Kochie explains how to live a life of luxury without breaking the bank
A FEW clever money tricks here and there can enable you to live a life of luxury without breaking the bank. Kochie explains how you can do it.
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THE daily financial grind of balancing the family budget can be an enormous challenge and, at times, get us all down … particularly for families with a few kids.
Life is for living and we deserve rewards for all our hard work.
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Sticking to a budget doesn’t mean you have to deprive yourself of life’s little luxuries, you just have to plan for them, keep impulse buying under control and have a savvy strategy.
Luxury products and experiences don’t have to attract luxury prices. Hopefully you’ll be inspired to stick to your savings plan if you get to reward yourself every so often.
When drawing up your family budget, work out how much you can afford to spend on luxuries like dining out, non-essential shopping or holidays, and treat these items as an expense.
A colleague at Sunrise received a very pleasant surprise from his wife for his 50th birthday … an all expenses paid holiday for them both to attend the Italian F1 Grand Prix.
She had secretly put away $50 a week for two years and hunted down great travel deals. So it can be done.
Surfing the internet makes it so much easier to hunt down the best deals. Here are a few thought starters we swear by:
TRAVEL
HOUSE SWAP
Websites like www.homeexchange.com and www.aussiehousesswap.com.au provide platforms for people to list their homes and swap with other like-minded families. If you live in the city, think about swapping with someone who lives in the country or has a place on the coast, and vice versa. Another benefit of swapping homes is you get a kitchen so you can prepare all your own meals rather than the cost of eating out
CHASE THE BEST CURRENCY CONVERSION
If you want a luxury vacation, find a country where your dollar can stretch. Asian or Pacific destinations such as Vietnam, Cambodia or Tonga often have great deals on luxury travel because of the conversion.
GO OFF SEASON
Travel to destinations at a time when hotels and restaurants are not full and they’re offering big discounts to attract customers. It doesn’t mean going to extremes, shoulder seasons mean the weather is still nice and the value is there.
USE CREDIT CARD REWARDS
If you’ve always wanted to experience premium economy or business class flights, use your credit card points to travel in style — for free. But you will have to pay those pesky taxes.
ALWAYS ASK FOR AN UPGRADE
There’s no harm in asking! We have a relative who claims it’s their wedding anniversary every hotel they book in to and invariably they get a bottle of wine free or a room upgrade. Warning; don’t claim it’s your birthday because you run the risk of being found out if they check your passport.
BOOK THE CHEAP ROOM IN A GOOD HOTEL
No matter whether you’re sleeping in the royal suite or the broom closet, the pool, day spa, restaurant, gardens and city sights are exactly the same for everyone. Very few book a hotel to spend all day and night in their room.
BUY SECOND-HAND
USE ONLINE MARKETPLACES
Gumtree and eBay have bargains on everything from strollers to televisions that are still in mint condition.
USED OR OLD MODEL CARS
New cars lose value as soon as they leave the dealership, and drop up to 50 per cent in the first five years. Check out used car trading websites like carsales.com.au and drive.com.au for deals.
USE COUPONS
DON’T BE EMBARRASSED TO CUT COUPONS
They’ll save money on luxuries from dinners out to dry cleaning. Keep them in your wallet or by the door so you don’t forget to redeem them.
LOOK FOR ONLINE COUPONS
Before making an internet purchase do a quick search for a relevant coupon code to get a discount. Type in the product name and the word “coupons” and find out what deals are out there.
FASHION
BUY LESS BUT QUALITY
Splurge on a couple of high quality pieces of clothing which last longer and look great rather than lots of cheap stuff which wears out quickly.
BUY SECOND HAND
Second hand shops are a great place to get designer and high-end clothing for reasonable prices. Look for specific brands you love.
RENT A GOOD OUTFIT
Blokes have been renting tuxedos for years, now ladies can rent designer outfits from internet platforms like Glamcorner and The Volte. Rather than spend $500-1000 on an outfit, look amazing for $100.
COSTUME JEWELLERY ROCKS
Diamonds may be a girl’s best friend but cubic zirconia looks the same and is a better financial deal. There is an enormous range of good quality costume jewellery available.
GROCERIES
BUY ICE CREAM AT THE SUPERMARKET
Instead of spending $6 on a scoop at a specialty ice cream shop, splurge on the most expensive litre at the supermarket. It’ll cost you about the same and last the whole week.
SHOP AT THE LOCAL FARMER’S MARKET
Great quality, great value and a great experience. Make it a weekend tradition.
GROW YOUR OWN FRESH HERBS
Fresh herbs take your home-cooked meals to a whole new level. Grow some basil, mint or parsley on your windowsill or balcony.
BUY IN BULK
Indulge in costly groceries or organic fruit and vegetable by buying in bulk from markets.