Why You Need A Clothing Budget
As we get closer to Spring and begin our closet overhaul process where we box away our winter wardrobe, it’s not uncommon to think about some fresh new styles to start the new season. This is also the time we go through our Spring/Summer styles from last year and determine if there is anything that needs to go.
Taking inventory is important as well to see what you might need to purchase going into the new seasons.
Spring is a great time to add some fresh styles as you continue to understand more about your authentic style. However, you need to ensure you are not blind shopping. What do I mean by that?
For starters, you want to make sure you take inventory of what you already have and ensure you are not duplicating. I don’t mean not purchasing the same item in a different color. If you love something, it’s perfectly fine to have it in more than one color. I’m referring to accidentally purchasing the exact same style and color of shorts if you already have a pair just like them.
This is wasteful spending, and therefore overhauling your closet first is critical.
In my free closet detox and overhaul guide, I provide worksheets that allow you to take inventory of what you are getting rid of and what you might want to purchase. Visit me on Facebook, Instagram, or Pinterest to pick up your free copy!
Once you have completed this process and have inventory of some items on your clothing, shoes, and accessory wish list, you need to be sure you set a budget for purchasing them. It might mean you can purchase them all at once, weekly, monthly, 2 times a year, 4 times a year, or 6 times a year.
My advice is do what works best for you. I typically fall under two categories: either 4 times a year (seasonal shopping) or 6 times a year (spreading it out with smaller selections every other month).
So why do you need a clothing budget?
It is critical not to overspend. Sometimes, if you are like me and love to shop, that can be difficult. Setting a budget will keep you in line with what is reasonable and will also allow you the flexibility to continue to master your authentic style. It also helps to prevent buyer’s remorse. And let’s get real, new styles that are released each season are fun and exciting to try out.
On the flip side of that, setting a clothing budget will help you to purchase the clothing items you could really use that you might not otherwise purchase but could benefit your authentic style.
So how do you set a clothing budget?
This is going to be different for everyone, but I suggest you stay with 2-6% of your income. You can figure it out by taking what you bring home monthly and multiplying it by either 2, 3, 4, 5, or 6%, depending on your family’s financial situation and what you are most comfortable with.
For example, someone who brings home $5,000/month and has a clothing budget of 4% would take 5,000 x .04=$200. This person would have a $200/month clothing budget. If you wanted to purchase seasonally, you would take the $200 x 4=$800 clothing budget every Fall, Winter, Spring, and Summer.
It’s up to you how you want to purchase and budget, but I wanted to provide you with some direction and budgeting suggestions. This type of budging also works well for your kids clothing purchases as well!
So, who is ready to get their clothing budget together? Drop a comment on my Facebook or IG post and let me know if this was helpful and if you decided to start a clothing budget.
XO,
Carrie