Wardrobe Budget Blues
We’re going through our closets in an effort to divest ourselves of some ‘stuff’ and claw back some space. We went through the girls’ closet last weekend. It’s not a job I enjoy because even though we’re lucky to have lots of hand-me-downs and I’ve carefully sorted the clothes and labeled the boxes – It takes ages! Invariably at the end of the day, there are fundamental pieces missing such as a bathing suit which means a trip to the store to find one that a) fits well enough and b) they like. Yes, we’re at that stage where they like to have input. Anyway, it was relatively painless to solve with a visit to one store and a 10 minute stint in the change room for the bathing suits (they tried on other items over top of the clothes they were wearing!). Some new underwear, $150 and we were out of there!
It got me thinking though….in a previous post, I suggested that clothing budgets be guided by the value of your current wardrobe. For example, if the replacement value of your clothes, shoes, jackets etc. is $10,000, then perhaps 10% is a reasonable amount to budget annually for clothes. Is this enough? Are clothes your thing? They’re not really my thing but I recognize that depending on your job, the sports you may play and choices made between quality and quantity, 10% might not be enough. If it was up to my husband, it would be more than enough because his philosophy is – you can’t wear 3 sweaters at one time!
This may be a slight exaggeration but he might have a point in that there’s value to planning a wardrobe (ensure you have basics, shop with a list and buy only items that fit well and you like wearing) and spending more to buy quality classic pieces that will last longer. Like most things, the amount spent on clothing is a choice and it isn’t a good reason to blow the budget but what is the right balance between having the basics, dressing neatly and appropriately and taking pleasure from your clothes?
Posted: May 13th, 2015 under CEO of the House, Money & Lifestyle, Money Savvy Tips.
Tags: Budget, Dear Piggy Bank, Money & Stress