At What Stage in Life Do You Splurge? - YouLookFab Forum

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At What Stage in Life Do You Splurge?

gradfashionista

(website)

Veteran

My question: As an unattached grad student, is *now* the best time to make a few quality purchases (purse and trench)? Or should I wait quite a few years until I have a job and a significant disposable income?

Context: There's a trench that I've been eyeing that costs $1700.

Opposed to Buying: The Voice of Reason--you have other priorities!!!

In Favour of Buying: Aside from the financial burdens that come later in life (mortgage, car(s), kid(s), health care, retirement savings, etc.), when buy something luxurious and classic in your late 20s/early 30s, you can wear the pieces for decades. Having bought enough purses over the many years, for example, I now know exactly what I need/like/will use. I gravitate toward the same concept for the same reasons.

What do you think?

Shopping

91 replies

Latest reply was from gradfashionista

MsMary

Veteran

Oh, my. I can't imagine spending that kind of money on a coat as a grad student, unless I were a trust fund baby. Hell, I can barely imagine spending that kind of money now!

As we've discussed here before, I'm not sure it's true that you can wear a "classic" piece for decades. Lapels get smaller or larger, hems go up and down, belts come and go, and so on. Moreover, I'm not sure you'd WANT to wear the same piece for decades. I know my taste now is very different than it was in my 20s.

Sorry, but I am Team Voice of Reason on this one.

anne

Veteran

Yes I agree with MaryK. I splurge at this point might be a $250 suit for when you need it for interviews.

MsMary

Veteran

I'm coming back to say that in my view, the time to splurge is when two criteria are met:

1. You have the cash on hand to buy whatever it is outright. No going into debt for $1,700 coats!

and

2. You are absolutely positive that the highest and best use of that cash is the splurge item. I.e. you aren't spending your tuition money or rent money on the $1,700 coat. And you're also sure there isn't something else you could do with that money that would bring you more satisfaction or utility, like use it to pay down your student loans or take a trip somewhere.

If both those criteria are met, whatever your stage of life, I say knock yourself out!

Aparna

I think it all boils down to lifestyle... Do you think you can get enough wear with this trench, knowing that it is silk and will HAVE to be dry cleaned and probably not good with spills/ rains ...the everyday elements?

bj1111

Veteran

i haven't spent that sum for any item of clothing or accessories. my hands shook when i bought a st john jacket at full price nowhere near that price point and i intend to be buried in it to decrease the cost per wear.

splurge clearly is relative to one's income, savings and value. as a student if you have any debt, including student loans, then you can't afford this particular splurge.

geez, when did start sounding like my mother?!?

taylor

Veteran

If you really~ want or love~ something...fashion related or not and you have the money and can afford ...I say go for it!

Jonesy

Veteran

Hmmm, I don't think I can be objective about this, since I can't imagine spending that kind of dough on a beige trench, even if it is Burberry :)! Since it's silk, it will get so wrinkly too...

I guess I'm with MaryK and her criteria.

Fruitful

Veteran

I would add to Mary's criteria that the available money for a splurge has to be calculated after deducting regular savings payments (for a property, a trip, a nest egg).

You don't have to be at the childbearing stage of life to be taking care of these things.

On the contrary, the best dressed people I've known have been smart with their money too (invested in their own home while in their twenties and single - taken several trips overseas - and they didn't have parental support, just very determined to live well).

gradfashionista

(website)

Veteran

Team Reason is prevailing, alas.

The sum seems ridiculous, I know--I won't deny it isn't (but check out the coat! http://www.net-a-porter.com/product/186640).

I would NEVER go into debt for fashion--if I bought this, I wouldn't be in debt and I could still afford rent and food. I don't own a car (don't know how to drive, so no temptation), I live close to campus (ergo, no bus pass) and I'm *not* stuck in any ridiculous financial contract of any kind--cable, smart phone, etc. Heck, I use prepaid because I don't want to be trapped in a plan that profits from my non-use! Hope that hints to my not being a compulsive impulsive spender without any sense of values.

goldenpig

(website)

Veteran

Sorry but I have to agree with MaryK and the others, if you don't have a job, it's definitely not the time to be buying super expensive coats. You shouldn't go into debt for clothing. I agree with Aparna that silk might not be the most practical fabric either. And like bj1111, I've never spent that much on a single item of clothing including my wedding dress and I don't think I would even now on my current income. Once you have a job, are putting away money toward essentials like rent, health insurance, student loans, retirement, etc. then that would be the best time to re-evaluate where to direct your disposable income.

MsMary

Veteran

Sorry, but I think that trench is ridiculous for anybody who doesn't have piles and piles of disposable dough. It's not a real trench coat, it's a silk imitation of a trench coat, YKWIM? It's not going to keep you warm or dry, it's just going to shout "I spent $1,700 on a silk trench," and at your stage of life I don't think that's really the statement you want your clothes to be making.

shoppingisfun

(website)

Veteran

Why not just buy a cheaper trench? I graduated a few years ago, have a steady job, husband with a steady job, own a house, etc...but I don't see why a trench would cost that much unless you're just paying for a designer name. There are plenty of quality trenches for less than that!

I bought a Banana Republic trench two or three years ago for $250, which was a huge splurge for me. I still wear it all the time and it's still in great shape.

ETA: I didn't read all the posts before I replied. It's silk??? No way would I pay much for a coat like that. If a trench can't be worn in the rain....what's the point? It's pretty, but there are lots of pretty trenches out there for wayyyyy less. I recommend Banana Republic. They have an ADORABLE pink trench right now that I want sooo bad, but it's a couple hundred bucks, so I just can't justify it.

gradfashionista

(website)

Veteran

Thanks to all of the comments so far--I appreciate the feedback!

@MaryK: That's a good point that I hadn't considered. I wouldn't want people to question how much I spent on it and to judge me on this basis (although for whatever reason, people who spend $2k on Macs aren't judged)--I would want it look attractive, but not invite questions (my general style). Angie said in a previous post that Burberry coats were definitely worth it (unless I misunderstood her statement in a reply to a post of mine from Dec.). Their cheap trenches start at the $1000 and look classic, so I guess I didn't see this (in the grand scheme of things) as being that far of a stretch--once you're spending that much, it's worthy it to spend a little more to get exactly what you want.

(In general, I would much rather spend that money on a clothing/purse than any form of electronics/computer, though, because of how easily outdated/broken they become, their rate of depreciation, and I wouldn't hypothetically spend more than a few hundred dollars on a wedding dress.)

diane

I agree with taylor - you want it, and can pay for it...do it.
But don't ask me. I just spent 60 bucks and pick up some terrific items (2 sweaters, 2 jackets, and 2 skirts) thrifting and thought I made the best purchase of the year!

MsMary

Veteran

Honestly, a silk Burberry trench is pretty far beyond the pale and you should expect it to attract a lot of attention! Also, are you planning to wear this as an everyday coat? Because to me it looks like an evening/dress-up coat and it would seem odd to me to see it worn as a regular topcoat!

Honestly not trying to be difficult. I think this is a super interesting discussion!

And if you were my daughter, I would tell you I also think that if you are actually telling yourself that you would get more utility from a silk designer trench coat than from a computer you would use for work and/or school on a daily basis, you may well be veering into magical-thinking fantasy-rationalization land. Srsly.

On the other hand, maybe you just plain need to scratch this itch and if you have the cash laying around with nothing better to spend it on (*cough* emergency fund *cough*), what the heck, right?

taylor

Veteran

but Mary, some people think sports cars, 2,000 dollar handbags, cosmetic surgery and fur coats are a gross waste of money and could be better spent elsewhere.
At our age I know you and I don't give a rip if people think we spend our money on things they NEVER would...right? I don't care if people gasp at the price of my trench(es) or handbags, sports cars etc!

gradfashionista

(website)

Veteran

@MaryK: I'm not trying to be difficult, either. As a grad student, all you seed is Word 2007. That can be installed on a $300 netbook!

Yes, it would be an everyday coat. The CS ppl at Burberry said it was high quality, blabla, and that it would protect me from rain. Maybe it's the inability to wear heels/nice shoes that wants to overcompensate and get something nice?

@shoppingisfun: Honestly, I've shopped around for trenches, in store and online, and before I saw the label/price, I was drawn to this coat. It is so fluid and lovely.There was a nice nude cotton sateen coat ($1200), but they've been out of my size for months. I also think the buttons on that coat though, were questionable. The colour/sheen of the coat was what attracted me to it.

MsMary

Veteran

Right, Taylor! I am all about people spending their money however they like as long as it doesn't compromise their basic needs/values. Hell, I spent more than the cost of that trench on Broadway show tickets this week and I feel great about it!

But dissertante has said that one of her values is that she doesn't want to attract attention in her silk Burberry trench, and I'm not sure that's realistic. It is a verra verra attention-getting piece!!

ETA: dissertante, we were posting at the same time! It seems like you are really really REALLY sold on this coat, and if you're happy, I'm happy.

taylor

Veteran

I hear you Mary:)
I will say that Burberry trenches silk or not always attract attention... gotta trust me on this:)

goldenpig

(website)

Veteran

I am not totally clear how you are planning to pay for this coat--I assumed from the way you phrased your original post that you didn't have a job? If you have $$$ saved up and that's where you want to spend it, then by all means no one can tell you what to do with your money! We're only giving advice because you asked for it.

This whole discussion about attracting attention reminds me of the Corporette article on the intern with a Hermes Birkin bag:
http://corporette.com/2010/06/.....0-handbag/
It talks about how it can convey the wrong message that you are rich and spoiled if you are wearing something obviously very expensive at a younger age.

Sylvie

Veteran

I think one of the reasons we're gasping is because a $1700 silk trench is a splurge item for anyone. Unfortunately this particular trench is not a classic item that would last you for years and years. Since it's not that practical, it's really meant for the person who has money to burn on being fashionable.

In contrast, I probably would have voted "yay" if your desired splurge was one of the following

$1100-1500 perfectly fitted, classic, water resistant Burberry Trench
$500 pair of resoleable neutral colored flat boots
$500-$1000 perfectly fitted, lined, cashmere/wool winter coat, again in a classic style that allowed for layering underneath
$500-$750 Leather briefcase/tote that will be used for interviewing and once you are working
Chanel flap purse (high resale value and the style hasn't dated yet)

Obviously take my two cents for what they're worth, as I am a random person on the internet. When you *know* you can use something for years and will easily get the cost down to $1/wear, that's when it's worth it to use your free money.

MsMary

Veteran

Taylor, I can't wait to find out of that's true when I bust out the one I got for $125 at the consignment store this past Monday!

taylor

Veteran

haa! You're killing me:) You will be stopped for sure...just because you are you:)

christieanne

Veteran

I can't imagine still wearing even a classic item that I purchased in 1988. Did just unearth a few things in husband's closet that he wants to wear again (and they are at least that old) but mens clothes are less trendy and he had not seen them (i.e, not bored or tired of them) for at least 15 years.
So my argument would be no even if you love it because clothing isn't really ever an investment.
A really quality watch could last a lifetime I suppose with care.

I would keep looking for something similar and think about what you need fashion wise in next 12 months instead. Money spent isn't the issue so much as really looking long term.

gradfashionista

(website)

Veteran

Well, I don't want to come across at being completely sold on the idea--otherwise, why I would I be soliciting your excellent advice?

When I asked CS about the coat, they said it water resistant. Is that not possible if it's silk?

Thanks for the Corporette link--I'll have a look. I go to a top school, but have been financially independent since I was 18. My students (I'm a teaching assistant) are the ones whose parents are paying for their posh bags/cars.

Wow, fashion is so value-loaded. Ugh. But it's sooo interesting the kinds of assumptions that are made based on how people decide to spend money in general (I'm thinking about Designer vs Apple).

shoppingisfun

(website)

Veteran

I don't know a lot (anything) about Burberry, but would it be possible to buy a more classic Burberry trench on consignment or something? Maybe you could find one at a more reasonable price.

I will say again I have no experience with Burberry in particular. My husband and I both have decent jobs, but I could never justify that kind of expense on a coat! However, I do shop at stores ranging from Target to Rave to Forever 21 to H&M to Banana Republic (I rarely go to stores more expensive than BR). I have bought things at Target that have lasted held up for years, and have a shirt I bought at Rave (similar store to Forever 21) that I've had since 2005. It's not really my style anymore, but I wore it all the time for several years and it's still in great condition. In contrast, I got a pair of jeans at BR that cost $80 (well, I waited for a sale), and they shrunk ridiculously! What I'm trying to say is that lower cost items can sometimes be good quality, and higher cost is not always better.

Also keep in mind that you're purchasing a light-colored garment, meant to be used as outerwear in wet weather. Even if it's the highest quality, how likely is it that it will remain un-stained and un-damaged for many years? Alternatively, will you end up being afraid to wear it because it cost so much, and have to wear a cheaper coat for "everyday"?

Ultimately, it's up to you. If you have the money to burn, why not? But I don't think it's a wise purchase if you worry AT ALL about your budget!

ETA: is there a particular reason you NEED a high quality trench? I mean, people NEED good interview suits and things like that, but is there an element in your lifestyle for which you would need this kind of thing?

Girl X

(website)

Veteran

I say splurge at whatever stage of life you can afford to splurge in. I don't know anything about your finances, nor do I know what your spending norm is for long term clothing, so I can't really say whether the $1700 price tag is ridiculous for you or not. Will a $1700 trench fit into your wardrobe? If the trench gets a snag or a stain, will you be absolutely devastated because of the huge sum of money spent?

gradfashionista

(website)

Veteran

Would a knock-off from a particular populous country be a better option for the same style?

Steph

Veteran

I think that if you love something and can afford it, there is no problem with you purchasing it. For some people, they feel the need to know they would wear something for decades, or that they would wear it every day. For others, they want to have that special piece to pull out on a few occasions. I don't think that any of those approaches are wrong.

What an individual decides to spend her money on is very personal and is going to vary wildly from one person to the next. Some will never spend $1700 on any clothing item, whereas others won't bat an eyelash. Some will make poor fiscal choices and others will always be responsible. It sounds like you can afford this and like you really want it. In that case, have at it. I have purchased several very high quality items that are now about 5-8 years old and I still wear them often. I used to work at a very high paying job, and have switched to something that pays a fraction of what I used to make, and I am constantly grateful that I bought nice clothing when I had the extra cash--I love the pieces I own.

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