Budgeting for 2014 and some things I bought in 2013. (long and rambling)

I am thinking now about my clothing budget for 2014. There are lot of factors that go into my budget.
1. 2013 was a spendy year! I bought a lot of fun (read expensive) clothing and accessories. Since you don't know me well , here are some highlights.
a) When I was working on my PhD, I told myself that I would buy a pair of Louboutin pumps when I got a real job. Well, I've been working for 3 years and the pair of basic 80 mm black Louboutin pumps finally happened this year
b) a Longchamp leather black purse as my business meeting tote
c) a very fun pink Kate Spade coat
d) a replacement: a new leather jacket, I wanted camel but fell for this oxblood one.

These were just the unplanned, expensive purchases. There were other, smaller purchases through the year.
In 2014, I want be more intentional in my buying. I like to be spontaneous, so I don't think that planning for specific items right now is something that would work for me. Plus, at this point in time, there is literally nothing that is calling my name as a must have. Am sure I will be replacing a few things during the year, but right now, I can't think of anything!
So, here's the plan: I am going to use the cash envelope system. Every month, I get $200 in cash and that is my fashion/personal shopping budget for the month. If I fall for something specific, then have to save up for it, or forfeit future budget. If I buy something online, then the cash will move from the envelope.
Oh, my saving strategy is the same way. I save first when I get the second paycheck of the month, then I don't think about how much I am spending.

This should be an interesting experiment. What do you guys think?
I am really curious to know in how much detail does everyone plan their shopping budget.

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12 years ago

lyn*

(website)

Veteran

Ooooh, you made some lust-worthy purchases this year! I plan on a pair of Louboutins for wedding shoes Eventually... eventually...

I think the envelope is an interesting system; I struggle with this personally, because I rarely use cash. It's a hassle to take the cash to put it back in the bank when I have spent it elsewhere - there's also the problem of theft.

I have tried to use tokens instead of cash: I had a bunch of chess pieces from an old set that was missing a few other pieces. The white was $100, the black was $50; and I did use this system while I was still in school - no cash needed!! The only problem was when my dad came and wanted to play chess, so spilled all my pieces out of their glass jars!

Good luck to you

Whatever works! I simply keep track of my online credit card purchases as I make them. If they get returned, I delete them, and add in any return costs in the appropriate column. Cash wouldn't work for me with my online needs, obviously. But for those who actually live closer than 3 hours roundtrip from real stores, I can see how this would work
I still have not or cannot make these large purchases I see many make, and be very happy with. I'm middle aged by now, what gives?? If not now, when?

rachylou

Those are good goals, and I like the sound of the envelope system. I should hop on your bandwagon

I have to plan by the season. I'm very mercurial and there's no helping it.

Disha

Active Member

@lyn - thanks! I enjoyed buying them and am loving wearing these. The Kate Spade coat gets so many compliments every time I wear it. Although there are people who complain it is too bright. I also like the idea of the chess pieces, but I really want to use Cash - even for online stuff by moving the cash out of the shopping envelope. If I don't use cash, my accounting can be creative :P.
@Mo - I cannot spend that much on tops and bottoms- but shoes, bags, and outerwear are fair game to me, since they last for many years and my style is on the classic side, which makes it easier to continue to wear these pieces for a while.
@Rachylou - I will keep you updated on my progress. The best laid plans...etc etc.

Jewell

Oooh, that handbag and leather jacket are TDF! Your cash envelope system sounds good, especially if you can get most of your shopping done in real stores.
I'm a seasonal planner, like rachylou. I typically have 2 lists: my seasonal six for S/S and my seasonal six for F/W (though I may be changing it to 12 after reading Mo's shopping post). I decide how much I can/will spend based on what's on the lists. I track my purchases and returns as the year goes on. I'll begin working on my lists when I finish this year's closet purge.

Jewell, I think I am beginning to see a hint of planning in my buying this F/W season, and YLF is helping me pinpoint some holes that need filling.

Most of my shopping is done locally, I am hard to fit, and even after a decade of living in USofA, still remain suspicious that stores will not accept returns (never happened to me, but still) and rarely buy anything unless I am sure I am keeping it.

Jaime

You made some great purchases this year and it will be interesting to see how the envelope works out. I did have to smile about your description of fear of return rejection- I know what you mean!

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