Budgeting for fashion – things like shoes, handbags and clothing!!
I love fashion and shopping. Most girls and women love fashion instinctively. It's the nature of our gender to go crazy over pretty things such as shoes, handbags and all sorts of clothes at the mall. However, it is one thing to love shopping, it is totally another thing to go in debt for the things that you love. In this hub, I am going to talk about how to stay in your means when shopping for shoes, handbags, clothing and other fashion accessories that you love. Let's love fashion and still have money left in the bank for rainy days.
Set a budget every month for your fashion shopping – Unless you have no clothing, shoes and handbags in your closet, fashion items are not needs. Needs are things that you absolutely need for survival and wants are things that you can do without. With your monthly take home pay, a maximum of 10% can be spend on fashion before it will get you in trouble. Here is the deal, if your take home pay is 3000, the maximum you can spend for the month is 300. But what if you need an item that is more than 300 dollars. You can use several months' allowance for that one item.
Keep track of your spending in a spreadsheet – A few people are very good with money and can do numbers in their heads. Most of us are not. We really do need to keep track of our spending in paper form. What I recommend is to use a spreadsheet program like excel to easily keep track of all your spending. When you do that, you will know exactly how much you have spend each month and if it is less than or equal to 10% of your take home pay. By doing this, you can easily control your budget and avoid going over the 10% limit.
Try to get fashion items on sale instead of buying full priced items – This should be intuitive to many. Retailers have lots of mark up for their items to make a profit. When the items do not sale as expected, many are marked down. In this economy, many retailers have mark downs for their items. You can almost always find stuff on sale that are a few dollars off to even more than half off. Hone the fine art of bargain shopping through experience.
Shop online for deals – there are lots of great deals online that are at a huge discounted prices. You can shop around at different websites for all major clothing retailers. Many retailers also offer free shipping when you exceed a certain amount or give you free shipping under all conditions (for holidays). Another thing about shopping online is you will find more sizes and styles available. In most stores, many clearance items might be out of stock.
Calculate the real costs of the shoes, handbags and clothing that you buy – Some stuff might be on sale for a very cheap price. So, many women would just buy it because it is a good deal. However, they end up not wearing it or wear it only once or twice. The cost of that piece of clothing will end up being what you paid for. Another piece of clothing that you might buy for a bit more but ended up wearing it all the time is actually a better deal. Here is what I mean, if a top cost $35 and you wear it 35 times. It would be $1 each time you wear it. Compared that to a $10 top but you only wear it once. That would be $10 for the only one time that you wore it. Now, I am not saying you should go for more expansive items. I am saying that don't buy things on sale if you don't want to wear it at least 10 times or more. Another words, buy what you like! Show the world your style and not over stuff your closet with useless pieces.