Pricing for designer clothing is soaring above the clouds. There are brands which have clothing that cost thousands of dollars for a single top!
People think that going clothes shopping frugally in this age is impossible. However, not to worry, as we have several ways you can get great clothing on a budget. Here is a list of well-researched tips and tricks that financial experts themselves swear by, that can help anyone splurge on a nice fit even if they are tight on finances!
Shop From Sustainable Fashion Brands
Yes, sustainable high-quality clothing brands may cost you an arm and a leg in some cases even if someone opts to buy clothing from a brand which is not that well-known.
However, it is important to look at the big picture. Clothing from sustainable brand is a product of some great materials that are sourced from around the world, which have been crafted by clothing experts.
Not only does sustainable clothing make for garments that are smooth and comfortable to the touch, but they are also much more durable, compared to lower quality clothing.
Since durable clothing has high longevity, many studies indicate that they have a positive impact on the environment as well, due to the low possibility of disposing the clothes early on.
Implement the 5% Budgeting Rule
The 5% income rule states that you should allocate only 5% of your monthly income to any short-term savings and you can allot this to buying for clothes.
According to the University of Washington, not only will this allow you to stay within a proper budget, but having some money already set aside for going clothes shopping will prevent you from taking money out of your emergency piggy bank.
Buy Clothes That Are Out of Season
A rule of thumb for anyone planning to spend frugally on clothes is to restrict yourself to get clothes that are not currently in the season at the moment.
Since such types of garments are not currently in demand, they would either be priced way below their normal costs or in most cases, would be a part of any clearance sale or discounts.
When shopping for summer clothes during winter time or vice versa, there is also the high chance that you might find a BOGO deal on some clothes, giving you two shirts at the price of one, which is definitely a win-win!
Assign a Proper Budget
A great practice to spend money on clothes while on a tight budget is to make a fleshed-out list which consists of all your total income and set aside some money keeping in mind your spending habits.
Although, the 5% rule is very effective when shopping for anything on a budget, that is not the only way. When it comes to spending habits, there is no one that knows more than the person doing the spending.
A great way to utilize this information is to track your expenses and set some money aside to shop on clothes according to your tendencies, so that you are able to manage your spending behavior efficiently and shop for clothes without having to go over.
Here are some great expense trackers that can help you get started in no time!
• Easy syncing with bank accounts and different wallets.
• Provides budgeting insights in the form of ‘mintsights.’
• Displays net worth and credit score.
• Ability to sync bank accounts, loans and credit cards between multiple people.
• Automatically categorizes different expenses.
• Provides user with the option to create custom categories.
• All-in-one place to manage all subscriptions and easy cancellation option.
• Provides reminders for upcoming bills.
• Can be synced with different bank accounts and digital wallets.
If you subscribe to any magazine or clothing company newsletter, chances are that you might have received a coupon or two in the mail. However, they are not as frequent and effective in terms of saving up, compared to coupon books.
These coupons may provide you with a 20 or 30% discount, but why settle with that when you can push the envelope even further?
That’s right, there is a way to save hundreds of dollars on purchasing for clothes: coupon sites. According to a study done by the performance marketing association, around 55 million Americans use online coupons when making a purchase.
If you are planning to splurge on clothing but are worried you do not have enough money set aside, be sure to follow the above-mentioned tips and you will find yourself struggling with making space in your wardrobe for more clothes!
Published on: June 23, 2023