YouLookFab Forum » Topic: How do you set your budget?

YouLookFab Forum » Topic: How do you set your budget? https://youlookfab.com/welookfab/topic/how-do-you-set-your-budget Style Advice for Fashion Lovers en-US Mon, 20 Apr 2026 23:06:34 +0000 http://bbpress.org/?v=1.0.2 <![CDATA[Search]]> q https://youlookfab.com/welookfab/search.php Laura1975 on "How do you set your budget?" https://youlookfab.com/welookfab/topic/how-do-you-set-your-budget/page/3#post-1991992 Mon, 14 Jan 2019 10:24:26 +0000 Laura1975 1991992@https://youlookfab.com/welookfab/ I read a few years back about setting your clothing budget at 5% of take home pay and decided I would go with that. That 5% is out of my own wages. After all household, child related, saving and general living expenses have been taken care of what we have left in our own accounts is ours to do with what we see fit. I spend mine mostly on clothes and meals and drinks out. My husband spends his mostly on gadgets and music downloads. Keeps us both happy. Recently the 5% hasn't felt like enough but I'm coming out of a period of wardrobe building and into one of maintenance so I'm keeping it there for now. Anonymous on "How do you set your budget?" https://youlookfab.com/welookfab/topic/how-do-you-set-your-budget/page/3#post-1991957 Mon, 14 Jan 2019 06:52:20 +0000 Anonymous 1991957@https://youlookfab.com/welookfab/ I knew my husbands retirement would mean being more careful of spending. I did not realize that he would rebel against my frugal spending ways of over 40 years. His attitude is " throw it out and get a new one". I keep telling him that new does not mean better, usually inferior, but he does not yet believe it. For me retirement means being more frugal than ever. Spending too much on the wardrobe means not being able to travel, etc. stock up before retirement hits. featherwitch on "How do you set your budget?" https://youlookfab.com/welookfab/topic/how-do-you-set-your-budget/page/3#post-1991939 Mon, 14 Jan 2019 03:55:46 +0000 featherwitch 1991939@https://youlookfab.com/welookfab/ I think about 5% of income is right. For many years, I spent a lot less than that, but I had a really casual workplace wardrobe, and was a young professional in a somewhat expensive metro area.  I decided in the past few years that I needed better professional attire, and I also lost weight. This pretty much meant an entirely new wardrobe, and I spent probably 10% for the first time in 15 years. I am not anticipating that I'll need to spend that much again for awhile!  As for budget, I do what some here have already stated: pay for the non-negotiable items (housing, savings for the future, utilities, insurance, basic food, minimum car, my beloved dog), and set an annual savings goal, such as increase my cash savings account by X dollars this year, and after that, I spend what I have left on recreation, activities, vacation, clothing, food and wine above the minimum, a better car, restaurants, gifts/others, etc. Works for me, and I haven't done a budget since I set up the basic principles.  Penny on "How do you set your budget?" https://youlookfab.com/welookfab/topic/how-do-you-set-your-budget/page/3#post-1991937 Mon, 14 Jan 2019 03:50:00 +0000 Penny 1991937@https://youlookfab.com/welookfab/ Really enjoyed this thread - three years ago, I started tracking what I spend, and realized that I could comfortably spend a fair amount more (after having run the kinds of numbers others have mentioned). Interestingly, the act of tracking helps me limit my purchases: I tend to prefer to focus on good quality, versatile pieces. This year, I spent double what I did in the prior two years to upgrade my jewelry (triple-strand Akoya pearl bracelet, double-strand graduated pearl necklace, two pairs of double-pearl earrings, and a sculptural silver cuff and silver ring), which I don’t expect to be needed in future years. In short, a flexible approach works well for me, and keeping track helps me ensure that my purchases are in line with priorities, wardrobe goals, and overall spending. Stagiaire Fash on "How do you set your budget?" https://youlookfab.com/welookfab/topic/how-do-you-set-your-budget/page/3#post-1991777 Sun, 13 Jan 2019 20:05:28 +0000 Stagiaire Fash 1991777@https://youlookfab.com/welookfab/ I didn't know my way of dealing with money had a name. Guess I'm a wealthy barber, though I'm not feeling the "wealth". Anonymous on "How do you set your budget?" https://youlookfab.com/welookfab/topic/how-do-you-set-your-budget/page/3#post-1991774 Sun, 13 Jan 2019 19:35:20 +0000 Anonymous 1991774@https://youlookfab.com/welookfab/ Bj1111 made me laugh too!!!! taylor on "How do you set your budget?" https://youlookfab.com/welookfab/topic/how-do-you-set-your-budget/page/3#post-1991755 Sun, 13 Jan 2019 18:34:12 +0000 taylor 1991755@https://youlookfab.com/welookfab/ Bj1111... that’s soooo funny.. I feel the same! Jenni NZ on "How do you set your budget?" https://youlookfab.com/welookfab/topic/how-do-you-set-your-budget/page/2#post-1991601 Sun, 13 Jan 2019 04:34:24 +0000 Jenni NZ 1991601@https://youlookfab.com/welookfab/ Hi Gretchen I have been thinking more. In my previous musings my spending had screeched to a halt when we became unexpectedly poorer when I was 35/36. We finished up borrowing some money from the bank against the house which we did own- we just increased the mortgage to get us out of the hole until I was able to work more again once the third baby got older. My wardrobe had become very tatty so I did buy 2 nice outfits of matching top and skirt- the shirts could also be jackets as well and I kept those outfits many years- still have one in holding zone in fact and the top still fits as a jacket if left open, which I am considering. It is bright tropical florals which are, still, or back, on trend I think. The next tranche of time I'm thinking about was from my perhaps late 30s until about 2008- let us say ages 39- 47. Income was reasonable and the ages of the kids was 9,6,3 at the start then 17,14,11 at the end. Weight was stable. I think I did buy some nice clothes in this time but quite a small number, and "good" brands( not fancy international designers but highish end NZ designers) were only ever bought on sale. In NZ we have a good chain of department stores we call Farmers. I don't know what US level it would be- better than Target and K-mart but nowhere near Nordstrom's? Maybe JC Penney type level? That store was my friend for myself and the kids. The girls became allowed an input into the clothing I would buy them but they were not allowed "trendy" brands if those were costly. If those were cheaper I would be willing. I was working pretty hard as was Neil and I thought if I was not buying fancy brands I was blowed if I would buy them for them! We sought sales fairly well. I think I just kept my savvy about it all. Then once the first one hit 18 and university she was to buy her own clothes. She was not being charged board as she was living at home and she did have weekend and holiday work so buying her own clothing seemed only fair. We were supporting a roof over her head and all her at-home food. Will get onto 2008-9 onwards soon if you are not bored! bj1111 on "How do you set your budget?" https://youlookfab.com/welookfab/topic/how-do-you-set-your-budget/page/2#post-1991567 Sun, 13 Jan 2019 01:46:42 +0000 bj1111 1991567@https://youlookfab.com/welookfab/ What is this word buh-jet??? Janet on "How do you set your budget?" https://youlookfab.com/welookfab/topic/how-do-you-set-your-budget/page/2#post-1991086 Fri, 11 Jan 2019 18:21:50 +0000 Janet 1991086@https://youlookfab.com/welookfab/ I don’t have a set budget for wardrobe, and never have, even when I was a poor student. I’ve always kind of known where I am with spending and adjust when I know I’ve been on a bit too much of a splurge. (I also do not own a scale, and my attitude towards tracking my weight is similar, hmm, I wonder about this correlation!) I have two credit cards (one a department store card, one a general major credit card) that are used for clothing — they are paid off every month, and generally stay below a certain amount. If one is up in a given month, I’ll likely ease up the shopping the next month. That fits in with my usual style of shopping anyway — I have some months I barely look and others where I hit the sales or look for a seasonal refresh. Budgets are a highly individual thing. I don’t see anyone being judgmental here, and I would certainly hope we could all respect that we each have different styles and priorities. Anonymous on "How do you set your budget?" https://youlookfab.com/welookfab/topic/how-do-you-set-your-budget/page/2#post-1991066 Fri, 11 Jan 2019 17:37:32 +0000 Anonymous 1991066@https://youlookfab.com/welookfab/ I wanted to show an example of a "hobby" budget item in action!  I just purchased this jacket.    The cost of this rain jacket will be deducted from hiking expenses (gear, gas, lodging) and not from my wardrobe budget!   The interesting thing is that hiking expenses are open-ended.  I don't have enough concrete data to nail down a number and I don't want to at this point in time.   YAY ME! Mel on "How do you set your budget?" https://youlookfab.com/welookfab/topic/how-do-you-set-your-budget/page/2#post-1990902 Fri, 11 Jan 2019 08:51:03 +0000 Mel 1990902@https://youlookfab.com/welookfab/ I use the 5% rule and it works well for me. However, I get a lot of nice hand-me-downs from my friends. So my money is spent mainly on the things I don't get from my friends, such as wardrobe basics, shoes, dresses, and statement pieces that express my own personality.  I also like to shop in huge thrift stores and used clothing markets, where the clothing is basically free if you can find it (I pay an average of two dollars for each item). So I guess your budget depends alot on your shopping style and real needs. But having at least a fixed amount each year has personally helped me.  anchie on "How do you set your budget?" https://youlookfab.com/welookfab/topic/how-do-you-set-your-budget/page/2#post-1990901 Fri, 11 Jan 2019 08:27:10 +0000 anchie 1990901@https://youlookfab.com/welookfab/ I do have budget and try sticking to it, but then life happens and I have to readjust. Clothing budget is the one that gets hit if money is needed elsewhere. 2019 is going to be lean year clothing wise, but that is fine, I have more than enough. Jane on "How do you set your budget?" https://youlookfab.com/welookfab/topic/how-do-you-set-your-budget/page/2#post-1990894 Fri, 11 Jan 2019 07:37:00 +0000 Jane 1990894@https://youlookfab.com/welookfab/ I don’t have a budget but I do keep within parameters that work for me and my family. I think the % is interesting. I couldn’t handle the distraction of not feeling appropriately dressed at work, so most of my budget goes on work clothes. DH and I have been married for 21 years. For the early years we kept a completely joint account but since he started his own business 8 years ago, we’ve had separate accounts and a shared account that we both contribute to. That has released me from a responsibility of having to consider if I’m spending too much on an item or too much over a period. DH is relaxed about money that he wouldn’t ever say I’d spent too much - so I reckon I’m an okay self regulator! Really interesting thread. Gretchen on "How do you set your budget?" https://youlookfab.com/welookfab/topic/how-do-you-set-your-budget/page/2#post-1990893 Fri, 11 Jan 2019 07:08:24 +0000 Gretchen 1990893@https://youlookfab.com/welookfab/ TG - i’d never heard the Wealthy Barber approach. Interesting! Canada - great idea! Maybe I’ll tell my husband that clothing budget includes the items and the travel to buy them close to the source. Quick trip to Florence to buy a leather jacket anyone? Style Fan on "How do you set your budget?" https://youlookfab.com/welookfab/topic/how-do-you-set-your-budget/page/2#post-1990828 Fri, 11 Jan 2019 01:09:15 +0000 Style Fan 1990828@https://youlookfab.com/welookfab/ TG, I used the Wealthy Barber approach for years. Irina on "How do you set your budget?" https://youlookfab.com/welookfab/topic/how-do-you-set-your-budget/page/2#post-1990823 Fri, 11 Jan 2019 01:04:53 +0000 Irina 1990823@https://youlookfab.com/welookfab/ My goal for the clothing budget has always been around 5% of my wages before taxes. Some years I was close, some like last year, over for a number of reasons- style shift, new job, size adjustment. This year I’m again planning a budget of 5% but want to try taking a few breaks from shopping. I’m concerned that buying is becoming a hobby and not fashion. Oh, my never ending list of “needs” and “wants”. I should put more effort in creating outfits from what I already have. Having fun with fashion while on the budget is a balancing act and I’m not terribly good at it Helena on "How do you set your budget?" https://youlookfab.com/welookfab/topic/how-do-you-set-your-budget/page/2#post-1990802 Fri, 11 Jan 2019 00:28:13 +0000 Helena 1990802@https://youlookfab.com/welookfab/ We don't have a budget per se ... in general we use the "Wealthy Barber" (Canadians will know) approach to budgeting which is at a very over-simplified level, every month save a percentage of your earnings for the long term, then do your necessary expenses, then enjoy the rest as you see fit - everything but the essentials clothing-wise comes from the leftover-enjoy bucket. It's always worked for us; mind you, we are pretty frugal by nature and also lazy about tracking things I'd love to know what my actual spend is though, and to have a set number that I knew for sure I was fine to blow for the year ... hmm, maybe a project for me this year to figure out! Canada on "How do you set your budget?" https://youlookfab.com/welookfab/topic/how-do-you-set-your-budget/page/2#post-1990800 Fri, 11 Jan 2019 00:25:59 +0000 Canada 1990800@https://youlookfab.com/welookfab/ Very interesting topic. Now that I'm retired, my clothing budget IS lower but fashion is a lot more fun without corporate restrictions. Quality of what I buy has increased since reading tips here on YLF. I say enjoy whatever your budget allows ( Runcarla, I loved your story!). If I spent what my husband allocates for his golfing hobby, I'd be flying to Paris for shopping excursions every three months! karen13 on "How do you set your budget?" https://youlookfab.com/welookfab/topic/how-do-you-set-your-budget/page/2#post-1990795 Fri, 11 Jan 2019 00:13:31 +0000 karen13 1990795@https://youlookfab.com/welookfab/ I am reading this with interest because I don't ahve a clothing budget, and like Gretchen and SarahD8, I think it might be a good idea. I have had to replace almost all my clothes in the past 2 years because of a large weight change, so I just bought what I thought needed or what caught my eye (I'm pretty frugal and have a casual life, so it wasn't that bad). I'd like to be more disciplined now that I have a clearer sense of what I like and of what is out there (courtesy YLF). Maybe this is the year I start to track both wears and spending. It certainly seems to pay dividends for those who do. Stagiaire Fash on "How do you set your budget?" https://youlookfab.com/welookfab/topic/how-do-you-set-your-budget/page/2#post-1990748 Thu, 10 Jan 2019 22:26:31 +0000 Stagiaire Fash 1990748@https://youlookfab.com/welookfab/ Gretchen, I heard that! And actually, I had just decided, for other reasons, not to order that stuff. But I'm not getting the dress either. There are already several orders on the way to me. Lesley on "How do you set your budget?" https://youlookfab.com/welookfab/topic/how-do-you-set-your-budget/page/2#post-1990725 Thu, 10 Jan 2019 21:52:43 +0000 Lesley 1990725@https://youlookfab.com/welookfab/ I have a pretty tiny annual budget! But then again, I also work from home, so no need for a full professional wardrobe which tends to have spendier items. I do have enough professional things for about a week of work, in case I have to actually have some face time with a client or colleague. I divide my annual amount into two chunks: One I can start using in March, and one I can start using in August. I have to say, having a small amount to work with probably sounds like a nightmare to a lot, but it has really helped me hone in on my style, my priorities, what needs to be replaced and what kinds of things I need to "advance my look" as I say to myself. I am not immune to temptation for things not on my list, but I do it about a million times less when I have a finite amount of money to spend and a really specific list of what I want and need every season. PS, I also keep running lists of what I need and want projected into the future, eg, if I think something wintry will need replacement but I haven't successfully replaced it yet, onto the list for Fall 2019 it goes. It helps to not start from scratch when the fun pre-season sales start. Gretchen on "How do you set your budget?" https://youlookfab.com/welookfab/topic/how-do-you-set-your-budget/page/2#post-1990704 Thu, 10 Jan 2019 20:58:59 +0000 Gretchen 1990704@https://youlookfab.com/welookfab/ Thank you all for such great content - this is really helpful!  Angie, Laura - My husband and I have an agreement: I don't ask how much he spends on cycyling equipment, and he doesn't ask how much I spend on clothes! RunCarla, and Sterling - I bow to you your budgeting expertise. I used to be much more meticulous, and still do a solid job on the over all household requirements. It's the extras that don't get managed, and maybe need some attention JenniNZ - would love to hear your further thoughts. It actually might be a good separate thread - how did your family influence your approach? Or broader, how do you approach wardrobe when you hit a financial downturn?    CardiffGirl - I LOVE the idea of a joy budget. Definitely going to play with that one! Suz and Lisa P - kudos on finding the way to manage multiple jobs to support your goals.  Isabel and Staysfit - I really like the idea of a separate bank account.  SarahDS - You brought up exactly what I've wondered about. Would a more clear budget help me either feel more comfortable spending, or remove some of the times where I buy 5 cheaper things when 1 more expensive one would be a better fit.  Great ideas friends - keep them coming!  Suz on "How do you set your budget?" https://youlookfab.com/welookfab/topic/how-do-you-set-your-budget/page/2#post-1990703 Thu, 10 Jan 2019 20:53:43 +0000 Suz 1990703@https://youlookfab.com/welookfab/ Carla, well, if you grow vegetables, you are doubly justified in merging groceries and gardening!!  Nodding with Sterling. You earned your relaxation! Enjoy it. I admire your frugal ways.  Style Fan on "How do you set your budget?" https://youlookfab.com/welookfab/topic/how-do-you-set-your-budget/page/2#post-1990692 Thu, 10 Jan 2019 19:59:02 +0000 Style Fan 1990692@https://youlookfab.com/welookfab/ Enjoy your gardening Carla!  We must shop at the same grocery store.  I use my points to buy skin care and makeup.   Clothing is one of my hobbies.  Yoga is another.  I have thought of getting a part-time job so I could increase my clothing budget.  It would have to be seasonal so I could still travel.   Anonymous on "How do you set your budget?" https://youlookfab.com/welookfab/topic/how-do-you-set-your-budget/page/2#post-1990691 Thu, 10 Jan 2019 19:42:52 +0000 Anonymous 1990691@https://youlookfab.com/welookfab/ You earned it, RunCarla.  Enjoy.   Carla on "How do you set your budget?" https://youlookfab.com/welookfab/topic/how-do-you-set-your-budget/page/2#post-1990689 Thu, 10 Jan 2019 19:37:18 +0000 Carla 1990689@https://youlookfab.com/welookfab/ LOL, Suz! I try to bury my gardening expenses under 'Groceries', since our local grocer has an excellent garden center and I get 'points' that I can then spend on groceries (or more garden stuff!). Our household 'Recreation' budget is large at 25% and non-negotiable! It splits 13/12 between sports and music. The biggest costs are memberships and lessons, since we have the 'infrastructure' of equipment and instruments. On the other hand, our transportation expenses are comparably low at 6% (insurance, gas, maintenance) and until 5 years ago we were a 1 vehicle family (30 years). DH and I set goals to be mortgage free and to save for retirement and the education of our children in our twenties, so our spending/budget was designed with those goals in mind. Frankly, we were so austere in those early days, the bank called to tell us we had over contributed and needed to pace our savings strategy better. Now that we are debt free, and in our seniority - we are a bit YOLO, and that is reflected in our spending/budget for the fun stuff. This April DH and I are due for a budget review since it will be one year since we retired and I will have new and very different budget data to work with! Bonnie on "How do you set your budget?" https://youlookfab.com/welookfab/topic/how-do-you-set-your-budget/page/2#post-1990674 Thu, 10 Jan 2019 19:14:29 +0000 Bonnie 1990674@https://youlookfab.com/welookfab/ How much to spend is a good question. Five years ago I had very few clothes because of full time traveling in a motorhome. Then I settled into a retirement community with lots of social opportunities and I started to build a wardrobe. I spent what I think is a lot of money the first three years. Each year, I spent less than the year before so that last year's total was less than half of the first year's total Now I really don't need anything. But shopping and adding new clothing is fun. What I spent last year is a comfortable amount, so I guess I'll use it as a guideline.  Anonymous on "How do you set your budget?" https://youlookfab.com/welookfab/topic/how-do-you-set-your-budget/page/2#post-1990672 Thu, 10 Jan 2019 19:11:41 +0000 Anonymous 1990672@https://youlookfab.com/welookfab/ Suz is correct.  When I took up hiking, I created a new budget item.  This budget item reflected expenses related to hiking (gear, gas, lodging).  None of those expenses came out of my wardrobe budget.  This was a conscious decision on my part.   The key is to have something that works for you and your lifestyle.  There is no right or wrong way to budget.  Budgets get tweaked all the time.  When I lost weight in 2017/2018, I literally needed a new wardrobe.  I tried to make due within the constraints of the original budget.  Big mistake.  Those constraints were too restrictive.  I eventually conceded that fact and nearly doubled the original amount.  That made my life so much easier.  It did mean that a few House repairs were rescheduled for 2019.  My choice.   Stagiaire Fash on "How do you set your budget?" https://youlookfab.com/welookfab/topic/how-do-you-set-your-budget/page/2#post-1990668 Thu, 10 Jan 2019 18:53:45 +0000 Stagiaire Fash 1990668@https://youlookfab.com/welookfab/ it's hard to for people in different countries to compare such percentages, because what expenses you need to cover with your "take-home pay" varies across countries. (Cough*health insurance*cough) yes! The "Big Mac index" is based on the idea that take-home pay needs to be divided up differently in different countries.  <a rel="nofollow" href="https://www.bigmacindexconverter.com/">https://www.bigmacindexconverter.com/</a> Just for interest, obviously off-topic on this site. <div> </div><div>Your second paragraph strikes a chord with me too. I love this dress (finds isn't working--sorry), but find it much easier to buy several other less expensive pieces that add up to the price of the dress. I've been going back and forth over that in my head ever since I posted my goals, wondering just how many pieces I need to make that "capsule" of berry-colored clothing that will let me wear color complements and tonally-matching outfits. I think the cheap stuff (in price--I don't think it's cheaply made) wins, because there are of course the other lovely finds in this colorway that I included on that post, each for around the same price as the dress. For the price of just one of them, I can have the capsule pretty much complete. If I got just the dress, or just the pants, I wouldn't have the other items to get that effect. </div>