4 Rules to Being Efficiently Fashionable
Please note that this piece is specifically for those that have a) paid of all of their revolving debt, b) are able to set aside at least 10-15% of their net income into an emergency savings fund, c) able to make maximum contributions to retirement plans, and d) are able and willing to do a, b, and c, while cutting from other expenditures so that a, b, and c are not disrupted in any way, shape, or form. In other words, you are making #baus moves with your money.
Clothing our bodies has existed since the beginning of time. And as humans have evolved, so have the functions of our clothing. Once seen as a staple for survival, clothing evolved into a grandiose display of how bodies are appreciated, praised, and represented. The concepts of fashion change just as often as those who produce the leading lines and styles. And as these trends come and go, keeping up with fashion can not only lead us down destructive financial habits, but an also hinder us from reaching normal, attainable financial goals. However, being smart and meticulous with your purchases cannot will get you the most bang for you buck, while satisfying the desire to keep up with the Jones’ (or at least some of them).
Rule #1: If You’re Going to Splurge, Splurge on the Classics
Ah yes, the classics. The Chanel’s, the Lois Vuitton’s, the Christian Louboutin’s are just to name a few. These designers have mastered the art of keeping certain styles relevant and stylish with an ever changing, evolving world of fashion ins and outs. And while these products and lines come with a hearty price tag, their timeless existence will get you more than your money’s worth in the end. For example, the patented leather pump has been a staple in the fashion industry for decades. So having that timeless fashion artifact is worth investing in. Christian Louboutin’s infamous Pigalle pump comes with a large, albeit somewhat reasonable price tag of $695. The beauty of this shoe is its versatility—the ability to go from day to evening seamlessly. It’s class cut, style, and heel can keep this particular item in your closet for YEARS; making this item much more of an investment, versus a impulsive splurge.
Rule #2: Stay Away From Expensive Trends
Does anyone remember those “heel-less” anti-gravity platforms that found their way into fashion back in 2012? Top designers were selling their version of the shoe well into the upper hundreds, and lower thousands. And where did all these purchased anti-gravity platforms end up the very next season? In the back of the close collecting dust, only to remind us of how trends can have us fashion forward, but leave us fiscally behind.
Rule #3: Quality versus Quantity; You Get What You Pay For
There is nothing wrong with spending a little extra money to obtain well-made items. Replacing the same, or similar, item can add up. But choosing an established designer, with quality clothing deserves much appreciating. Adding a Gucci LBD (little black dress), or carrying a Louis Vuitton Monogram Speedy Bandouliere bag is a wise purchase if the commitment to keep and care for the item is made. Variety can be purchased at cheap, but exemplary comes at a price.
Rule #4: You Can Be Monetarily Smart and Fashion Forward
If you don’t have the money saved up (and this is a wise decision) to invest in your maturing wardrobe, there are ways around it. Applying for a introductory 0% APR credit card can allow you to add to your wardrobe while paying it off little by little. The trick is making sure the item is paid in full before the interest rate rises. Failure to pay the card in full can result in interest fees, adding more cost in the end. Cutting from other areas like your daily Starbucks purchase, or canceling your cable subscription (sigh, sometimes you just have to choose) and setting that money aside is a great way to make major purchases without creating extra debt.
Just like everything else in the world, fashion changes—and while there isn’t anything wrong with staying in style, it’s just as notable to stay financially savvy. Investments aren’t just made in the stock markets; they can be made in your closet as well. Staying smart, and prioritizing your fashion and financial needs can allow to you be the #baus of you