Is Cost Effective Luxury Really A Possibility? (Hint: Yes)

Is Cost Effective Luxury Really A Possibility? (Hint: Yes)

If there’s only one thing in this life that’s more enjoyable than living the life of luxury, it’s doing it while getting value for money. Unfortunately, it often feels as though you have to make a decision between luxury and style or cheap, cost-effective living. Thankfully, with a little extra effort, it is possible to enjoy the best of both.

Is Cost Effective Luxury Really A Possibility? (Hint: Yes)

Planning and preparation are key, particularly in terms of acquiring the right mindset. Establish winning strategies, and you’ll be set to live the good life without any feelings of guilt. Whether done out of financial necessity or to gain the emotional benefits that come with merging classy living with cheap living.

Focus on these five areas, and you won’t go far wrong.

1| Upgrading The Home On A Budget

Home is where the heart is, and you deserve to live in a home that you love. In an ideal world, we’d all have the financial power to purchase a 10-bed mansion. The harsh reality is that this isn’t a viable option for most people. The best thing you can do, then, is learn to make your home feel bigger and better than ever.

Given that you’re looking for budget-friendly solutions, one of the best things you can do is take the DIY approach. For the best results, you’ll want to focus on the home additions that are commonly associated with style and luxury. Ask yourself ‘how can I build the best home office?’ and don’t be afraid to convert the guest room or annex.

Is Cost Effective Luxury Really A Possibility? (Hint: Yes)

Perhaps the most luxurious home addition is a swimming pool. Turning an old shipping container into a backyard feature can make a world of difference. Meanwhile, building a simple deck can transform the outside spaces to bring a whole new dimension to the table. The ability to host friends and family, or relax in the luxury of your garden can transport you to a life of luxury.

Not all upgrade jobs can be handled on a DIY basis, and you may need to hire experts from time to time. Still, jobs like going open plan or converting the attic can make a significant impact to the look and function of the property. Meanwhile, the ROI will actively bump up the worth of your financial assets. If that doesn’t signal success, what will?

2| Get Things For Free

When seeking value for money, there’s nothing better than getting things for free. This is nothing new, but the opportunities are undoubtedly greater than ever. This is largely thanks to the internet age, as well as the increased level of competition on the market. Learn to take advantage of both aspects for truly stunning results.

Companies are fighting for new customers, and will run various competitions to build interest in a product or service. These aren’t limited to small items either. The links on the right hand of this site show just some of the prizes that are currently up for grabs online. However, a quick search of Google or following your favorite brands on social media will show more.

Is Cost Effective Luxury Really A Possibility? (Hint: Yes)

The best competitions are the free ones as a few moments of your time could potentially land you a prize worth thousands of dollars. Another option, though, is to get given things for free in return for a review. This can be done via mystery shopping endeavors or through social influencing. The latter has become particularly big business in recent times.

Furthermore, you should always do your research to take advantage of freebies or loyalty schemes. A free accessory can make an outfit feel more stylish while free upgrades on a car can give you the luxurious living you deserve. Ultimately, the worst thing anyone can say is ‘no’. So, it’s always worth posing the questions.

3| Abandon The Ideology Of Needing To Own Everything

Society encourages us to believe that ownership is the only way to truly establish a sense of luxury. However, this could not be further from the truth. In many cases. Abandoning those ideals will actively open the door to new opportunities. While that’s not to suggest that ownership isn’t the best solution at times, finding the right balance is vital.

Leasing and renting products can be a better option in several situations. Car leasing is a particularly popular solution due to the depreciation levels. Besides, most people seeking a luxury vibe will want to change their car every 3 years or so. After all, it’s hard to establish the right atmosphere when cruising in an 8-year-old motor.

Is Cost Effective Luxury Really A Possibility? (Hint: Yes)

Another option is to opt for shared ownership. Condos used for holiday purposes are a common option in this sense. However, if you are financially secure and search ‘how much does a private jet cost?, it may be possible to share with friends. In truth, there is no greater sign of luxury than having access to a private jet. International travel has never looked better.

Co-ownership can also extend to home purchases. By only owning a percentage of the property, you can afford a far bigger property. You’ll still have a chance to build your financial status while a change of circumstances may allow you to purchase more of the home at a later date. This has to be better than settling for a property that doesn’t suit your needs.

4| Prioritize

When thinking about luxury items in our lives, we all have different ideas as to which products are most important. Therefore, one of the smartest things you’ll ever do is take the time to organize your thoughts and work out what’s best for you. Until you do, overspending and wasting money in other areas will influence the more significant areas.

For some, opting for a homebrew rather than the daily trip to Starbucks could be the key to affording a PT. Others will find that upcycling some old furniture enables them to afford better beauty product and clothes. There is no one or right way to do things, other than taking the route that feels right for you.

Is Cost Effective Luxury Really A Possibility? (Hint: Yes)

Prioritizing isn’t only about making your money last longer. We all have time limitations to consider. Whether it’s upgrading the home or treating yourself to luxury purchases, organizing your time is key. Focus on the elements that bring the biggest improvements to your life, and you cannot go far wrong. The final pieces of the puzzle can come at a later date.

Essentially, you do not need to lead the perfect life to make it luxurious. Likewise, you do not need to spend heavily in all areas to feel a sense of class. Sacrificing less important things so that you can enjoy the best parts of life to the max can truly make all the difference.

5| Relocate

It may be a drastic measure, but relocating could be the key to living like a king or queen on a modest budget. The costs of living in many countries is far smaller than it is in the United States, and it could be the best way to start a new life. However, there are naturally many pros and cons to consider, including language barriers and missing family.

Still, selling a modest home here could give you the funds to buy a luxury home elsewhere. Meanwhile, saving hard for a few months could give you the funds to start the next chapter in the best way possible. Just be sure to check the visa requirements and other complexities before committing to the move. Likewise, you may wish to rent until you’re certain about the choice.

Is Cost Effective Luxury Really A Possibility? (Hint: Yes)

The reduced costs of living will naturally be met by lower earning potential. However, online communications make it possible to keep earning big bucks. Working remotely for American clients (even your current employer) you can earn multiple times what you’d earn for the same job in the new country. This can only give you a platform for building that life of luxury.

While this idea certainly isn’t for everyone, millions of ex-pats are currently living in various places across the globe. If it is deemed the right route for you, be sure to do your research into potential destinations. Get this choice right, and the good life will follow.

*This post contains collaborative content.

About Dawn McAlexander

Dawn is a full time travel and lifestyle blogger. Besides Cheap Is The New Classy, she also owns and writes for EatPlayRock.com, an entertainment site. Her interests include traveling, home decor, DIY projects, organizing her home and enjoying a nice cup of coffee {or two}. She currently resides in North Carolina with her dog, Daisy.