You can tell a lot about someone by their handbag. The same goes for their bank account. From a distance, both might look fine. But get closer and the truth shows: frayed edges, ripped lining, straps one heavy grocery shop away from surrender. And while replacing a handbag is easy, carrying around a broken financial plan for years… Not so much.
There are two kinds of handbags. The ones that barely survive a season, and the ones that become your ride-or-die.
The first kind is the “it’ll do” tote you grabbed on sale. Neutral colour, roomy enough, and a price tag that didn’t make your heart race. But two weeks in, you’re fishing for your keys like a miner in the dark, wondering why the lining is shredded and the straps feel like they’re plotting their escape.
Then there’s the handbag. The one that cost more than you’d planned, but the moment you picked it up, you knew it was yours. Buttery soft leather, perfectly structured, and still turning heads years later. You love it. You protect it. You’d rescue it in a fire.
At What If Advice + Accounting, we see the same story with money. A financial plan stitched together with the loose threads of “I’ll figure it out later” might hold up for a season, but it’s not built to last. The right plan, one that fits your lifestyle, your goals, and your future, will carry you for years without a single seam giving way.
How to Give Your Money the Designer Treatment
1. Invest in quality from the start
Like handbags, cheap shortcuts in your financial life often cost more in the long run. Whether it’s paying down debt, building savings, or topping up your superannuation, choose strategies that still work five years from now, not just next payday.
According to research from the University of Newcastle, just 66 percent of Australians are financially literate. Boosting that literacy doesn’t just improve money habits, it actually leads to higher life satisfaction!
2. Keep it organised
A great handbag has compartments (or at least a zip pocket to stop things rolling into oblivion). Your finances need compartments too — one for everyday spending, one for bills, one for future goals. Without them, you’ll forever be rummaging through your budget wondering where the money went.
3. Protect it
A designer bag gets a dust cover; your finances deserve protection too. Think insurance, an emergency fund, and a plan for the “what if” moments. Because nothing ruins a look faster than being caught in the rain without an umbrella… and nothing derails your money faster than an unexpected expense.
4. Love it enough to maintain it.
A bag lasts longer if you care for it. Your money thrives when you check in regularly, tweak your budget, and adjust your plan when life changes. Give your finances a little TLC and they’ll return the favour when you need them most.
Not sure where to start? Our free budgeting tool will help you find your financial “compartments” - No rummaging required!
Good handbags aren’t just about carrying things, they’re about confidence. Financial confidence works the same way. When you know your money is in order, you stand taller, breathe easier, and can focus on the fun stuff without that low-level background panic of “did I pay the electricity bill?”
The truth is that a quality handbag is an investment. It costs more upfront, but it delivers every single time. The same goes for your financial plan. Something you can rely on, that works with your life and still holds strong years from now.
- No fraying.
- No ripped lining.
- No regret.
Treat your finances like your favourite bag — carry them with confidence.
About the Author
Luke Morris is a Senior Financial Adviser at What If Advice + Accounting, where he helps clients turn their “what ifs” into focused, actionable goals. He builds clear strategies to achieve them, manages every step, and provides smart tools to track and maintain progress.
Luke has a knack for turning complex financial concepts into practical, everyday advice - sometimes with a handbag analogy, often with a laugh. A dad to two girls, and proud owner of a “brilliant” sense of humour (just ask his wife), he blends sharp expertise with an approachable style that makes money feel simple.
When not guiding clients through superannuation, tax strategies, or life’s big financial decisions, he can be found competing in triathlons or exploring the ocean SCUBA diving.
