The Shockingly Common Money Traps | DON'T GO BROKE FOR YOUR BAGS| luxury minimalist money tips

Рет қаралды 27,575

Күн бұрын

The first 1,000 people to use the link will get a 1 month free trial of Skillshare: skl.sh/colourfulnoir08221 Hi everyone, I'm Eileen. In this video, I talked about the common money traps that need us running the rat race. I used to work 6 days a week (no break for an entire year) to run that same rat race. When I stopped trying to impress people, my expense went down. Honestly, I thought I would feel deprived but boy, it was a revelation. I no longer shop compulsively, and I no longer have unrelenting FOMO. The cogwheel of the rat race stopped turning. This is why you need minimalism, it really can change your life. I'm a luxury minimalist, and I hope you enjoy these money and shopping tips xx
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WHAT I WORE IN VIDEO
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Website
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Disclaimer: This video is kindly sponsored by SKILLSHARE. However are opinions are 100% my own. Some of the links included in my videos are affiliate links. Purchasing an item(s) via the affiliate link doesn’t affect the price you pay. Instead I MAY receive a small % commission for sharing these items with you. I do take the time to choose my affiliate links so thank you in advance for trusting me and using these links as it helps support my channel.
#luxuryminimalist #minimalistwardrobe #designershopping
Thank you for watching this video about two cents on some of the common money traps. Let's all escape the rat race xx

Пікірлер: 128

@gc7031 Жыл бұрын

Please don’t ever stop making these videos Eileen. I really enjoy your videos. It helps me stop that FOMO feeling. I’m not only curating my bags but also the people I follow in social media. Thank you for this video.

@ChrisCanomi Жыл бұрын

This is like the message I needed to do the same in my social media

@ColourfulNoir Жыл бұрын

Thank you for the feedback! I sometimes feel a bit worried about posting this kind of content as it might seem a bit out of place on this channel but my intention is really to shed some light on the money topics because I did many of those mistakes myself xx

@Lindy88888 Жыл бұрын

@@ColourfulNoir you are always spot on, trust me on this and thank you 🌷🌷🌷

@heidipimentel5535 Жыл бұрын

Great content Eileen! I think this is so important. And I agree with you: teaching students to handle money so that they understand how to achieve financial independence should be a requirement. 👍 I enjoy following you. Well done.

@maiiamiii Жыл бұрын

While I made some money from selling my Hermes Garden Party (about as much to cover a nice dinner for me and my partner) it still was very time consuming and also stressful. In hindsight it would have been better not to get the bag in the first place. By the way, over the last year I unsubscribed from all luxury channels except yours. I'm on a very similar path as you and it feels so luxurious every month to put a large chunk of my income towards paying myself first. To be able to buy something but choosing not to makes me feel richer than to own many expensive things.

@ColourfulNoir Жыл бұрын

Oh my god, I'm so happy to have found someone who's walking a similar path! You really share my sentiment. It's such a liberating feeling to choose not to buy something even when you can afford to. I feel like sometimes people describe minimalism as a self-deprivation. The truth is, until you experience it yourself, it's really hard to believe how life changing it can be xx

@lainelee3632 Жыл бұрын

"Looking rich doesn't equate being rich", so true! I've read The Millionaire Next Door and learnt exactly that! Those whom you don't know are rich are often the real millionaire compared to those you think are rich because they look it.

@ColourfulNoir Жыл бұрын

Oh that book is a must read, I listened to it on audible at least three times xx

@TheNicoliyah Жыл бұрын

That was one if the books that had the greatest impact on my financial journey

@GemmaGraceStyle Жыл бұрын

I noticed lately that when I’m obsessing over a new bag for example, if I let myself sleep on it and wait a few weeks before buying, by the end of that time period I usually feel like I’m over it, and end up not buying it 🤓

@ColourfulNoir Жыл бұрын

Cooling down is definitely a great way to avoid impulse spending xx

@Buttercookiesssss Жыл бұрын

Thanks for making sense into all these luxury purchase hype. So many go broke, even go into debt for them, it's so so silly. They don't realise that it simply means they can't afford it. Luxury shopping can wait, after all the necessities are taken care of. Xoxo

@ColourfulNoir Жыл бұрын

Agree 💯!

@Hello_Vuitton Жыл бұрын

So true, that’s why I’m stop buying what I can’t afford at this time

@ColourfulNoir Жыл бұрын

Respecting our own budget is a super power! Xx

@carriepalar5137 Жыл бұрын

This is what I am feeling right now, and even almost used up all of my savings! When I watched this video, It caused me to pause, take a step back, and asked myself, "Do I really need to buy that item?" That made me think that I'm lost...Thanks for sharing this great video!

@ColourfulNoir Жыл бұрын

Hey Carrie, I don’t think you’re alone. The world we live in now favours looking shiny on the outside rather than feeling nourished on the inside. This really can influence the way we spend. I’m glad you enjoyed my video! Xx

@DenBank1 Жыл бұрын

I have cancelled my 40 pound gym membership, instead I bought inexpensive weights, and other small exercise gadgets and take 40 minute brisk walks around in the local park to breath fresh air and admire garden beauty and also say hello to acquaintances. Now I am looking at a cheaper phone contract once the current one is finished.

@ColourfulNoir Жыл бұрын

That is awesome! Thanks for sharing xx

@mindbodysoul8214 Жыл бұрын

You are right & I believe money is Not taught in school simply because it's another way of CONTROLLING people and their ability of understanding money. Sort of like, the many price increases with Louis Vuitton Chanel & others of course... they Control us with the NEXT PRICE INCREASE... by making Another purchase BEFORE the next price increase, after declaring we are done with the brand after the previous price increase.😁 WONDERFUL VIDEO EILEEN!!!💯💜🌼

@ColourfulNoir Жыл бұрын

Thank you ❤️

@Misu.A Жыл бұрын

Exactly, people are rushing to buy the new bags before the price increase, it’s all marketing, panic buying.

@tamiewert808 Жыл бұрын

I really appreciate your videos. It's hard to break free from the mental boost that is derived from shopping for nice things!!

@ColourfulNoir Жыл бұрын

Thank you Tami xx

@pure_indulgence8144 Жыл бұрын

I’m glad you enjoy making these videos because I definitely enjoy watching them! They keep me grounded, especially as someone who loves luxury. I always try to be mindful and get the best value for money when making high end purchases and your video helps reinforce that we can have nice things and a nice life without being swallowed up by our possessions. Keep the videos coming 🙌🏾

@ColourfulNoir Жыл бұрын

This really means a lot, thank you xx

@danielxphi Жыл бұрын

Thank you for continuing to make these videos! It’s definitely much needed in this world of constant consumption and a nice reminder to take a thoughtful breath. Appreciate you 🤗

@ColourfulNoir Жыл бұрын

Thank you, Daniel xx

@meryemm.2820 Жыл бұрын

Fantastic video Eileen, please keep doing more of these 🥰for me personally, I stopped adding any luxury pieces to my collection since the start of 2022, and saved up more, and am about to start my own business soon. Right now to me, time is the biggest luxury, I want to have more time to travel and, by investing time and money now, my future self should be able to enjoy the passive income streams I am setting up now. In these channels, we don't talk much about money, and looking at the stats women tend to save less than men. We need to educate ourselves. I have spent months reading books about money and money management. The best thing I could do for myself. I hope your followers, start applying what you just said and preparing good foundations for the future.

@ColourfulNoir Жыл бұрын

I can relate! Nothing is more precious than having the freedom of our time xx

@heyyjanuary5256 Жыл бұрын

I am content with my current bag collection. Due to the price increases esp with luxe-- I've explored/bought contemporary bags that support small business who have just as good quality as luxe brands. Thank you for your well thought out video!!

@ColourfulNoir Жыл бұрын

That’s a wonderful idea! Do you have any brands to suggest? Xx

@Vjestica7 Жыл бұрын

I am doing the same. Bought few bags from Italian artisans that I found over Mirta page and I don't see any difference between them and my designer bags except for the price. Quality is amazing and bags can be found in all shapes and colors. Luxury brands went over the top with price increases for the same quality they used to sell for much lower price (or even worse quality like Chanel). I know price of raw materials are going up and that they need to follow up with price increase to keep profits, but the price increases they are doing are crazy.

@heyyjanuary5256 Жыл бұрын

@@ColourfulNoir I know we see Polene everywhere but really their quality is really great. Also Atelier Auguste is another bag brand I purchase from about 3x now. 😅

@iweelim Жыл бұрын

@@Vjestica7 I bought a bag fr Mirta too. Can't wait for it to arrive.

@pishi1990 Жыл бұрын

I always find these videos so simple yet incredibly useful. Completely agree about schools teach everything BUT money/finance. ❤

@ColourfulNoir Жыл бұрын

It's puzzling isn't it? Especially when they teach all the complicated algebra, statistics and imaginary number, but somehow they leave out personal finance and taxes xx

@christinetorres9273 Жыл бұрын

I love your videos. For me financial freedom is the best luxury.

@ColourfulNoir Жыл бұрын

That’s 100% my sentiment xx

@shawndavis7878 Жыл бұрын

Yes! Please continue to do more of these type of videos, they are very helpful and informative.😊

@ColourfulNoir Жыл бұрын

Thank you! It’s always lovely to see you here xx

@mrs.rocanation Жыл бұрын

Such a good video. You helped me realize I have fallen into more than one trap. Luxuries can be nice sometimes, but in the end it’s the simple things that truly matter: Your loved ones, your health, and time well spent. Thank you for sharing your thoughts and mind set. 🙂

@Bagellatte Жыл бұрын

Thanks Eileen for these thoughtful videos. Recently I have sold off a few of the bags that doesn’t fit my lifestyle and also have been thinking hard about purchases, although I must admit sometimes I cave in to temptations. I am still working hard to improve my views on luxury good. ☺️

@ColourfulNoir Жыл бұрын

Oh yes I’m tempted at times too, so it’s good to always try to stay grounded xx

@freedom_ATA Жыл бұрын

Hello Mrs. Eileen, I just love your channel I'm learning so much. Your honesty is so refreshing. You exude true class and elegance and I'm here for it! 💜

@ColourfulNoir Жыл бұрын

Thank you so much! xx

@elaineoverturf9918 Жыл бұрын

I loved this video content...great information and insight! Keep it up Eileen, I'm always looking forward to your videos, they've really helped💗

@ColourfulNoir Жыл бұрын

Thanks so much! xx

@anitakomma509 Жыл бұрын

Your videos help me so much in working through my shopping habits… I really appreciate the thought and time you put into them!

@ColourfulNoir Жыл бұрын

Thank you xx

@springrain180 Жыл бұрын

I am very happy that people like you have a very healthy approach and make videos to share with people. You are a great influence to young generation.

@Begining2013 Жыл бұрын

This was an excellent, excellent video. Thank you so much for sharing your thoughts on this topic. I totally agree with you.

@ColourfulNoir Жыл бұрын

Thank you so much, Natasha xx

@michelleo195 Жыл бұрын

Love your honesty! Dont stop making these videos. ❤

@ColourfulNoir Жыл бұрын

Thank you! Will do! xx

@mrscj1946 Жыл бұрын

I’ve been recently convicted of my choices spending my hard earned money. Thank you for the confirmation, I’m in total agreement. There’s always going to be something new, I don’t need or want it all!

@ColourfulNoir Жыл бұрын

❤️

@sihlempungose1578 Жыл бұрын

This is one of my best videos of you...please do more of these🙏🏽🤗❤️

@ColourfulNoir Жыл бұрын

That means a lot, thank you xx

@lsbdabarkads2761 Жыл бұрын

As always, I find your videos very informative and relevsnt. Thanks, Eileen.❤❤❤

@ColourfulNoir Жыл бұрын

Thank you xx

@koinpd6075 Жыл бұрын

I love your videos. Please don’t stop❤

@ColourfulNoir Жыл бұрын

Thank you so much xx

@marytownsend3718 Жыл бұрын

Thanks for the video, great insight.

@ColourfulNoir Жыл бұрын

It means a lot, thank you, Mary xx

@llkoolbean4935 Жыл бұрын

Love these videos. Such great advice. Thank you

@ColourfulNoir Жыл бұрын

Thank you so much xx

@vivistar_1 Жыл бұрын

This video saved me in buying one more bag! Thank you for such a thoughtful content🙇‍♀️💓

@ColourfulNoir Жыл бұрын

Glad it was helpful! xx

@beautyobjectives1303 Жыл бұрын

Thanks for the reminder! I needed to hear this.

@ColourfulNoir Жыл бұрын

Glad it was helpful! xx

@cathylam344 Жыл бұрын

I love your advises 😘

@krishniarumugam Жыл бұрын

Thank you for this wisdom

@janetzak8592 Жыл бұрын

Great video always enjoy your uploads. Thank you from dallas texas USA

@ColourfulNoir Жыл бұрын

Thank you so much, Janet xx

@SimplyMeLux Жыл бұрын

I love this topic dear. Such a good reminder. Being rich vs looking rich. Spot on. Btw, your thumbnail picture is cute 😁

@ColourfulNoir Жыл бұрын

Thank you xx

@ellexusse Жыл бұрын

Such good content. Thank you.

@ColourfulNoir Жыл бұрын

Glad you enjoyed it! Xx

@luxurybagheaven Жыл бұрын

Great content. Thank you

@ColourfulNoir Жыл бұрын

Glad you liked it!xx

@ChatsWithChris Жыл бұрын

Thank you so much for this video.

@ColourfulNoir Жыл бұрын

Thank you for being here xx

@Lindy88888 Жыл бұрын

@eileen, our youtube blessing … #thank #you for your contributions 🥰🌷

@ColourfulNoir Жыл бұрын

Thank you xx

@walaabadran1088 Жыл бұрын

Thank you for this video it helps to look differently on my finance

@ColourfulNoir Жыл бұрын

Glad you liked the video xx

@rhondafrazier8205 Жыл бұрын

Wonderful video! I would rather put money away in investments than buy another lux item. I have my special pieces and feel I don’t need to own the latest and greatest! I have the same mentality as you do! I agree with everything you discuss in your videos! ❤️

@ML-rz5pg Жыл бұрын

Thank you, for great video!

@ColourfulNoir Жыл бұрын

Thank you xx

@chidenisee Жыл бұрын

I haven't been inspired by anything new now. Bags, shoes or clothes. I hope to travel with my son starting next summer and moving overseas in the next 3 years. I have downsized everything and I basically where the same thing every week 😆. I sold all my bags except 2 and now if I add anything it has to be a forever piece or at least something I can get dow to a low cost per wear price.

@ColourfulNoir Жыл бұрын

Wow that’s inspiring! I’ve always secretly wished we could move to a new country every 6 months. Where are you planning to move to? Xx

@maisitag Жыл бұрын

Really good video. Lost to think about!

@ColourfulNoir Жыл бұрын

❤️

@parishers6351 Жыл бұрын

Much needed video.

@ColourfulNoir Жыл бұрын

❤️

@ItsJessDee Жыл бұрын

I enjoy this type of video. I look forward to more content like this.

@ColourfulNoir Жыл бұрын

Thank you, Jess xx

@esgara8446 Жыл бұрын

As a property investor, I can certainly say that you can and should enjoy your well-earned money. Life is too short. I always say this - if you like things and you can afford them, go and get them and enjoy wearing them. Only buy things you really like. I focus on classic pieces that fit my lifestyle. For example, I don’t see the love bracelet or VC jewelry amazing pieces. Moreover, don’t buy on credit unless you can pay off immediately. Looking rich doesn’t mean being rich - it is partially true.

@jucaja Жыл бұрын

I totally agree!💜

@ColourfulNoir Жыл бұрын

❤️

@Shazi_Li Жыл бұрын

I love love love your videos. I enjoy watching something more practical. We should treat ourselves, but luxury is not the only way to treat ourselves. Can you please also make a video on small luxuries like buying dresses or tops or shoes which may not cost like Hermes or LV or Chanel but becomes an enormous burden on the pocket? Most of these items even remain in our closet. Recently I have been trying to be mindful of buying these items, one, because of clutter and wasting money, and second to be environmentally conscious person.

@ColourfulNoir Жыл бұрын

Thank you so much for your support, Shazia zz

@ajordzkim4059 Жыл бұрын

I am literally out of penny.. since my relationship with my beloved partner starts to fail. I ended up buying too much luxury goods just for me to feel fine.. but I was so much wrong money doesnt even heal me for those pain I have with me. Though it gave me a short laughter and happiness but not for last long.. I dont regret but I just feel so much more in pain that I never achieved the happiness that I wanted..

@ColourfulNoir Жыл бұрын

I’m so sorry to hear that. Look after yourself xx

@m.h.t1286 Жыл бұрын

Now we’re talking. What a great topic Eileen 👍 You are the only ‘luxury’ channel I’m subscribed to, the rest are just money & finance channels 😆 Money topics aren’t something people will talk about over dinners or get togethers. However, it never seemed wrong if you are surrounded with like-minded people. I often think people who talked about money are so ‘money hungry’…not anymore…if we love & appreciate money, we should talk about it & find ways to make more money (more incomes or less expenses or both!) I do know friends who made money on selling their designer handbags (myself included). That’s investment in its own right! Nothing to be ridiculed. Of course investing in shares & properties (+/- crypto) are the best investments one can have, we shouldn’t deny the group of people who can afford luxury goods who have already had that under their belts…

@ColourfulNoir Жыл бұрын

Totally agree! Especially nowadays, anything can be a good business opportunity or investment. The idea of this video is really to speak of the common money mistakes, I know I personally did many of them before achieving financial freedom myself. However, like you said, certain people who seem to ‘flex’ might have done all the work and kept their priorities right beforehand. Nothing wrong to splurge a little xx

@m.h.t1286 Жыл бұрын

Your video is very sensible Eileen. I have always enjoyed them, even how you phrase them suit me well 😊 However, I’ve read few comments from others who didn’t have nice things to say about buying handbags as ‘investments’ & I totally get it…however, there are people that made money from selling their handbags… Some even say having shares in Apple or Amazon are real investments, not handbags…very true too…however, who to say people who bought luxury handbags haven’t bought those shares already? I like to see things both sides 😇 The consumerism part is a big turn off for me…unboxing videos? No thanks! lol

@deborahcurtis1385 Жыл бұрын

All good in theory about avoiding urgency buying. However if you're the most common sizes in clothes and shoes the chances are the item will sell out before going on sale. The most likely sale items are high heels in big sizes (because women with larger feet tend to be tall already!), flat shoes in small sizes (the opposite), non classic gimmick items and fad fashion. T shirts in the Chinese New Year animal sign is a classic. Finally things are often on sale for good reason. For instance they have a design fault, or they are hard to match with anything. Or they're big checks in big sizes or have horizontal stripes in big sizes. Such things are fashion crimes and shouldn't be made in the first place. Or they're just rubbish quality anyway. You can still get bargains but sometimes you just have to stump up the money especially for a classic item. There is nothing wrong with this. However the issue is you want something on your birthday to make you feel special. It's a sign of maturity when you can forgo this, but often it's not necessary to reach that conclusion. It's only one day of the year after all! Some items sit in your wardrobe and it's up to us to actively find a way to wear them. We get dragged down by the everyday and forget to do it. JIMO

@magdeleneleong3749 Жыл бұрын

This is such a good video, Eileen. I can relate to the things you said, especially the mobile plan. Keep doing video like this and I appreciate your thoughts.

@ColourfulNoir Жыл бұрын

Feedback like this really keeps me going, thank you for your support xx

@Debbiesdilemmas Жыл бұрын

I always wondered why schools don’t teach more practical subjects especially when it comes to finances. If there had been a course about budgeting for everyday life I think it would have been amazing. My son is 25 and still living at home which I’m not complaining about as he’s our only child. My worry is that he is terrible with money. He never was good at math and calculations so this doesn’t help him when it comes to budgeting. He has bought a car which he makes payments on and he also pays for his insurance, gas, etc. He doesn’t think about saving as he enjoys going out, dining, movies, etc. He does help us with some living costs but it really leaves him with not much left.

@anttoronto3202 Жыл бұрын

I often wonder how many of the young women I see can afford all these luxury bags, shoes, jewellery, and cars. There are many wealthy people, but are they in their 20’s? As a woman who will be 60 soon, in my experience, very wealthy people don’t flaunt it like we have been seeing these last few years. Just saying…. Most of these people are broke. Guaranteed.

@Shazzordinarylifestyle Жыл бұрын

Wowww well said Madam

@ColourfulNoir Жыл бұрын

Thank you xx

@conniepleasantnails Жыл бұрын

Very insightful, I just watched a video by “The Minimalist” about the “consumer mentality” and it touched on what you brought up in the beginning of your video about young people being taught about finances in school. Eileen, I have also heard the other side of paying for something full price. There are those who rarely shop and when they do and decide to purchase a nice item full price they value it that much more. I see you still have your flats so I’m guessing you love them and appreciate them that much more. 💕 I am working on my financial minimalism by reducing or eliminating small monthly expenses like…movie channel subscriptions, lowering my cell phone bill, eliminating email/text notifications to stores so I am not tempted to shop unnecessarily. I am also working on paying off my vehicle. I will also look into comparing car & home insurance rates. All of these small savings certainly add up. I have a very short list of things I might need this Fall/Winter when it comes to clothing/shoes (2-sweaters & 1-boot).

@ColourfulNoir Жыл бұрын

That's refreshing to hear! I started being very intentional with all big and small spendings and it has made such a difference xx

@dapperlygrungy3189 Жыл бұрын

Hi Eileen... I spent more than I should on workout clothing by a brand called ON Running. Its an upgrade from Nike, Adidas, and Under Armour. Your thoughts? I could still return my haul and go back to basics and save loads.

@ColourfulNoir Жыл бұрын

I’m not too sure if I’m the right person to answer this but I think as long as you’re intentional with your purchase and you’re sure you’ll make good use of it, and it makes you feel good, then it might be money well spent (although I personally don’t splurge on the sportswear department) xx

@iamjulia9458 Жыл бұрын

Yes, I think you are right ✅️ what we are admiring and craving for is the bloggers' financial freedom, not their bag collection. I always wonder where do they find the money to finance all their unboxing? They must be either cash poor while bags-rich or having alternative income streams 🤔 for this extra moolah to get these bags.

@ColourfulNoir Жыл бұрын

Financial freedom is the true luxury xx

@iamjulia9458 Жыл бұрын

@@ColourfulNoir totally agreed. That's the type of luxury I'm pursuing for. 👍🏻✨️

@Misu.A Жыл бұрын

Tbh luxury bags outside of Hermès are kinda a waste of money now. There are a lot of premium brands who are making beautiful bags with great quality and pretty design who are less than $1000 and worth buying. So… it’s up to you if you want a good bag to use for a long time and not ruin yourself or just buy a brand because it’s famous even if the price is ridiculous and can’t be justified anymore.

@natashadickson4819 Ай бұрын

⭐️⭐️⭐️⭐️

@eunicem1542 Жыл бұрын

Youre going from making money by telling people to buy expensive items to now making money by telling people to take classes unrealistic for the everyday life! Youre still making money by pushing things on people whike you make money off of them.