We all dream of living a champagne and caviar lifestyle – only for most of us, its destined just to stay a dream. We may have big-league dreams, but the reality of our bank balances soon bring us back down to earth. Whether its luxury property, travel without the hassle, fine dining or fast cars and a smart wardrobe, the perks of being able to buy the best without checking the price tag are obvious. And it used to be that this type of lifestyle was out of reach to all but the richest and most famous.
Technology is about to change the game. Just as the development of the internet democratised knowledge and access to various services, so its disruptive influence is coming for the elite luxury lifestyles we see and envy. Whatever you’re coveting, there is now a way to experience it, at least for a while, without needing a million in the bank. The secret lies in a concept called ‘fractional ownership’. It lets people buy into a fraction of whatever luxury item they so desire – fast cars, waterfront mansions, even fine art. It’s a philosophy that puts the enjoyment of the thing above the outright ownership.
So instead of owning an asset outright, you share it with others. The philosophy makes sense, as even if you did have sole ownership of one of the assets, you’re unlikely to be physically making use of it all the time. Why not cash in on that downtime by letting others enjoy it – and share the cost. The strategy brings luxury items within reach of those who are still prepared to save, but previously would have been far short of the mark. And with new online platforms now enabling people to easily connect with others who share the same aspirations – or acting a broker to offer you a share in something big, whatever you desire could be within easier reach than you think. Here’s how…
A luxury bag to match every outfit
Chanel, Gucci, Givenchy, Mulberry….many women dream of owning a deluxe handbag wardrobe. And while a few save up for years to afford that one dream bag, there is a way you can access every style your heart desires, including those limited edition versions that get snapped up as soon as they launch. So if you need a bag for a special occasion or you want to change your accessory with the seasons, or feel it’s essential for your career to project a certain successful image, a vast collection of designer arm candy is yours. For a monthly membership fee that equates to a latte a week, you can join a handbag club that loans out the hottest designer bags, with each being ordered online and delivered to your door in time for that hot date or crucial meeting. That way you don’t have to commit to one style or colour, and you can keep up with the latest trends, swapping and changing brands as you like.
Become an Investor
Once, speculating on the stock market, owning a stake in a rock band or a part of an up and coming fashion label was the exclusive privilege of the jet set. But websites are springing up all over the place now allowing you to use your savings to stake a claim in something exciting. Buy a share in a rock band at slicethepie.com, and every £1 you invest up to £15,00 gets you a 10p return on every 1,000 albums sold, while potentially financing a piece of music history. You can also invest in part ownership of racehorses, vineyards and young fashion designers. Initial investments are under the £100 mark, and the bragging rights are off the charts. Plus many recipients reward investors with exclusive perks such as backstage tickets, first chance to shop the collection, discounts and tasting evenings.
Use Your Manners To Score Upgrades
Did you know that you can trade politeness for perks? When dealing with the service industries, especially ones faced with a high volume of customers, such as airlines and restaurants, how you act can get you far. If you are friendly, personable, polite and not afraid to ask –without being pushy, you can find yourself unlocking a world of complimentary upgrades – meaning that you get to travel in style like a star without paying for the privilege. Speak to flight attendants, hotel personnel and car rental agents to gain access to perks. Travelling alone and being well dressed will also help as staffers want to pick people who will blend in.
Travel By Private Plane or Yacht
But if mass transit – even in first class – doesn’t appeal, how about travelling like the super rich on board a private jet? Many of us wonder how much a private jet costs to rent. And now its been made easy to access this style of travel, with sites offering an all on average per hour rate. Get a group of friends and family together, and that becomes an even lower cost. There are even last-minute booking offers that lower the price to within ranges you’d pay for a commercial flight – if you’re prepared to be flexible on timings and dates. Similar sites offer rental deals on luxury yachts, or many people are now finding advertising for people to split shares in a boat. With a secure legal agreement, there’s no reason why this shouldn’t work out, as long as you’re prepared to schedule your time using it around other people. Depending on how many people take shares, this shouldn’t be too difficult to arrange.
Free Up Your Time by Outsourcing
Many multi-millionaires would tell you that their most precious asset is actually something all of us have: time. And rich or not, there never seems to be enough of it. The wealth factor comes in when you look at how much you can achieve in 24 hours. The celebrity or richer person can make more of their time because all the life admin that we mortals have to deal with is taken care by an army of trained staff. The good news is, you can also outsource the tasks you most dread and claim the time back – exactly what a millionaire would do. It’s easy to squeeze much more into your life that way. From virtual personal assistants that can take the chore out of booking travel arrangements or finding the best deal on things, to the world’s best workouts streamed to your tablet, bringing the expertise of trainers to the supermodels and movie stars into your living room (and saving you the time cost of a commute to the gym). If you dread housework, hiring someone to come in a clean once a week isn’t as expensive as you may think. And the online world means that 24/7 banking and bill paying, and setting up recurring orders for deliveries of your daily necessities is super easy. This saves you time and hassle, freeing you up to make the most of your time on other, more enjoyable activities.
Develop a Side Hustle
It may sound like more work to start off with, but developing a paying occupation on the side can mean that you can afford to save a considerable amount of money. If you grow it to the point where it can take care of the bills, that means the money you earn from your primary job can be put to savings, If this becomes possible, you suddenly start building up a significant amount of cash, which if invested wisely, could make a life-changing difference. Perhaps helping you secure the home of your dreams, or pay your mortgage off early so you don’t have to work as much. Either way, especially before you start a family, working double time makes excellent financial sense. Having two jobs and banking the income from one while spending the other is great practice, no matter what you do. Even if you just do it for a few years, it could give you a cushion that means you don’t have to worry about money in the same way.
Start Investing to Build Wealth
Its fact that most of the super-rich are did not become that way through salaries earned in jobs. Real, significant wealth is found in asset ownership. So make creating an investment portfolio one of your main financial priorities. You don’t have to be a millionaire to trade on the stock market. You can set up a day trading account with a minimal deposit in the low hundreds, and top it up with a modest contribution like £50-£100 per month and see results. This video does a great job of explaining how to start day trading on a budget and making a healthy profit that you can reinvest or use as extra income to live a more luxurious lifestyle.
Living a millionaire lifestyle is as much about mental attitude as anything. Retune your thinking to be about quality rather than quantity, slow down to appreciate the finer things in life, and from a pair of shoes to a good steak have these things only when you can afford the finest – and appreciate every second of it.