11 Ways To Look Rich on a Middle-Class Budget
One of the worst financial blunders you can make is to spend yourself into poverty by pretending to be rich. But just because you have a middle-class budget doesn’t mean you can’t project success, style and sophistication in your daily life.
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“You don’t need a massive bank account to give off an aura of wealth and success,” said Lyle D. Solomon, Esq., a financial lawyer and principal attorney of Oak View Law Group. “A few key strategies can have you presenting an image of affluence, even on a modest middle-class income.”
A Little Spent on Basic Physical Upkeep Can Go a Long, Long Way
One of the primary keys to projecting wealth and sophistication doesn’t cost much at all — and it begins at home.
“Start with grooming,” Solomon said. “Keep yourself impeccably well-put together with regular haircuts, manicures and polished understated makeup.”
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Invest in a Few Well-Made, Well-Fitting Timeless Pieces of Clothing and Accessories
When it comes to clothing and accessories, choose quality over quantity — a small, smartly curated collection that makes you look and feel good is better than a closet full of meh.
“Wear classic, well-tailored clothing in rich fabrics like wool, silk and cashmere,” Solomon said. “Avoid logos and opt for simple elegance. Carefully curate your accessories. A quality watch, leather briefcase or handbag and good shoes speak volumes. Keep jewelry simple and high-quality.”
Choose Quiet Luxury Over Loud Wealth
InStyle sums up the concept of “quiet luxury” as “a movement championing understated elegance” — and Solomon’s advice to avoid designer logos in favor of high-quality well-crafted apparel made from rich fabrics is at the heart of the concept.
“Instead of purchasing items you think will make you look rich, focus on purchasing things from reputable brands that you know will last,” said Carter Seuthe, CEO of Credit Summit. “Oftentimes, this type of ‘quiet luxury’ is much more convincing than tons of large purchases, and buying this way can often help you save money and stay within your middle-class budget as well.”
Master the Art of Mixing High and Low
A middle-class budget doesn’t afford you the opportunity to wear high-end attire head to toe — but looking divine doesn’t require you to.
“Blend high-quality investment pieces with more affordable items to create a curated and sophisticated look,” said Sal Cocurullo, a financial and investment expert and founder of Rendite Passive, a platform dedicated to investments that generate passive income. “Pair a designer blazer with well-fitted, budget-friendly jeans or a statement accessory with a simple, inexpensive outfit. This mix-and-match approach allows you to leverage the impact of luxury items while staying within your budget.”
Buy Gently Used Designer Duds at a Discount
You might not be able to afford to buy new designer clothes like the rich, but you can achieve the same look for much less.
“Shop for high-end clothing items at resale sites like Poshmark,” said Melanie Musson, a finance expert with Clearsurance.com. “When your outfits are put together and professional, you’ll look a lot richer than when you go out in sweatpants.”
Prioritize Custom Tailoring and Alterations Over Designer Brands
When choosing your clothing, spend less on Instagram-ready brands and more on the perfect fit.
“Invest in tailoring and alterations to ensure that your clothing fits impeccably,” Cocurullo said. “Even modestly priced garments can look expensive when they fit perfectly. Tailoring can elevate the quality and perceived value of your wardrobe, giving the impression of custom-made attire without the hefty price tag.”
Treat Your Clothes as if They’re Your Ticket to the Upper Class
With your small but impressive, well-fitting and high-quality wardrobe assembled, it’s imperative to maintain it to the standards of those who have the cash to buy new clothes just to wear them once.
“Pay attention to the finer details of your appearance and presentation,” Cocurullo said. “Keep your clothing clean, well-pressed and properly maintained to convey a sense of care and attention to detail. Polish your shoes, iron your shirts and groom yourself meticulously to project an image of sophistication and professionalism.”
Reassess Your Budget To Get Inside an Upscale Car
A high-end car might not be within your budget now, but according to financial expert Dayten Rynsburger, CRO of Niche Capital, some budgetary modifications can make an entry-level luxury vehicle a reality.
He recommends scouring your spending history to look for waste — things like unused subscriptions and excessive restaurants or takeout — to reclaim a few hundred bucks per month.
“Review your bank statements and cancel any recurring services that you do not use or can live without, also known as the nonessentials,” Rynsburger said. “Pack all your lunches and snacks at home. Take a trip to the grocery store and buy your food for the week, then prepare it. Remember to take your time and do a good job preparing your meals for the week so you’re not tempted to deviate from the plan and order that $20 sandwich. This step is the most important because those $18.94 lunch charges add up fast.
Now, allocate the money you saved toward a vehicular upgrade.
“You just saved $300 a month on food and by canceling nonessential services that were eating away at your checking account,” Rynsburger said. “So, if you’re leasing a new car, you can now afford a few extra hundred dollars on your payment — and just like that, you went from buying a Honda with a payment of $300 a month to a Mercedes with a payment of $600.”
Save Big on a Heavily Depreciated Used Luxury Vehicle
According to Motor1, luxury cars depreciate faster than any other vehicle segment, with at least 20 luxury models losing between half and 65% of their value in the first five years. That gives middle-class buyers an excellent chance to save big money on gently used models.
“Imagine driving a well-maintained, pre-owned Lexus instead of a new, lower-end model,” said Shawn Plummer, CEO of The Annuity Expert.
Keep Your Car Immaculately Clean
Just as you must maintain your physical hygiene and meticulously attend to your clothing to project sophistication, the same applies to your vehicle. You won’t appear rich if your car is unwashed and unkempt, even if it’s a luxury model.
“A clean car, even if it’s a few years old, instantly boosts your appearance,” Musson said.
Carry Yourself Like a Rich Person
The last piece of the puzzle is the most important of all: Walk the walk.
“Finally, carry yourself with poise and confidence,” Solomon said. “Good posture, a friendly demeanor and articulate speech are free and can make a huge impact on how others perceive your status and success. You don’t need a seven-figure salary to look like a million bucks.”
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This article originally appeared on GOBankingRates.com: 11 Ways To Look Rich on a Middle-Class Budget
