood, I certainly bought more handbags than I do today; a clutch for this and another handbag for that! My love affair for handbags reached its peak when I came across my LV Neverfull bag. It’s not the most glamorous of bags, but it is practical. So practical, in fact, that I have not purchased another bag since. I would be lost without the comfort of its design. It has the flexibility to be a school bag for many lucky schoolgirls, a briefcase for the corporate woman and even a diaper bag for the stylish mom.

Handbags are an essential part of our everyday lives, but a question many women have asked me over and over again is: are they a good investment? While some women may disagree and believe that spending on a bag is a big waste of money, I am on the other team. I think we all have a choice on what we spend our money on. The thing is, you only have so much money to spend, so spend it mindfully and don’t spend all of it.

When you get your own personal formula working for your financial goals, monthly spending becomes irrelevant as saving comes first. You realize that
you can have what you’re after if not this month, then wait a bit longer and buy it next month. You get what you want and the guilt seeps away from your
spending, leaving you feeling good about it. I have been talking about spending smart for some time now and I am an avid fan of a ‘try-on night’. What these ‘try-on nights’ have taught me is this: the tops, the shoes, the accessories and yes, the bags of value that I have bought over the years always, always stay in my wardrobe. I cherish these pieces. They are my star attractions and when it comes down to cost per wear, they outnumber the cheaper alternative every time.

Now, back to the handbag… a good investment? Well, the answer really is quite simple: if you still have money left at the end of each month to put in it, then I would say you’re doing fine. Like all things in life, it’s about moderation. I know that saving my money is important too. As when my kids get older I want a pot of money waiting for me for the next chapter. Who know what my handbag will be – but at least I know I can afford it.

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