Here’s the deal: Hate it or love it, people will judge you by the image your project. Your personal image will be used to determine how successful you are, or even worse, how successful you are capable of being. That’s right, the sad truth is that if you don’t look like you could play the part of an executive, you may never get the chance, no matter how hard you work.
A projection of success is often a double-edged sword, though. Just look at doctors. Many of them feel the pressure to look successful even when in residency (making about 40k per year). This causes them to go out and buy a luxury car, spend countless dollars on a top-end wardrobe, and go to and do the things that successful doctors often do. They are “forced” to play this game for their entire lives, and many never save enough to retire. This is not the path that I’m promoting here. If anything, I’m exploiting this exact idea for your benefit.
If you are willing to do the work and dedicate a little time, you can project the same level of success that people who make 2-10 times as much as you have. Of course this isn’t necessary, but if your goal is to “fake it till you make it” this will help you get there.
First off, when you think luxury car, what comes to mind? For me it’s Lexus, BMW, and Mercedes Benz. A Mercedes C300 starts at $33k. A BMW 328i starts at $36k. A Lexus IS starts at $37.5k. So it’s easy to see how it could be dangerous buying a $35k car on your entry level salary. But that doesn’t mean you can’t own one. Consider this: A 2003 BMW 330i with less than 50,000 miles on it is valued (by Kelly Blue Book) at $13,230. This car probably has equivalent or better technology than the car you are currently driving, even if it costs less (a Toyota Corolla starts at $15k, and you better believe that doesn’t come with navigation or the other cool things you can get from a luxury car).
Maybe you didn’t know that you could get them that cheap, or maybe you are afraid to drive a used car. Let me just tell you this. My car is a BMW 328ci (2000) with 95k miles, and my fiance drives a Lexus RX300 (2002) with more than 150k miles, and both of our cars run fantastically. Coincidentally, the car I owned previously was a Chevrolet Camaro, and though I drove it to 179k miles, it didn’t run brand new as good as my BMW now drives (with almost 100k miles). The quality of craftsmanship that is put into these luxury cars is unbelievable, and if you are willing to sacrifice having the latest model, you can ride around in style without breaking the bank.
Next, take a look at your boss’s (or his/her boss’s) wardrobe. Chances are your’s doesn’t compare, or if it does your wallet looks extra thin. This doesn’t have to be that way. I own many suits and sports coats, including an Armani coat, and the most I’ve ever spend on any 1 item was $189 (and that’s for the suit I’m getting married in). If you are willing to stalk and hunt an item you really want, you can get it for way less than retail. Also, if you are willing to sacrifice brand for style, you can get away with plenty of great stuff on the cheap. My first three piece suit came from Target. I’m a pretty lean, muscular guy, so it fit perfectly off the rack and required no alterations. And while I can’t say it looked better than an Armani or Hugo Boss suit, I’ll tell you I get complimented EVERY SINGLE time I wear it. Here are some of my shopping strategies that work well. They just require you to do a little work.
- Subscribe to email notifications for the stores you shop at often. Macy’s had an amazing sale this last weekend, and I walked out with 6 pairs of slacks, 2 belts, and a suit for less than 400 bucks.
- Use coupons and shop clearance. At Express, I bought 3 button down shirts on sale, 3 for $29 each (usually $49.95 each). But I also had a coupon that was spend $75, get $25 off. So I got 3 shirts for $66 when it would usually be $150. Not bad.
- Hit up your local Marshalls, Ross, TJ Maxx or other discount brand seller once every couple of weeks. You’ll find great shoes, shirts, pants, ties, and belts at a fraction of their retail price. You’ll have to do a little hunting in these stores, but a great find can save you hundreds.
- Hit up the outlet malls. This is where I got my Armani sports coat. It retailed $550, and I got it for a whopping $95. Of course, I wear a 42L, which probably isn’t very popular, but it was still an awesome find. I also recently got Banana Republic’s last seasons polos for $15 each (usually $40) because the new seasons line has 3 buttons instead of two. I bought 6. For that price, I’ll sacrifice the extra button.
- Don’t wait till you need it. If you find a good deal, buy it and store it. Even if you have to sacrifice a dinner outing this week to recoup the cost, it’s worth it rather than paying retail on the day you need it.
I guess the moral of the story is that you don’t have to spend an arm and a leg to look successful. Even when I’m established in my career, which averages between 150k-350k per year, I’ll still never buy a new luxury car. It just doesn’t make financial sense. Plus, it feels like a great accomplishment when I find these deals. I’m driving a BMW for a fraction of what most people spend to drive their Toyota Camrys and Ford Tauruses.
All it takes is a little discipline (to not buy things at full price), a little time each week (to check out my usual shopping places), and patience (to wait till it costs what I’m willing to pay).
So, do you still think that it’s too expensive to project an image of success? I don’t.
