How to purchase whatever you want to?

I see so many youngsters these days, spending a lot on things they don't need, just because they saw that Instagram influencer talking about it. If you spend the money that you haven't earned, to buy things that you don't need, you can end up in a serious debt trap.

But then how do you buy those luxury items that you want but don't need?

It is simple. Here is how I spend money on not-so-important things:

• Don't buy luxury items from your earned salary or borrowed money. If you are earning Rs. 1 lakhs a month, that Rs. 5k wallet you bought, was essentially ~1 day's worth of your hard work.
• Invest your hard-earned money into assets that grow. For example Stocks, Mutual Funds, Fixed Deposits, etc.
• Use the passive earnings from the assets to buy the not-so-important items.

This way, you are not trading your hours for the purchase. You are rather funding the purchase with absolutely passive earnings. This method will help you ensure that you don't end up screwing your finances. At the same time, you won't feel guilty either.

If your passive earnings cannot fund the purchase, it probably isn't a good idea (financially) to purchase that not-so-important thing. Better to work on your earnings and assets and resist the temptation to make that purchase.

PS: What I mentioned above is only for not-so-important/luxury purchases. For necessities, you don't have an option.