7 ways to live luxuriously on a budget

Summary:

• Luxury means different things to different people. It can be about enjoying nice things or simply taking time to relax and treat yourself. 

• With a little creativity and planning, you can enjoy a more luxurious lifestyle while still sticking to your budget.

• There are simple ways to live luxuriously on a budget, like finding seasonal deals or taking advantage of discounts. 

• Renting items or choosing free experiences can also help you enjoy special moments without spending a lot of money.

Many Americans love luxury. The U.S. is a large market for premium goods such as clothing, accessories, jewelry and makeup.

Although the definition of luxury, and living luxuriously, may vary by person, it may involve ignoring your budget and splurging on something special like a pricey handbag, a spa weekend, dinner at a top-rated restaurant or an international trip. 

But you don't need to ignore your budget to enjoy luxury. It’s possible to live luxuriously without spending a fortune.

To marketing strategist Karen Civil, a luxurious lifestyle is “a relaxed one where you are happy and at peace.” She adds, “It’s not just a life with material items, but an overall feeling.”

Consider your definition of luxury and how you enjoy treating yourself from time to time. Need a little inspiration? To help you get started, here are seven ways to live luxuriously on a budget.

If you want to wear the trendiest high-end shoes or play music on the newest wireless speakers, consider product testing. Sign up with a product testing company, and brands may give you products at no cost if you agree to wear or use them and provide feedback. Bonus: You can usually keep the products you’re sent to test, and it’s an easy way to try different brands without the risk of losing money on items you don’t end up loving.

Although it may be a harder gig to get, you can also become a mystery shopper who’s paid to secretly evaluate restaurants, hotels and entertainment venues.

If formal product testing isn’t something you think you’d be interested in, you can still try out high-end merchandise at no cost. To live luxuriously without spending a fortune stock up on free samples, especially for beauty and cosmetics. That’s what Dionne Dean, a stylist, recommends.

“Most high-end makeup counters will give you a sample of their latest beauty and skin care treatment to let you try out the product,” she says, adding that you can ask for up to a week’s worth of samples.

Dreaming of wearing a designer gown or suit to your next big bash, but know the price tag means it’s probably just a fantasy? Consider renting designer clothing from online fashion rental services for a fraction of the retail cost. Rental periods last for different lengths of time, from a few days to several weeks. It’s a great solution if you want a new outfit for the next special event you’re attending, but you know you’re probably only going to wear it once.

One of the most popular ways to live luxuriously on a budget is to look for affordable deals on online marketplaces where people buy, sell and sometimes bid on items.

Dean suggests checking out local consignment shops to find upscale items at budget-friendly prices. “Most luxury buyers consign their like-new items, rather than donate, to reinvest money back into their wardrobes,” she says. “Many times, you’ll be able to purchase the item new, unworn and with the original packaging.”

If you don’t care whether your luxury items are from last season, you can buy high-quality goods without a big budget by visiting outlet stores. Dean says most design houses have outlet stores where they ship their overstock items or pieces from past seasons. Consumers can save up to 70% off retail price by shopping at outlets, she says.

If you want to save even more money at outlet stores, sign up for a specific store’s email list to get alerts for special discounts and events. Dean also recommends befriending the sales staff because they are often the first to know when stores are receiving extra shipments or making markdowns.

There might be a trendy new restaurant that opened up nearby and you’re eager to try it…until you realize the menu prices will take a big bite out of your budget. Some restaurants, however, offer a “prix fixe” (fixed price) menu: typically a three- or four-course meal that’s often less expensive than ordering each item separately. 

You can also visit new spots at lunch or happy hour, when prices may be lower, instead of dinner. Try going with a friend and share one entree instead of ordering two.

If you’re trying to be a frugal foodie, look for budget-friendly food events on social media or through online groups where the members focus on specific activities or hobbies, such as fine dining or cooking. That’s one way Michelle Jackson, who blogs frequently at her personal finance site, has learned to live luxuriously without spending a fortune. With her thousands of dollars in student loan and credit card debt, it’s a necessary way to enjoy fine food without increasing her financial stress.

She attends free tastings as well as blogging meetups each month, where meals from trendy restaurants are often sponsored by different companies. Like Jackson, you can use social media to save money by searching for events in your industry and your area.

By figuring out how to live a luxurious lifestyle on a budget—especially when it comes to dining out and entertainment—Jackson says she shaved $13,500 off her annual expenses while still enjoying the same quality of life.

When you think of ways to live luxuriously on a budget, travel may not be the first thing that comes to mind. Airfare, places to stay, dining out for every meal—it can quickly add up. One of the best ways to travel on a budget is to go with family and friends. You can plan a high-end vacation on a budget when you split the bill for lodging, outings and activities. You’ll also get to share once-in-a-lifetime experiences with the people you love the most.

If you’re traveling solo, you can still find ways to live luxuriously on a budget. Jackson often travels alone. Since she considers travel a priority in her life, she’s found ways to cut costs without sacrificing comfort. She travels off-season (the less-popular times of the year), books hostels or rentals where she can cook and asks locals for their recommendations to avoid expensive tourist areas.

Wellness activities like fitness classes and spa treatments can easily add up if you’re not careful. If you look at the price of one massage, you may even be tempted to think you can’t live luxuriously without spending a fortune. Not so. There are ways to enjoy wellness treatments without spending too much money.

Dean says coupon sites often feature deals from local spas. These are usually introductory offers for first-time customers for a treatment (or series of treatments) at a discount. She says several cities also participate in a spa week or spa month, which includes special deals to get customers in the door.

If your definition of luxury is more about time spent on fitness, you can find deals to help you do just that. Jackson is often able to enjoy complimentary exercise classes with popular instructors thanks to events sponsored by her city and local nonprofits.

Whether you use some new shopping hacks to get your hands on a big ticket item, split the bills for a deluxe vacation rental with friends or find a coupon for a day of pampering at the spa, there are many ways to live luxuriously on a budget:

• Focus on what luxury means to you. Find experiences that feel meaningful, not just expensive. 

• Look for smarter ways to enjoy high-end experiences, like rentals and discounted options. 

• Plan ahead so you can treat yourself occasionally without throwing off your overall budget.

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