Some of the world’s most expensive handbags: a $3.8 million purse made by The House of Mouawad in Dubai that’s adorned with more than 4,000 colorless diamonds and a $1.9 million Hermes Birkin bag.
Even if you are not shopping in that rarified air, handbags can be a blackhole for your money. Women own an average of 13 handbags and spending in the industry is more than $11 billion a year. Keep more cash in your purse by comparison-shopping online and in outlet stores. If you have your eye on something fancy for a special occasion, consider renting it.
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