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.

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

Ask for an upgrade to business, it can’t hurt!

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

Use your credit card points to upgrade.

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

Coupons are a great way to save money.

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

You can rent clothes online, which is much cheaper than buying if you have an event.

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.

Originally published as Kochie explains how to live a life of luxury without breaking the bank