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Living like a King on a Shoestring Budget

August 27, 2017
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Who does not want to live a life of luxury? You may call it materialistic, vain or unrealistic. However, it doesn’t change the fact that many of us don’t want to live a boring or bland life. We strive to improve the quality of life, motivated by having a little taste of the finer things in life. You don’t have to be a billionaire to live a luxurious life. You can have the fast shiny cars, exciting holidays, fancy clothes and buy things you have never had all within your budget. Here are some practical tips on how you can smartly manage your money while you enjoy perks that appear way outside your reach, all entirely within your budget.

GO FOR QUALITY AND NOT QUANTITY

Luxury is not about the quantity, what really matters is the quality. Stock your closet with high quality staples that will last you long over a year when trends are still in style. When shopping, avoid impulse buying and take the time to ensure that you are buying quality items. It may seem appealing to trade in a Sh200 bob item for a Sh2, 000 one, however, quality items are much more durable compared to cheap items. At the end of the day, it will be more cost efficient for you to go for quality compared to things that do not last long. Shop less frequently, and build your luxury items over time. You can take it a step further by buying these quality items during off-season, or when sales are going on. For instance, why not shop for boots or leather jackets during summer when prices will be way lower than the regular prices it would go.

A SHORT ESCAPE

Trade in long boring uneventful vacations for short, highly enjoyable, extravagant holidays. There are also several travel membership clubs, hotel cards, reward cards, and travel credit cards which can make luxurious holidays pretty inexpensive. Various global platforms allow you to accumulate points, giving you opportunities to redeem them for free trips and holidays all over the world. Do your homework on which platform best suits you.

BUY A USED LUXURY CAR

Do you want to splurge a little on set of wheels that gets you noticed? Why pay extra for a ‘new’ car when you can buy one for a tenth of their initial price? Even luxury cars drop dramatically in price over the years. A case in example is the 2009 Mercedes-Benz C -class, which sold new, could go for as high as Sh5.5 million depending on specifications. A second hand, however, can go as low as Sh2.2 million, and you can always trade it in if you want to upgrade.

EAT CHEAP IN AN EXPENSIVE RESTAURANT

Going to an expensive restaurant doesn’t mean you have to order the most expensive item on the menu. Living a luxurious life need not be about spending crazy amounts. To make your experience at a glamorous restaurant more affordable, why not order some coffee with a cake, piece of pie and ice cream? This won’t break your budget but will give you the experience of living a lavish life, and a chance to enjoy the state of the world service, décor, view and ambience at a fraction of what others would ideally pay.

 

by

MAYA HAYA KAWA

 

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