Saturday, February 6, 2010

Coming in under budget

In January I decided to put myself on a clothing budget. Now I know what you probably think, I needed to put myself on a budget to rein in my spending. Actually it's the opposite, I put myself on a budget so I would spend.

Looking back, I realized some of my challenge with fashion is that I don't like to shop. I was too cheap to invest in nice pieces and I'd wear my clothes until they were unwearable. My workhorse dress pants for example were close to 7 years old.

I felt guilty about spending on clothing, I didn't see it as a necessity. I worried about people in the world who didn't own a pair of shoes, much less mid-calf boots with a cute little heel. I started realizing I was being a little unreasonable with myself, so I did some research on setting an appropriate budget. Many financial advisers say 2-7% of your gross income is a reasonable amount for clothing. No wonder why $200-300 a year (including shoes, coats and gear) wasn't getting me far!

So I'm resolved to spend a little more. I actually look forward to shopping now and like to plan what I'll buy with my monthly budget. It must be my new interest in my fashion, because so far the $100 a month hasn't been hard to spend!

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