https://youlookfab.com/welookfab/topic/behavioral-finance-and-fasion-would-i-buy-it-today Style Advice for Fashion Lovers en-US Sat, 02 May 2026 19:16:15 +0000 http://bbpress.org/?v=1.0.2 q https://youlookfab.com/welookfab/search.php https://youlookfab.com/welookfab/topic/behavioral-finance-and-fasion-would-i-buy-it-today#post-295957 Fri, 11 Feb 2011 00:37:19 +0000 April 295957@https://youlookfab.com/welookfab/ <p>I believe that's what's known as the "sunk cost fallacy" (or something like what our grandmothers would have called "good money after bad.") You stick with something too long because you've already sunk a fair amount of time and/or money into it.</p> <p>"Would I buy this today?" is an excellent closet-cleaning question. </p> <p>Medusa, how about you toss everything that doesn't pass that test into your swap pile! </p> https://youlookfab.com/welookfab/topic/behavioral-finance-and-fasion-would-i-buy-it-today#post-295927 Fri, 11 Feb 2011 00:06:47 +0000 CocoLion 295927@https://youlookfab.com/welookfab/ <p>Thanks Medusa for this idea, this will help me move forward with some style tweaks I need to make as well as items I need to let go of. (Especially an over-supply of t-shirts!) </p> https://youlookfab.com/welookfab/topic/behavioral-finance-and-fasion-would-i-buy-it-today#post-295922 Fri, 11 Feb 2011 00:01:56 +0000 medusa 295922@https://youlookfab.com/welookfab/ <p>Rachel, I like your version even better. Nice and strict! </p> https://youlookfab.com/welookfab/topic/behavioral-finance-and-fasion-would-i-buy-it-today#post-295141 Wed, 09 Feb 2011 20:36:42 +0000 RoseandJoan 295141@https://youlookfab.com/welookfab/ <p>Ah Medusa, you can speak finance and style to me all day long </p> https://youlookfab.com/welookfab/topic/behavioral-finance-and-fasion-would-i-buy-it-today#post-295130 Wed, 09 Feb 2011 20:20:23 +0000 Rachel 295130@https://youlookfab.com/welookfab/ <p>I ask myself this question a little more harshly, "If I found this item today in a THRIFT STORE, would I buy it?" Sad to say, but there have been times when I have genuinely wrestled with getting rid of something, until I realize that my answer to that question is an emphatic NO! </p> https://youlookfab.com/welookfab/topic/behavioral-finance-and-fasion-would-i-buy-it-today#post-295097 Wed, 09 Feb 2011 19:27:59 +0000 Bianca 295097@https://youlookfab.com/welookfab/ <p>Great advice! </p> https://youlookfab.com/welookfab/topic/behavioral-finance-and-fasion-would-i-buy-it-today#post-295096 Wed, 09 Feb 2011 19:26:10 +0000 Srujana 295096@https://youlookfab.com/welookfab/ <p>*lightbulb* </p> <p>Brilliant way to look at things...thanks for sharing! </p> https://youlookfab.com/welookfab/topic/behavioral-finance-and-fasion-would-i-buy-it-today#post-295066 Wed, 09 Feb 2011 18:26:20 +0000 biscuitsmom 295066@https://youlookfab.com/welookfab/ <p>I totally agree with the others....thank you so much for posting it! </p> https://youlookfab.com/welookfab/topic/behavioral-finance-and-fasion-would-i-buy-it-today#post-295047 Wed, 09 Feb 2011 18:06:02 +0000 Isabel 295047@https://youlookfab.com/welookfab/ <p>This is a stroke of genius ! ( I am a total behavioral finance geek ! ) </p> https://youlookfab.com/welookfab/topic/behavioral-finance-and-fasion-would-i-buy-it-today#post-294670 Wed, 09 Feb 2011 01:54:10 +0000 medusa 294670@https://youlookfab.com/welookfab/ <p>I'm so glad the forum exists - I was so excited about my insight, and there's almost no one else in my life who would appreciate some weird connection between investing and style. I feel like the world's biggest geek (in a good way).</p> <p>Lynne, no, it's not my field, but I really enjoy reading about it. </p> https://youlookfab.com/welookfab/topic/behavioral-finance-and-fasion-would-i-buy-it-today#post-294254 Tue, 08 Feb 2011 08:41:43 +0000 Lynne 294254@https://youlookfab.com/welookfab/ <p>Genius, Medusa. I suspect half my closet is about to go......'would I buy it today?', (nope, now that I know I never wear it...). As opposed to 'would I marry hime today?' (yes!)</p> <p>Behavioural finance sounds fascinating - is that your subject? </p> https://youlookfab.com/welookfab/topic/behavioral-finance-and-fasion-would-i-buy-it-today#post-294201 Tue, 08 Feb 2011 04:35:07 +0000 RandomThoughts (Andrea) 294201@https://youlookfab.com/welookfab/ <p>Love it! </p> https://youlookfab.com/welookfab/topic/behavioral-finance-and-fasion-would-i-buy-it-today#post-294141 Tue, 08 Feb 2011 02:42:49 +0000 Deb 294141@https://youlookfab.com/welookfab/ <p>Absolutely genius to think of this. Thank you for passing it along! </p> https://youlookfab.com/welookfab/topic/behavioral-finance-and-fasion-would-i-buy-it-today#post-294131 Tue, 08 Feb 2011 02:37:20 +0000 yublocka 294131@https://youlookfab.com/welookfab/ <p>Medusa that is a great piece of advice. I am also planning on going through my wardrobe soon as it is feeling a bit stale and not exciting me at the moment. I'm going to ask this question of pieces I'm not sure about! </p> https://youlookfab.com/welookfab/topic/behavioral-finance-and-fasion-would-i-buy-it-today#post-294127 Tue, 08 Feb 2011 02:33:15 +0000 kellygirl 294127@https://youlookfab.com/welookfab/ <p>That's a great way to look at things, Medusa! I think I'll be able to put it to use. Thanks for sharing. </p> https://youlookfab.com/welookfab/topic/behavioral-finance-and-fasion-would-i-buy-it-today#post-294124 Tue, 08 Feb 2011 02:31:41 +0000 Sveta 294124@https://youlookfab.com/welookfab/ <p>I like it, Medusa, very wise mantra. </p> https://youlookfab.com/welookfab/topic/behavioral-finance-and-fasion-would-i-buy-it-today#post-294123 Tue, 08 Feb 2011 02:30:27 +0000 MNsara 294123@https://youlookfab.com/welookfab/ <p>Excellent idea. I have lots of those tough-to-decide-about items to work through. I think I'll try asking myself that question and see if it helps.</p> <p>Thanks, Medusa!! </p> https://youlookfab.com/welookfab/topic/behavioral-finance-and-fasion-would-i-buy-it-today#post-294107 Tue, 08 Feb 2011 02:14:28 +0000 mumtojessandluke 294107@https://youlookfab.com/welookfab/ <p>Awesome thinking Very powerful, thanks for sharing. I might incorporate some of that thinking in my next wardrobe clear out.<br /> My shape is still fluctuating though, so I'm finding it a little difficult to get rid of things. </p> https://youlookfab.com/welookfab/topic/behavioral-finance-and-fasion-would-i-buy-it-today#post-294106 Tue, 08 Feb 2011 02:11:51 +0000 catgirl 294106@https://youlookfab.com/welookfab/ <p>That is absolutely amazing advice for me as I clean out my wardrobe. I tend to hoard on the off-chance I will love something again. On the other hand, I've given away a couple of things I regret, and those are what I dwell upon, instead of the piles of junk to sort through...</p> <p>THANK YOU. </p> https://youlookfab.com/welookfab/topic/behavioral-finance-and-fasion-would-i-buy-it-today#post-294099 Tue, 08 Feb 2011 02:03:09 +0000 medusa 294099@https://youlookfab.com/welookfab/ <p>Today I had a sudden inspiration. I was trying on a sweater that I have that's a bit too big and thinking about whether or not I should get rid of it. </p> <p>I remembered something I read about research on behavioral finance: investors often don't want to sell investments that aren't doing well, because this means acknowledging a bad decision and that's difficult to do - people prefer to hold on to the hope that the investment might rebound and do well again. The advice usually given to counteract this tendency is to evaluate the investment as if it were new: would I buy this today?</p> <p>I realized that thinking this way could really help me pare down my closet. I've learned how to be selective about new clothing. In the case of today's sweater, there is absolutely no way I would buy it if I were shopping today - it doesn't fit! Now it's much easier to see that I should get rid of this sweater.</p> <p>Now I have a new mantra for closet cleanout: would I buy it today? </p>