When you’ve achieved a certain level of success in terms of your career and financial goals, you can feel reasonably justified in spending big to reward yourself. While some people discourage frivolous or excessive spending, we all have a fundamental need to celebrate milestones and have our hard work be recognized.
Rather than go overboard with your spending on luxury goods, it’s better to consider what you’re after with a given purchase and seek out the best items and brands for you. Here are some categories for your consideration.
Millennials prize experiences, and it’s no wonder that their emergence as a powerful spending demographic has driven a rise in luxury consumer experiences. Thanks to this increase in demand, you’ll have no shortage of luxury options for travel – from unique destinations to first-class flights and accommodations.
But vacations and tourism aren’t the only ways to spend big on experiences. Attending must-see events, from big-name concerts to exclusive product launches from high-end brands, is another way to indulge. Food is another increasingly popular option; there seems to be a near-endless variety of new places to dine out. Whatever the experience, spending big means you can join the ranks of social media posters and not have to worry about FOMO (fear of missing out).
Perhaps the staple of luxury shopping, high-end names in fashion such as Gucci or Chanel, remains among the world’s biggest luxury brands. This is where you go to impress with status; part of fashion’s function, after all, is to help differentiate people across all walks of life.
From clothing to bags, shoes, jewelry, and watches, these brands don’t just guarantee quality – they signal success and affluence perhaps better than any other purchase. You won’t always be seen in your exclusive home or driving a sports car, but you’ll be seen in what you wear; let it express your unique style and status.
Buying expensive technology can be quite different than other luxury purchases. Though we don’t all aim to be James Bond with our array of gadgets, there’s a level of discernment and knowledge of features that comes with a carefully chosen piece of tech. The features are important; you’d buy a $10,000 pair of Sennheiser earphones not just for style, but for noise cancellation, sound quality, and comfort.
In a similar vein, automobiles can be grouped with tech. A BMW or Ferrari isn’t just a means of getting from point A to B. While the various luxury car manufacturers all impart status on the owner, you’ll probably find yourself considering fuel efficiency and handling, integration with smart technology, and environment-friendly features, among many others.
The ultimate declaration of success is finding a premium location to settle down. Some people like to pay for an exclusive address in the big city, while others look for secluded property to create their quiet paradise. Lakefront homes, for example, are always in demand, and you’ll have a hard time finding bargains for sale in desirable locations such as Lake Murray in South Carolina.
Beyond the location, though, you can invest more into what goes in and around it. Marble bathtubs, fine art pieces, personal spa and gym rooms, wine cellars, and smart home systems are all designed to elevate your everyday living experience. Outdoor patio renovations, landscaping work, or a yacht for your waterfront home, do the same for the outdoor areas of your property.
Whatever you’re aiming for, when you’ve reached the level of luxury spending, odds are you’ll be able to find it – and for once, money probably isn’t a problem. Look for what gives you the most satisfaction, and enjoy your hard-earned rewards.