Attainable Luxury

By doing your homework and seeking great deals, it’s not hard to live a champagne lifestyle on a beer budget. (Dmitry Lobanov/Shutterstock)

There are two ways to live a lavish lifestyle: Be very wealthy and spend with no regard to price or shop smart and buy right. Of these two approaches to living well, the second one requires more effort but provides a great sense of accomplishment.

(Net Vector/Shutterstock)

Look for Sales

The idea is to buy top quality when shopping for cars, tools, furniture, clothes, and other items, including watches, cameras, computers, or televisions.

The next step is to sale shop. This works at mall stores, mail-order retailers, wine and liquor stores, specialty shops, and more; virtually all retail stores at some point will put items on sale or offer discounts. However, the most efficient way to take advantage of these sales is to discover them prior to going to the store, or in the best scenario, being advised of them in advance by the retailer.

Subscribing to mailing lists from stores that offer high-end products can help eliminate missing out on a sale on items that were already slated for purchase and is a much more efficient strategy than roaming store aisles looking for deals.

“Open box” and refurbished electronics are sold at steep discounts, yet backed by full warranties, making them a smart buy. (Vladimir Sukhachev/Shutterstock)

An easy way to accomplish this is by spending some time signing up for mailing lists and researching loyalty clubs. These sometimes include special discounts for holiday periods and birthdays. It’s easy to unsubscribe from an email list if or when the volume becomes annoying or the items offered are no longer of interest, and ads received in the mail can be tossed away, guilt-free.

Macy’s is just one of many examples of retailers that offer numerous discounts on high-end products ranging from clothing to cookware throughout the year, with many of the discounts compounded by taking part in a store-issued credit card.

When dining at fine restaurants, consider prix fixe meals or join a loyalty program to take part in special menu offerings or birthday/anniversary discounts. (Mirelle/Shutterstock)

Dining Deals

Fine dining represents another opportunity to make money go further. Many high-end restaurants occasionally offer prix fixe specials, in which an appetizer, entrée, and dessert are offered for a set, discounted price, with no substitutions. Most restaurants often offer discounts, especially around holidays but also on birthdays and anniversaries; ask the hostess or server, or explore the establishment’s social media page to receive notifications.

Yet another way to enjoy fine dining for less is to consider gift cards from favorite restaurants, which often are promoted by adding a “free” card for every gift card of a set amount purchased; for example, receiving a $20 card for every $100 gift card equates to an overall 20 percent discount.

Certified pre-owned luxury vehicles with low miles and backed by manufacturer warranties, can be purchased at prices usually associated with mid-level vehicles. (skirgaila photography/Shutterstock)

Just Like New

Choosing open-box and refurbished items represents a way to buy high-end electronics, including cameras, televisions, cellphones, and computers, from local and online retailers at a significant discount. Prior to purchase, review the fine print to determine return or refund options, as well as how and by whom the items may be warrantied. In many cases, these items are in new or like-new condition.

Driving a luxury car or SUV can actually be more affordable than expected when vehicles are purchased through a certified pre-owned (CPO) program. Examples include Porsche, BMW, Cadillac, and other high-end brands. Administered by local dealerships, these vehicles are backed by manufacturer warranties honored across the United States.

Even high-end retailers offer sales and special promotions, during which savvy buyers can buy luxury goods at deep discounts. (kali9/Getty Images)

Fine watches can also be purchased from retailers specializing in pre-owned timepieces that are backed by warranties. Sensing an opportunity, watchmaker Rolex recently initiated an in-house CPO program, offering refurbished timepieces that are warrantied for two years at a discount from new prices.

While buying a curated pre-owned luxury watch is clearly a great opportunity to buy more for less, the concept of pre-owned clothing might be off-putting at first. However, the reality is that quite a bit of haute couture clothing is worn infrequently or even only once. In addition to hundreds of stores across the country selling secondhand items, Goodwill Industries operates several Goodwillfinds stores and a handy online boutique, all devoted to reselling donated luxury goods and designer clothing at steeply discounted prices.

There are also online consignment stores such as Farfetch, which sells luxury clothing, shoes, jewelry, and accessories at prices far below original cost. Items that remain in inventory past a certain set period will be offered with additional discounts. Be sure to research return policies before making any online purchases.

When purchased from a trusted dealer, a pre-owned, fully serviced luxury watch backed by a warranty can be surprisingly affordable. (Zorica Nastasic/Getty Images)

Savvy shoppers can even find unique home items at discounted prices. Habitat for Humanity’s “ReStores“ sell furniture, appliances, and fixtures donated by builders and homeowners. Sometimes, the items are very special, as was the case when the Vail, Colorado, store was given a handmade wooden bathtub and a set of matching sinks. Crafted in Switzerland, the tub alone retailed for $24,000; all three items were quickly snapped up for $12,000.

The bottom line is that, while it’s good to be rich, smart buyers don’t have to be wealthy to live an upscale lifestyle.