Money is terrific and I love budgeting and saving more than anything else. I get pretty excited about the most mundane expenditures and love paying my bills. It gives me a sense of satisfaction and that I am in control of my financial future. Somewhat weird - I know.
I put money aside for family adventures, sports, education ,retirement, Christmas and birthdays. I like to set goals and work away on them, little by little. Where does fashion fit into this very practical way of living? It fits in everyday when I get dressed.
How much are most people spending?
As part of my research for the blog, I have interviewed many readers and discussed how they plan their fashion expenditures. I was surprised to learn that most people don't set a budget, nor do they know exactly how much they have spent in a month.
There was a time when I was the same. When the children were small, my only goal was to appear clean...that was it. I managed to shower regularly and do laundry. As time went on, I became aware that I had been in a baby-coma and a few things had happened - my children were really well dressed and fashion had changed. Where did skinny jeans, infinity scarves and leggings come from? I also noticed that my co-workers were born in the late eighties...
So as an attempt to look current, I set a budget to bring me into the new decade. It was quite minimal at first and permitted haircuts and professional clothing only. It took quite awhile to build a wardrobe and I focused on blazers, pants and blouses. As time passed, I had a little more money to spend on myself and stretch out my purchases to include casual clothing.
Why set up a budget?
It saves money. There is one caveat, sticking to it. If you want a more expensive item, wait until you have built up the funds. No buyer's remorse or paying for things months later.
Where to spend the funds?
That depends on your interests. Try to do a cost per wear analysis and spend more money on the items that will see a lot of rotation. For me those are: boots, coats, purses and skin care. I spend less on trend items and accessories..
How much?
It is important to be realistic. What can you afford and be comfortable spending? Try setting a budget and seeing if it makes a difference. Even a small budget of $25 maybe just enough to get a scarf and brighten up your day without breaking the bank. A thoughtful, larger budget may end up saving money and avoid impulse buys and keeping your money set aside for other things.
Try it and let me know what you think!
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