10 Questions You Should Ask Before You Buy Expensive Items

Every shopper has a moment in their lives when they feel the need to spend a little more on designer pieces. There are so many beautiful bags, shoes, clothes, and accessories out there. There are some things you need to keep in mind in order for you to make sure you’re spending your hard-earned money for the right reasons. These are the 10 questions you should ask before spending any money.

• Question 1: Do you already have something similar?

First, take a hard look in your closet to see if there is anything that looks like the item you are considering buying. If you don’t know the answer, then move on to question 2.

If yes, you have some work ahead of you. Let’s assume that the item is a black designer cocktail dress. Are there a million other black dresses you like and reach for frequently? You might be tempted to sell your existing black dresses and buy a new one. Why? It’s because it’s a well-known fact that the more clothes you have, the less you will wear.

• Question 2: Do you love shopping?

This is a huge one, ladies. We don’t condemn you for buying things that you don’t really need. But we do suggest that you think about whether other pieces in the same fashion line might be worth your investment.

Consider this example: What do you think about the Celine bag you bought for $3,000? Will you stop buying other bags, no matter how trendy or cheap, in the next year or two years? If someone purchases a new car or house, they won’t purchase a bunch smaller, more affordable houses and cars in the months that follow. For fashion items, we like to apply the same mentality. You might not be able to afford a high-end bag if you already have a lot of bags.

• Question 3: Is this going to cause me problems?

Another thing to consider: Will the high-priced purchase create real problems down the road? So, does the Isabel Marant boot set you back enough to pay your student loan or phone bill? It’s best to let them go for now and save a little each month until you can afford them.

• Question 4: Would the label still suit my taste if it was removed?

It’s almost a given that fashion lovers will sometimes be inspired by Sybarites. There’s nothing shameful in that. Most designer items are gorgeous. But if you buy designer goods just for the label, and the item doesn’t suit your tastes, then isn’t that ridiculous?

• Question 5: Would I want it if instagram didn’t exist?

It’s not fair to assume that you would buy expensive items just so others know, but this is the world we live in. Do you love the Balenciaga bag? Or do you just want to let others know that you own it?

You might be able to enjoy designer shoes if you don’t post them on social media. You might need to think about the possibility.

• Question 6: Is it an impulse purchase?

Today’s world, like social media, is flooded with flash sales, online promotions, and other deals. These can be great if you are in the market for something. However, they can also be dangerous for casual shoppers who, when she woke up this morning, didn’t know she needed or wanted a Phillip Lim blouse for $600 until she received an email stating that 20% was available.

You can buy designer jeans if you happen to see them on Gilt or at 30% off at Barneys. If you aren’t willing to spend $500 on a pair you haven’t seen before, it might be worth taking a break from the computer and returning to the item once your dopamine levels drop. Most impulse purchases end up leading to buyer’s regret.

• Question 7: Can I use it realistically often?

While it is fine to treat yourself to some special-occasion items from time-to-time, it’s important that you calculate the cost per use for expensive purchases. This is especially true if the item doesn’t fit your lifestyle.

Are you a pre-school teacher that would never wear heels to school? Manolo Blahniks might not be right for you, but they are worth $600. Are you an attorney working for a conservative firm or a general practitioner? The boldly printed Kenzo suit will not get much use. You don’t need it.

• Question 8: Do I buy because [insert street style star/blogger here] bought it?

Street style enthusiasts know that certain people are simply the best. But just because Miroslava Duma or your favorite blogger wore Valentino, Stella McCartney or Miu Miu–or because they were in New York Fashion Week, isn’t an excuse to spend more on the same clothes.

Remember that many big street-fashion editors and bloggers are given designer clothes for free in order to encourage people like you to buy them. Some people are richer than we and they travel the globe in designer clothes. It’s a fun thing to see, but not something you can do.

Instead, look for lesser-priced versions of the things you love from street style stars and put your own stamp on them. Only splurge if it’s something that you truly want, not something you want to copy.

• Question 9: Is it possible to get it cheaper?

It pays to do some price shopping before making a big purchase. Check out boutiques and department stores for current items. Call your local consignment shop or browse eBay, Etsy and Craigslist for vintage or discontinued items. Shop it to Me is a site that searches the internet for any discount for brands you select, but only if it’s something you truly want. These are 10 places where you can find designer bags at a fraction of the price

• Question 10: Is it a one-season wonder item?

Let’s be honest: Not every spurge should be a “classic” item that will last forever. (Where’s the fun? However, we think it silly to spend a lot on something that is so obvious the “it” item in one collection e.g. Alexander Wang’s $1000 Parental Advisory sweatshirt or Givenchy’s $900 floral Birkenstock slides)

Why? There’s a good chance you will feel like your spending spree was partly due to the desire to have something that is immediately available, rather than something that you adore.