This is a topic I get asked about a lot… and I totally get it. Whenever I see anyone with a lot of nice things (read: things I want!), I am always curious about what it is they do for a living that enables them to buy such beautiful things. Never mind that I myself am in a fortunate enough position to be able to buy many lovely things – that curiosity is always still there. What I have found through personal experience is that by and large, how much you earn is secondary to the ability to save and money manage when it comes to affording expensive items such as Chanel bags.
The key to realising the value of saving comes from knowing that a pound earned is not the same as a pound saved. When you save a pound, you actually keep a pound whereas when you earn a pound, you pay tax! How much you get taxed on every pound obviously depends on how much you earn (or at least it does in the UK) but needless to say, you aren’t getting anywhere near a full pound.
I try to be mindful of this when saving and spending and it does go a long way to informing my attitude towards money. I used to be an incredibly reckless spender and whilst I was fortunate enough to never get into serious debt, I wasted a lot of money when I was younger on frivolous things which I either no longer own or no longer give me any pleasure. I still have my moments now but I think I’ve gotten a lot of better at managing my money and saving when I need to. I share 11 tips in the video above – but as I say (twice!), this isn’t intended to be preach-y; money management is something that I struggled with when I was younger so I thought I would go ahead and share some tips in the hopes that it helps someone else 🙂
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