Spending Money in Las Vegas – Eat, Play, Sleep?

Written by WellHeeled on February 1, 2012 · 14 Comments

I’m heading to Las Vegas this month for a mini-weekend getaway (pulling kind of a #8). Las Vegas has so much to offer tourists - whatever you like, you can probably get it in Sin City. But if your budget is not unlimited, you’ll have to choose what’s on the top of your priority list. So what do you spend your money on? Do you like to eat (try out new restaurants and buffets), play (gambling & shows) or sleep (hotels)?

Eat

I had a few friends who went to Vegas to specifically have dinner at Bouchon at the Venetian. With entrees hovering around the $30-$40 range, it’s the place for folks who like to eat! There are great restaurants inside all the casinos – in fact, I’d say Las Vegas has highest concentration of high-end restaurants all along one street. Where else can you walk from Tau to Guy Savoy to Nobu in less than 10 minutes? But even for someone who loves food as much as I do, I can’t bring myself to shell out the big bucks. I love food, but I feel that I can get better food, for cheaper, in Southern California than I can in Las Vegas. When I travel, I like to try the local specialities of the place , but there’s nothing that particularly pulls my attention to Las Vegas. Or rather, because of my budgetary concerns I refuse to let myself be swayed! So perhaps I’m just a fox crying sour grapes!

Play

If you want to party it up, Las Vegas is the place to be. I was comparing notes with a friend who goes to Vegas quite often about what we like to do and how much we spend, etc. It turns out that she usually stays at Imperial Palace, whose location on the Strip and price outshine its amenities. But that’s OK, because she spend only a few hours in her hotel room while she’s in town. The rest of the time she is dancing up a storm at all the hottest clubs. Cover charges and drinks range from $20/entrance to $60/entrance. If you want bottle service, that can set you back $1,000-plus. If you are a group of girls, my friend has informed me, you can into clubs free or for a discounted rate.

Sleep

So if I don’t spend my money on food or entertainment, what DO I spend on? Apparently, I am an 80-year-old stuck in a twentysomething’s body, because more than anything else a nice hotel to rest in is my priority #1. Las Vegas hotels give you the biggest bang for your buck. Because they can count on gaming revenue, the 5-star and 4-star hotels are often cheaper than comparable hotels in any other area. As long as I don’t go during New Year’s Eve or Super Bowl Sunday, the prices are usually very reasonable.

Case in point: the Four Seasons in Las Vegas cost $234/night for a Superior Room on a weekend in April, but the Four Seasons in Santa Barbara cost $605/night for a Superior Room on the same weekend! (Now you understand why we are high-tailing it out of Santa Barbara right after the wedding reception).

So that’s what I spend most of my money on in Las Vegas – the hotel. The other things – eat and play, I try to do on the cheap. We walk around taking in the night lights. I’ve wanted to see a Cirque du Soleil number but never could pluck down the money for tickets. Instead, we watch the free pirate show at Treasure Island. We try to fill up on a buffet and then have dinner at mid-priced restaurants such as Noodles in Bellagio, where we can get a big steaming bowl of beef noodles for $10/person. When we lounge in the hotel room, it’s truly enjoyable. I watch HGTV, take naps, hang out in the casino for a little bit of slot machine action before we go back to the comfort of our room and lounge all over again.

When I compare notes with my friends, many times we spend about the same. I may sleep on expensive sheets, another friend will have seen Cirque du Soleil, and another have sampled the finest meals at all the restaurants. That’s what’s so great about personal finance – different strokes for different folks!

What you go to Las Vegas, what’s your spending priority? Eat, play, or sleep? (Or are you a high-roller that goes all out on all 3 elements?)

Categories: Holidays, Luxury

Save vs. Splurge for Wedding Night Hotel

Written by WellHeeled on January 26, 2012 · 23 Comments

What do you do when you realized that you picked a really popular area to get married during the start of the tourist high season? I find myself in that position, as I scour the interwebs for a hotel for our wedding night / mini-moon. It turns out that Santa Barbara - one of my favorite cities in the summer, while a lovely place to get married, is also extremely pricey if you want to stay in a nice hotel to celebrate the start of that marriage. All the hotels and bed-and-breakfasts that come highly-rated cost at least $250+ a night, plus taxes and fees. The places that are a little cheaper, at between $150-$200, have some fairly uncharitable reviews that give me pause. There are some lower-end motels or hotels that are around $150, but I am not THAT frugal.

Still, as much as I enjoy a luxury hotel stay (I do), and as much as I understand that weddings / honeymoons are probably not a time to skimp on accomodations (I do), it pains me to think about spending $300+ when I’ve stayed at gorgeous properties for half that price. On the one hand, I suppose it’s better to just spend a little extra to guarantee a good experience, but on the other hand, it’s so much money. Thus began an internal battle between the personal finance blogger and the bride-to-be.

But then, inspiration! I started looking outside Santa Barbara… and found that by staying in a seaside town a few hours north instead of the seaside town where we are getting married, we will save up to $100/night for a hotel of comparable quality. Instead of $250/night, we can pay $150/night. Three nights stay means a saving of $300, which will be enough to pay for some horseback riding, a nice dinner, and event a jaunt to the Hearst Castle. So here’s our plan: after our day-time wedding, we are going to drive up the Pacific Coast Highway and check into our hotel for a 3-day mini-moon before our official honeymoon to Buenos Aires the week after.

What would you have done in my case? How much would you spend (or have spent) on your wedding/honeymoon hotels?

Categories: Love, Luxury

Are Travel Flash Sale Sites Really Cheaper? Do Your Homework Before You Buy

Written by WellHeeled on January 11, 2012 · 8 Comments

As someone who (1) loves to travel, (2) enjoys luxury, and (3) has a budget, I was so happy when travel flash sale sites started popping up a few years ago. These sites host “flash sales” on hotels, cruises, vacation packages, or even airfare. The sales last for a few days and is often final sale, and in exchange consumers are supposed to get a deal that’s much better than what is available on the travel vendor’s own website. But don’t assume that you are automatically getting the best price. In some cases, you won’t be saving money going through travel flash sale sites – you’ll actually be paying MORE by going through a flash sale site.

Case in point

Last night, I was looking up hotel options for our honeymoon to Buenos Aires, Argentina. Jetsetter, Gilt.com’s travel site, features several hotels in the city. Palermo Place caught my eye – Jetsetter offers me a price of $235/night rack rate. Sounds pretty good, right? The picture below is of Jetsetter’s checkout page – as you can see, 4 nights over a weekend in May will cost $1,132.

But wait! On Tripadvisor.com, Palermo Palace is advertising a 30% off special, which would make it cheaper than Jetsetter. So I input the same dates, the same room type, and same number of nights at the hotel, and it turns out that booking directly with the hotel would only cost $796, $300+ cheaper than the Jetsetter price. $300 is no chump change, especially in Buenos Aires where it’d be enough for several very nice meals, a bunch of leather souvenirs, and more than a couple private tango lessons!

So this is what I’ve learned - always, always do your homework. It is easy to assume that travel flash sale sites have the best deals. After all, that’s what they are there for. But it only takes a few minutes to do a quick search on the Tripadvisor, the hotel or cruise website, and Google. You might discover that the so-called deal isn’t that great of a deal given what other discounts or specials are out there. Or, you might confirm that it is truly too good to pass up (our proposal weekend bed & breakfast was $149 on Living Social Escapes but $280+ on the hotel’s website). In that case, click buy and enjoy the trip!

Do you use travel flash sale sites? Have you found that they are more or less expensive than other sources?

Categories: Luxury, Travel - Tags: vacations

My Holiday Splurge

Written by WellHeeled on December 27, 2011 · 9 Comments

I hope everyone had a Merry Christmas / Happy Hanukah / wonderful holiday celebration! I didn’t step one foot into a store this weekend, but unfortunately (or fortunately), the easy access of online shopping meant that I’ve made a few holiday splurges. I’ve said it before.. there is something about the holidays that make me loosen my wallet, without fail. According to news of the retail sale jumps and credit card usage increases, I’m not the only one buoyed by the spirit of the season to spend a little (more).

Thanks to a Christmas bonus and Mom’s birthday gift, I found myself in possession of an unexpected $700. Thanks to this boon I went a little crazy with the buying. In addition to a couple of dresses for work, I got a Linea Pelle overnight/weekend bag. The Dylan 24 Hour Overnight Bag retails for $595, but now that it’s out of season I’ve seen it marked down to $300+ on eBay. In a stroke of luck, I found it for just $139.99 plus $10 shipping on Ideeli.

It looks great online, and I’ve heard that Linea Pelle has gorgeous leather, so I am definitely excited about this “gift to myself”. $150 was near the top end of what I would be willing to spend on a bag, but I thought this was too good of a deal to pass up (yes, I actually thought that – too good a deal to pass up! No, please don’t kick me out of the personal finance blogger club). Now I can travel with a little more panache than just with my $10 duffel bag from Ross.

What was your biggest splurge this holiday season?

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Categories: Luxury, Shopping

My Wedding Splurge: I Said Yes To The Dress

Written by WellHeeled on November 21, 2011 · 40 Comments

I said yes to the dress

I have a confession. This weekend, I handed over my American Express card and signed off on a $600 wedding gown purchase. As you may remember, I have a perfectly fine dress that I got for $66(!) at a Nordstrom Rack. But somehow I decided to say “yes” to a complete splurge dress with a price multiplied by 10. I don’t want to put a picture of the dress on the blog, but if you are not the person I am going to marry next year, you can see it here.

Randy, unfortunately, could not make it to my bridal appointment. What a shame!

This means our wedding budget is increasing. I will need alterations. I will need to sell my other gown. Wedding budgeting brings out very conflicted feelings inside me. On the one hand, I want to be prudent and responsible with the spending. And plus, weddings are one of the most judged expenses around. Try as I might, I think I have internalized some of that judgment / self-criticism. On the other hand, this is One (Very Special) Day. I want to look and feel my best, and I do feel more bridal in this dress than in my lovely $66 sheath. (I think Randy would have approved).

The splurge and the aftermath

All day after the bridal appointment, I felt a little guilty. I didn’t try my best to get the best deal for the dress (basically paid the list price). I could have gotten it cheaper from used dress sites or on Craigslist, but I couldn’t find a petite length one, so I decided to just bite the bullet and order at the store. There are so many beautiful dresses online for much cheaper, but I didn’t go that route because I really wanted to try something on before I made my purchase.

$600, in the grand scale of things, won’t make or break my finances. I can afford this dress, but the nature of weddings is that folks can always afford the individual elements. It’s the total, combined number that threatens to shock you if you don’t carefully monitor the budget. Speaking of which, I do not want to think about the total, combined number. Now that I got a nicer dress, I also feel compelled for us to up CB’s suit budget. Because, let’s face it, he will get much more use out of his wedding day attire than I will mine.

I am not exactly sorry I bought this dress, because it is beautiful, and I felt beautiful in it. I am aware that if this dress were any color but white and were labeled a long evening gown instead of a “wedding dress,” it would have cost 50% less. But life is just too short to always stress about if I got the absolute best deal or if the Wedding Industry is getting one over me. The bottom line is that I can see myself walking down the aisle in this dress – happy and glowing – and I’ve made my peace with the price.

So there is my wedding splurge. It’s an indulgence, but what a beautiful, lacey, delightful indulgence it is.

image source: Randy Fenoli via gettingmarriedonlongisland.com

Did you splurge on your wedding gown? If you are not yet married, do you think you will splurge on the dress? And most importantly, how much do you love Randy?

Categories: Luxury, Spending - Tags: all things wedding

Do We Need a Wedding Videographer?

Written by WellHeeled on October 6, 2011 · 49 Comments

A year ago, I didn’t even know that wedding videographers existed. When someone talked about wedding videos, I thought of the wobbly shots captured by Dad or Uncle Bob with a handheld recorder (in my mind, this recorder would be from the mid-90s because I don’t think my family has upgraded our recording arsenal since then).

Shows you how much I knew! Now that I am deeper into the wedding planning ~~madness~~ process, I am starting to wonder if I need a wedding videographer. On the one hand, videographer = lots of dough. I don’t know if we want to ~~stretch~~ blow up our budget. Even a beginner will cost $1,000 or more. Professionals whose clips I’ve loved cost upwards of $3,000.

On the other hand, will I regret not recording at least the ceremony? Wouldn’t it be nice to hear our voices say our vows? More morbid… wouldn’t it be nice to have family’s images and voices captured for posterity, after their passing? A wedding is one of those rare occasions when everyone we love is there and dressed up and happy, and in 10 or 20 or 50 years, will I look back and regret that we did not have wonderful videos of our parents?

The third option, CB suggested, is to have a friend or family member man the camera. Won’t be professional, won’t be artistic, won’t be thousands of dollars. And we’d have those memories preserved on tape.

The internet has not been helpful, because all the answers to my Google query “Do we need a wedding videographer” comes back a fairly resounding “yes.” Most of those links are from wedding videographers. So just a slight bias there.

I’d love to get your feedback.

Did you have a professional wedding photographer? Did you regret your decision either way?

Categories: Budget, Luxury - Tags: all things wedding

Wedding Flowers: I Dream of Peony

Written by WellHeeled on September 24, 2011 · 16 Comments

When I first got engaged, I was completely cool and collected and budget-savvy about wedding flowers. After all, why pay a load of cash for something that will look pretty for a few hours before drying and browning as flowers are wont to do?

Perhaps I was a touch over-confident. While scrolling through some wedding websites today, I happened upon pictures of pink peonies. Just look at this beautiful bouquet (via The Knot).

All of a sudden, I went from “don’t care about flowers” to “must have peonies – fields of peonies.” Lush, romantic, and fragrant, the peony is an important flower in my country of origin. We are not incorporating any of my heritage into the wedding (no tea ceremony, for example), so peonies would be a nice touch, even if no one else sees anything but pretty blooms. Everything I’ve read about the flower makes me love it more.

Everything, that is, except the price. As I’ve learned in my crash course into peonies, this flower only blooms from late April to early June, and can cost up to $12 per stem because of its limited supply and popularity with brides. I am getting married in early June, so I should be at the tail end of the peony season. If I’m lucky, Trader Joe will sell a bouquet of 5 stems for $7 or $8.

So the plan is this: I am trekking to the LA Flower District the day before the wedding. I am going to have with me $200 in cash, a couple of friends, several buckets, and a cart. And I am going to pick out cabbage roses and peonies in shades of pink, dusty rose, and mauve. At the very least, I’m going to get enough peonies to make the bridal bouquet!

Categories: Luxury, Spending - Tags: all things wedding

Would You Sell Family Gold Jewelry for Cash?

Written by WellHeeled on August 29, 2011 · 29 Comments

The price of gold has grown by leaps and bounds over the past couple of years. In fact, this precious metal is sitting pretty at $1,800 per ounce right now, compared to $1,000 per ounce two years ago and $1,400 per ounce six months ago.

Many folks with old gold jewelry have already cashed out their cache of necklaces, bracelets, and rings. The ever-higher prices are sure to tempt those who haven’t.

My grandmother gave me some pieces before she fell ill – a gold bangle, a few old coins, a chain. She grew up in a wealthy family and these jewels were part of a much larger dowry. During a civil war in her home country, she dumped loads of precious gems into the rivers so that her family wouldn’t be lynched by the mobs. Sometimes, I imagine what treasures must lie at the bottoms of these rivers, covered with decades of mud and silt. These few gold and silver items were all that my ancestors managed to save, all at enormous personal risk.

I am not normally sentimental about jewelry, and her jewelry certainly aren’t really my taste (nor do I have use for such nice pieces). The rational thing to do would be to take advantage of the historic run-up in gold prices, send in the bangle and chain for cash, and then maybe use the money for graduate school. Somehow the rational thing feels like the wrong thing to do. I don’t need the money desperately, and I like the fact that I have something that is a piece of my family’s history. It makes me sad to think of the jewelry, so carefully protected and hidden, melted down. So, for now, I am holding on to everything.

Would you sell, or have you sold, gold jewelry for cash?

Categories: Economy, Life, Luxury - Tags: consumer behavior

Buying An Engagement Ring from Costco

Written by WellHeeled on August 1, 2011 · 20 Comments

When it comes to buying an engagement ring, future grooms and brides have so many options: retail jewelry store, online merchants, local shops, Etsy sellers, etc. But – I’m guessing – not many people think of Costco when they first embark on the ring shopping journey.

My ring is from Costco, and after interviewing (i.e. hounding) CB with questions, I’ve put together a guide for on how to buy an engagement ring from Costco. In case any residual snobbery lingers, Costco sells nice rings, ranging from “pretty” to “must-mortgage-first-born“. In fact, the lowest priced engagement ring I can see on the website is around $2,000. While you won’t get white-gloved treatment or a fancy box, you just might end up with an elegant ring at a better-than-retail-price.

1. Check out Costco.com to see a portion of what’s available. The website offers engagement rings, solitaires, wedding bands, diamond bands, etc. You can buy the rings online and shipping is extremely fast. As you can see from the two pictures, Costco offers a fairly diverse set of rings. If you like something that has a more vintage feel, Costco has something for you. If you want the clean lines and cool sparkle of a solitaire, that is available too.

2. Each Costco store location has a different selection of rings. So, if you live in a metropolitan area within driving distance of several Costcos, try to hit up all of them. The stores also change their offerings periodically. At the jewelry counter, ask the store employees to remove the ring for a closer look.

3. Costco has a very generous return policy, and rings are no exception. According to CB, a store clerk told him that as long as the buyer has the original appraisal and is in good condition, the ring can be returned at any time. I wouldn’t try my luck with a 5-year-old ring… but a year is definitely reasonable. Beware: if you alter the ring (i.e. resize it), it wouldn’t be eligible for return.

4. Costco does not offer resizing services, and many rings may only come in one size or in limited sizes. Also, you cannot customize your ring (i.e. swap out platinum for white gold or get a 0.75 carat in place of a 0.8 carat). If you want to resize your ring, you will have to seek out a local jeweler. Many rings only come in a size 7, and others only come in sizes 5, 6, 7. It’s not a big deal to resize, though. Most rings can be safely resized 2-3 sizes down with a skilled and experienced jeweler.

5. When you buy a ring, you will receive the ring, the box, the receipt, and an appraisal that includes the appraised value of the ring and a description. The appraisal can be used for insurance purposes. My ring was appraised by a gemologist who graduated from the GIA (Gemological Institute of America), however, this does not mean that the ring itself was certified by the GIA. This may or may not matter to you.

Costco does sell some rings that are certified by the GIA: rings with diamonds that are greater than 1.25 carats come with a GIA report and an International Gemological Institute appraisal.

6. Costco’s diamonds are in accordance with the Kimberly process.

7. Remember, Costco in-store only accepts debit cards or American Express credit card, so make sure you have those methods of payment.

For more information, check out Costco’s jewelry PDF.

Image credit: costco.com

Categories: Luxury, Shopping - Tags: all things wedding

Giveaway: Pearl Earrings from Pearls of Joy

Written by WellHeeled on July 25, 2011 · 53 Comments

Updated Ways to Enter! (as of 7am PST)

Newsletter sign up: http://www.pearlsofjoy.com
visit the website and comment on which is your favorite product – please leave a link

I am a big, big fan of pearls – nothing can look so beautifully classic as a strand of pearl necklace or as elegant as a pair of pearl drop earrings.

That’s why I’m so excited to announce a giveaway sponsored by PearlsOfJoy.com, an online merchant that specializes in pearl jewelry for much cheaper than retail. The company also offers free Fedex shipping and 90-day return period! If you are in the mood for a pair of earrings (for yourself or for a special lady in your life), this contest is for you.

The Prize: 14K gold pearl earrings (choice of white, lavendar, or pink for the winner):

Mix the look of contemporary and classic with these stylish, freshwater pearl hoop earrings. The pearls are suspended from 14K gold endless hoops, and are nearly round and have little to no blemishing. Available in only AAA grade quality, and sizes ranging from 6-9mm. All of our pearls are paired by hand to assure the highest quality of matching for our earrings. Our earrings are securely mounted by hand to solid 14K white or yellow eyepins. Hoops measure 3/4″.

This pair of earrings cost $109 on the website and is valued at $400+.

Here are 4 ways to enter:

Like Pearl of Joy on Facebook: http://www.facebook.com/pages/PearlsOfJoycom-Pearl-Jewelry/128681617198279
Follow Pearl of Joy on Twitter: http://twitter.com/#!/PearlsOfJoycom
Leave a comment here and tell me what you love the most about pearls
Blog about this contest and let me know in a comment

Please tell me exactly how you entered in the comments, so I make sure to count all of your entries.

The contest ends Friday August 5. The winner will be announced on Monday August 8 and must claim the prize by email within 48 hours. Good luck!

photo credit: PearlsofJoy.com

Categories: Blogging, Luxury - Tags: win free stuff

Emma Stine $25 Gift Card Giveaway

Written by WellHeeled on May 24, 2011 · 18 Comments

Raise your hand if you like beautifully designed jewelry at affordable prices.

Raise your hand if you like a $25 gift card to make the jewelry EVEN MORE affordable.

That’s where Emma Stine comes in. Ever since I found this jewelry company through fashion blogger Style Pint’s review, I can’t stop browsing the website. Disclaimer, I have never purchased anything from them before – I asked for a giveaway for you guys instead. That’s why I’m so excited that one reader will get $25 towards the purchase of a shiny new piece of jewelry. Please note, only readers in the U.S. are eligible.

To enter:

Leave a blog comment with the link to your favorite piece of jewelry on Emma Stine’s website.

Additional entries:

1. Twitter: Tweet this post: @WellHeeledBlog is giving away $25 Emma Stine Jewelry Gift Card http://tinyurl.com/emmastine

2. Facebook: One entry for a post on your wall with a link to this giveaway: WellHeeledBlog is giving away $25 Emma Stine Jewelry Gift Card http://tinyurl.com/emmastine

3. Blog: One entry for a post about this giveaway

Please leave the links with the additional entries in the comment so I can count them.

The contest ends Thursday June 2. Winner will be announced on Friday June 3, and will have 48 hours to email me and claim the prize.

Categories: Beauty, Luxury - Tags: win free stuff

The Engagement Ring: Do you know how much he spent?

Written by WellHeeled on April 28, 2011 · 82 Comments

CB and I are pretty open about our finances. We share our goals and make saving a big priority. I have learned, however, that openness has a limit – CB absolutely refuses to tell me how much he spent on my engagement ring.

Okay one more ring shot! (I actually can’t wear the ring yet because it has to be resized and insured. So please indulge me my pictures.)

On the one hand, I’m really curious – and a little scared – of how much he spent. On the other hand, I am also relieved because I can just go on enjoying my beautiful ring without feeling like we should have saved the money for something else.

Here’s what I do know: CB got the ring at Costco – woohoo! – and that the price fit into his budget and he paid for the ring with cash. That makes me happy. He drove to Costcos all over town trying to find something that he knew I’d like but that he also found pretty (I wouldn’t say that we have the exact same taste when it comes to rings). The fact that he put so much time and energy into picking out a ring that I love, all by himself, makes me very happy.

I’ve talked about my interest in nontraditional engagement rings. I had thought that we were picking out my ring together, so when I was looking at rings I concentrated on mostly moissanite and gemstone rings under the $1,000 mark.

So, I feel a little guilty about the money. But call me a hypocrite because, well, I adore my very traditional diamond engagement ring. I love the bezel setting. The milligrain edging. The pave diamonds. I’ve never worn a diamond before, and wow, does it sparkle. In fact, I love this ring so much that I have decided I will keep it as my only ring. It can double as my wedding band. Plus, no need to buy an additional ring.

Ladies, do you know how much your ring cost? Do you WANT to know? Also, does anyone wear only their engagement ring, no wedding band?

Categories: Love, Luxury, Spending - Tags: all things wedding

Small Frivolous Purchase Is the Ultimate Pick-Me-Up?

Written by WellHeeled on February 28, 2011 · 19 Comments

Last weekend while strolling through an Urban Outfitters, I spied a rack full of belts on sale. One of them, the Ecote Sparrow Stretch Belt, caught my eye – it fits very well, and has an interesting hardware detail that I haven’t seen anywhere else. And, it was only $10 on sale (marked down from $24, the price still in effect online). So I got it. It’s a great belt, and I have already worn with the dresses and cardigans (cinching the waist – see, I AM learning from style bloggers!). Yes, it has only been a month and I have already broken my No Accessories Rule I’ve set out in my stab at minimalism.

Later that day I was chatting with a girl friend, and she asked me how my day was. I told her I bought a new belt, then I added, “$10 isn’t too much to pay for happiness.” I meant that tongue-in-cheek, but a little part of me realized that it’s true – buying the belt really did bring a jolt of happiness. ecote sparrow belt 2 Small Frivolous Purchase Is the Ultimate Pick Me Up?

Why do these little purchases make us happy? Before anyone say it’s a phenomenon limited to women, I know that when CB is feeling down, a $10 DVD is a little pick-me-up for him. I think most people use these small, arguably frivolous purchases as pick-me-ups. I may prefer a used book, a tube of lipstick, or a package of cookies; someone else might want a cheap bottle of wine or 5 songs from iTunes.

Dave Bach would cringe at this “Latte Factor”, but I don’t really feel compelled to stop these purchases. I am not sure what it says about my personal finance discipline or lack thereof. I arrange my finances by making the high-impact decision once (maxing out my 401K, for example), so I can have room to enjoy these small indulgences and still meet my goals. Still, there is something vaguely disconcerting about shopping to feel happy.

Do you make these small purchases? And do they make you happier?

Photo courtesy of Urban Outfitters

Categories: Luxury, Shopping, Spending

Non-Traditional Engagement Rings

Written by WellHeeled on January 8, 2011 · 77 Comments

Nope, I’m not engaged! But I will be.. sometime. When we do get engaged, we will be picking out the ring together. Like many women, I always thought of a colorless diamond solitaire as THE default / traditional engagement ring.

I’ve mentioned before that I’d rather have a great trip than an engagement ring. Then my friends started getting engaged (one in particular has an especially gorgeous ring!) and I was surrounded by diamonds. What’s wrong with having a great trip AND a ring, right? In a moment of bling-induced weakness, I told CB that, er, perhaps I DO want a diamond. I believe my exact words were: “I know I am a sucker for all the marketing, but they are so shiny…”

Say what you will about the diamond industry and its many problems (and let’s be honest, I don’t think mining for any type of gemstone is sunshine and roses), DeBeers is a branding genius and market maker and credit must be given where credit is due. Diamonds are fiery, precious, and hard enough for every day wear, and just beautiful from an aesthetic perspective.

Upon closer reflection, however, I realized that while I like and appreciate diamonds, I just don’t want a diamond enough to spend $5,000 or $6,000 it will take to get something that we like or to spend $1,000 and get a diamond of lower quality. A little voice inside me says, “$6,000 amortized over 50 years of marriage (optimistic one, aren’t I?) will be just a little more than $100 a year! So if you really want a diamond, go for it.” Then another little voice chimes in, “but do you really, really truly deeply do want a diamond?”

Once I started to move beyond the “diamond = engagement ring” paradigm, I started thinking about something a little bit more nontraditional. For example, how about something colored AND not a diamond? When I was growing up, ruby was my favorite gemstone. Red is my favorite color, and is, conveniently for me, also the color associated with love. When started googling ruby rings. I’ve found a picture of the ring I really like (see above): a large ruby surrounded by a halo of smaller diamonds. Best part is, many gemstones can be created in labs, which means they are cheaper than mined stones and free from the ethical issues that might arise with mining.

I am not 100% confident, but it’s looking more and more likely that I will be sporting a nontraditional engagement ring.

Do any of you have a nontraditional engagement ring? (i.e, a color gemstone or a non-diamond engagement ring?) How did you come to that decision? Have you regretted not getting a diamond?

Categories: Love, Luxury

J. Crew Double Cloth Lady Day Coat is calling me

Written by WellHeeled on December 29, 2010 · 16 Comments

I haven’t seen much that has caught my eye during this round of post-Christmas sales, but I do like J.Crew’s Double Cloth Lady Day Coat very much. And, it’s still available in my favorite shade, Dark Plum. (It appears that every December, I am tempted by J. Crew’s offerings).

Here is what J. Crew says about this coat:

A feminine, flattering silhouette with a beautiful drape. Distinctly textured wool/nylon from Italy’s Manifattura di Carmignano mill, known the world over for its exceptional woolen fabrics. The mill’s double-cloth is one of our all-time favorites, and you won’t find it anywhere else—Manifattura di Carmignano makes it exclusively for J.Crew. Rounded collar. Long sleeves. Inset waistband at high waist. On-seam pockets. Functional buttons at cuffs. Repp-stripe tie-silk piping. Fully lined. Hits above knee. Import. Dry clean. Catalog/jcrew.com only.

It is listed at the sales price of $238. Then, there is the 30% off Final Sale, bringing the total down to $166.60, which will quality for free shipping. Add in taxes, the total would come out just a shade under $185.

But, do I really need a coat now? And should I get on for Final Sale, without possibility of exchange / return if the sizing doesn’t work out? My head says no. But my shop-happy heart says yes…

With any luck, it will be sold out soon and the decision shall be made for me.

Categories: Luxury, Shopping

Chocolate Will Be As Expensive as Caviar in 20 Years

Written by WellHeeled on November 11, 2010 · 24 Comments

Remember my chocolate budget? Well, I better start saving much more money because in 20 years, chocolate is going to skyrocket in cost. According to a chilling article by Gizmodo, the world is running out of chocolate!

At the rate we’re going, chocolate is going to be a rare—and extremely pricey—commodity within the next twenty years.

What will the shortage mean? $11 Snickers bars, sooner than you think. Pretzels given out for Halloween. Or more candy made from carob, a poor substitute for the sweet and sticky real deal. And a tectonic shift in how we view our mochas, according the Nature Conservation Research Council’s John Mason:

“In 20 years chocolate will be like caviar. It will become so rare and so expensive that the average Joe just won’t be able to afford it.”

Imagine all the things that would be affected by this shortage: hot chocolates, s’mores, mochas, Spanish mole dishes, Hershey’s Kisses, chocolate croissants, brownies, chocolate cupcakes….

I wish I had something more cogent to say about this shortage, something about market pricing or consumer behavior. But all I can say is…

NOOOO!

Categories: Food, Luxury

Sushi: An Expensive Culinary Habit

Written by WellHeeled on June 9, 2010 · 30 Comments

I am far from the suavest of sushi aficionados (try as I might, the most adventurous I get in terms of raw fish is with tuna sashimi, and I love rolls). Even at a more pedantic level of enjoyment, however, sushi is an expensive culinary habit.

Case in point: Last Saturday night CB and I went to a new sushi restaurant that had gotten rave reviews from my friends. The place did not disappoint and was entirely reasonable for a nice Saturday evening meal. Still, for two people, with no drinks, the total tax & tip came out to $50 for three specialty rolls (with all of my favorite ingredients – spicy tuna, unagi, crab, roe, avocado, cucumber, tuna, and salmon), and a bowl of green tea ice cream. The food was beautifully presented and delicious, the service was friendly, and the atmosphere cozy.

It was a wonderful dinner, and I view our $50 bill as money well spent. After all, sushi are truly works of art – it costs money to prepare the labor-intensive dishes and to purchase high-quality fish and other seafood. At some other restaurants, the cost of sushi can go as high as your wallet will expand (or is it contract?). I doubt that I will develop the sense of adventure or sophistication necessary to truly enjoy sea urchin, squid, or octopus sashimi. I do know, however, that I’ve graduated from $5 spicy tuna rolls at the mall sushi shops, and I don’t think I can go back. We’ve all heard of lifestyle inflation. This might be the very first step on my road to sushi inflation.

How often do you eat sushi? Are you willing to spend more on sushi than on other meals? What is your favorite dish?

Categories: Food, Luxury - Tags: dinner, worth the money

The Great Temptations of Etsy

Written by WellHeeled on May 13, 2010 · 14 Comments

I shall share three items that have caught my eye on Etsy, then hope that if you buy it, you will let me know in the comments so that I can live vicariously through your purchase.

For the world traveler:

I’ve always wanted a map to decorate my walls, and this would fit the bill perfectly. You can also purchase the picture with different colored canvases. At $160, it’s a surprisingly affordable piece of larger-scale art.

For the lady with style:

This 4-strand glass and bead necklace has a quiet elegance about it – you can wear it to the office with a black shift dress, toss it on with jeans on a grocery run, or dress it up with a satin A-line gown at a wedding. $38 without shipping.

For the businesswoman:

Every since I’ve gotten business cards for my new job, I’ve wanted a chic but sturdy business card holder. This silver-toned holder with the raised seahorse on the front is 90% class, 10% whimsy. $48.

Every time I am tempted by a purchase, I ask myself, would I rather have this ________ or would I rather save the money for the Galapagos Fund? So far, dreams of seeing the giant tortoise usually win out. Yet I cannot deny the appeal of the map. Or the necklace. Or the cardholder.

image source: Etsy.com

Clicking on the pictures will take you to the seller’s listing.

Categories: Gifts, Luxury - Tags: wishlist

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