Some people will tell you that the high cost of high fashion is actually a waste of money. Blasphemy!
However, it can be an addiction. And like any addiction, it can take over your life and ravage your personal finances. You can soon find yourself with a full closet and an empty bank account.
It’s all about moderation… ish. Today we will explore how to avoid going poor while looking like luxury.
Is Fashion a Waste of Money? No
Let’s just get this straight right now. There are people who will say that spending money on high fashion is a waste. That’s just nonsense!
These people clearly don’t care about fashion (and it probably shows) and don’t see the point of investing so much money in it. That’s fine, they don’t get it. You may not get why people spend $400.00 on a bottle of whiskey. That’s not your thing. Fashion, however, is your thing.
In a lot of cases, spending money on high-end clothes can be an investment in your career and dressing for the job you want to have, as they say. It’s also a great way to indulge in a bit of self-care and “treat yo self.”
You’re spending more on fashion than the average person. But that’s OK as long as you’re looking for everyday ways to spend less in other areas of your life. However, not everyone does that, and this is when fashion becomes a problem.
When Fashion Becomes a Problem
Do you get your paycheck and immediately go out on a shopping spree? Ok, that’s not ideal and you need to work on that.
Impulsive spending without a plan or budget is incredibly dangerous. It doesn’t matter if you’re spending that money on food, clothes, or electronics. If money is spent without any real plan or concept of what is left, you’re digging yourself a hole, even when you’re not in debt. You’re left scrambling to pay for everything else.
If you overspend without a plan, you find yourself relying on credit to pay your bills. And, when those surprise expenses (i.e. your laptop dies, or a pipe bursts in your home) pop up, they go to credit as well.
When you step back and think about it, the $400.00 you put on a credit card buying a pair of shoes isn’t “just $400.00.” It’s actually “$400.00, plus anything else that comes up between now and payday.”
Sensible Spending
Don’t let all this talk about financial responsibility get you down. It is certainly possible to live your best life, look your best, and still have some money in your bank account.
The first step will always be coming up with a realistic budget. There is almost no way around this. You need to have a high-level view of where your money is going and where it could/should be going.
Don’t worry, there is an entire internet of budgeting templates that you can use. There are also countless amazing budgeting apps that you can download on your phone, so accountability can travel with you.
Too many people see these apps as a whiney voice inside their heads that say, “You can’t afford that, forget it.”
However, more often the voice will say, “Make sure you pay your phone bill and then buy this on Friday when you get paid. You can have this, or you can have the pants you saw online. But you can’t have both.”
Living on a budget doesn’t mean you have to look like you’re shopping at budget stores.
