How much to spend on clothing every month
Most people will agree that they spend a substantial amount of their hard-earned money on clothing. However, should you spend all of that? What should be the most ideal clothing budget be? Most financial experts recommend 5% of your total earnings after tax deductions. In this case, you will take whatever your monthly payment is and multiply it by 05.
However, in most cases, what people budget for clothing and what they actually spend shopping for clothes are two different figures. How much people spend on clothing really varies. For instance, even when you go by the 5% rule, a single person on a 100k salary and the same amount to a family of four will have to spread the amount to four people. More so, 5% has assumptions like you are debt free or there are no beyond budget emergencies. The good thing about this rule though is that there is a baseline and then from there you can make your own adjustments.
If you are feeling you need to stick to a budget when it comes to shopping for clothes every month, here are some great tips to help you do just that.
Stick to the basics
Ideally, the largest percent of your wardrobe should be stocked with staff your wear often. Such pieces of clothing include pants, skirts, jeans, and solid-color tops. You can now have a few shiny fabrics, patterns and accessories just to top it up. With that in mind, you can be able to allocate your budget accordingly and greatly help you cut down on impulse buying.
Buy better quality clothing
Buying clothes on a budget does not actually mean buying cheap low-quality clothes. If you buy some decent clothing, you will get more value since they will last you longer. If you invest in a good pair of jeans, there will be no need to budget for another one in the near future. If you follow this advice, you will be looking good all year round without actually spending much of your money. The only time you should disregard this advice is when it comes to kids. They are growing fast and no matter how durable a piece of clothing is, they will not fit into it come next year.
Buy clothes at the right time
Nothing wrong will happen if you don’t buy some clothes every end month. You can just save that amount to spend it when the right time comes. Take advantage of stores that are having a clearance sale. Here, you will get quality clothes at a throw-away price and this is to your advantage.
Practice appropriate clothes care
If you appropriately care for your clothes, they will still be in good condition even after fifty washes. There is no rocket science here, just follow the directions on the tag. If there are no directions, there are usual basic rules to follow such as washing whites with whites and similar colors together. You can even find out how to wash a particular garment online. When you take care of your clothing, you will not be in dire need to buy new clothes come end month.