How do you figure out a clothing budget for yourself? - YouLookFab Forum

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How do you figure out a clothing budget for yourself?

nicoleb

(website)

Veteran

I've noticed quite a few of you on here make references to your clothing budget for the month etc. I think this might be something i'd like to try. How do you figure out what it should be? I"m sure it's different for everyone but i'm just looking for ideas. I'm guessing you start by figuring out your income - bills and expenses and figure out a % from what's left? If so how do you decide what your % should be?

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31 replies

Latest reply was from Charmian

MsMary

Veteran

I set my clothing budget the way I set all my budget line items - I track my spending in every category and then set my budget at a realistic amount, based on past "actual" spending plus or minus depending on whether I want to cut back or loosen up a little.

Mo

(website)

Veteran

I think I read somewhere around 5% of your income? But honestly, I pulled my number out of my [ahem] hat. This last year I went with $250 bi-monthly. I think it also depends on your career honestly. Having no need for career clothes (wearing a uniform when I'm working) means all my budget goes for casual and going out looks.

Isis

Veteran

Sal of alreadypretty.com had a post this year that gave the figure of 3-10%, but she pointed out that it is an arbitrary number. Totally depends on your work, savings goals, if you are paying off debt, etc.

It's an interesting read:

http://www.alreadypretty.com/2.....drobe.html

lyn*

(website)

Veteran

I calculate it out to be equal to the cost of all the drinking/partying that my peers are doing that I do not do.

Queen Mum

Veteran

love it Lyn!
I have not been good at keeping to my stated budget, but I really need to start doing better. I figure it this way.. I want the average cost per wear for my clothing items to be $1. Given that most days I am wearing 5 pieces of clothing (pants, top, topper, shoes, bag) that would be $5 per day or $150 per month. Add in another $50 to make it a nice round number and account for bras, panties and accessories, and viola- $200 per month. Now if I can just keep to that!

Jewell

Veteran

You posted a great question, and I'm really interested in the different approaches everyone takes.

I, personally, find it hard to set a dollar amount at this stage in my wardrobe building. I'm a bargain hunter extraordinaire, but I don't mind shelling out cash for quality. I find it easier to work from a list. Another community member mentioned allowing herself one purchase a month. The way I see it that would work out to six purchases for spring/summer and six for fall/winter. I don't necessarily plan to spread them out one per month, though. I've made a list of items I want/need and I'll check them off as I go. Things that aren't on my list (or exceed my # of purchase allowances) will be considered "not in my budget." For instance for spring/summer I want a striped scarf. I found a great one for $12, but Angie posted a lovely one in her blog post the other day that's $40. No matter which one I decide to get, that item will count against my six allowed purchases for spring/summer. I think this plan will force me to really think about each purchase (since it counts against my allowances) thereby cutting out my impulse buys.

Transcona Shannon

Veteran

I love that you posted this thread Nicole 'cause I'm interested in seeing what everyone does. I'm hoping to learn something here!

lyn*

(website)

Veteran

Like Queen Mum - I try to get my cost per wear down to approximately $1/item; but this is really easy for certain things - boots; jackets; etc.

Dresses I'm willing to tolerate $3-5 CPW.

Currently, my CPW is approximately $0.20 CPW for handbags/purses ... and my steal of a pair of boots are down to about $0.30 CPW ... I have dresses that still sit at $10 CPW though. Grr.

Sally

Veteran

I really need to work out a method for this. I dont record my expenditure on clothes but I know people who do. I like the cost per wear method. My new years resolution is to find staples that end up being about $1 per wear. I think it does depend on your lifestyle and what money is available.

Lisa

Veteran

I'm really bad about a clothing budget but this is a great question. This past year I had no set budget. But I tracked my spending every month. I was shocked. For this year my plan is to half what I spent last year. If I spend even less, even better. But I needed a reference to figure out what I was spending. Perhaps you can pick one month and one amount and see how you do? If you over spend reassess if the monthly number was too low. Or it you just hit a season with a lot of wardrobe holes? Then maybe you can adjust until you hit a number that works for you.

rosee

Veteran

I haven't really been budgeting but I have been keeping track of my expenses since 2004 and my clothing expenses have been from $330 to almost $4000 per year depending on the year (so $27 to $330 per month in those years). A more realistic number is about $200 per month but I will try to follow the 5 to 10 % formula from now on, since my income really varies.
Influences that affected my expenditures included whether I was doing a lot of replenishing of basics, whether I've changed sizes, how many items I've found thrifting, etc. This past year was an expensive year but 2012 should be a pretty frugal year (at least the first 6 months while SYC). Other expenditures affect how much I can allocate to clothing too.
It really will depend on the person too but I like Sally's formula linked above; it should prevent major financial problems b/c being broke ain't stylish.

Sally

Veteran

I just did the 5% formula and realised I wasn't spending enough! Thanks guys another excuse to go shopping. I do think I fritter money away so if I take that sum I can spend perhaps I could plan from the beginning of the year what I am going to buy.

lyn*

(website)

Veteran

Secret reveal - the university allows us $5000/yr for eating out and gas and stuff because we're never home.

I halfed that and spend half on clothes. Shh.

Anonymous

Brilliant Lyn! I would do the same thing! I am not keeping track because I don't want to know what I'm spending (shhh!) but I skim off the grocery money about $15 a week. I find it impossible to *save* this money up for a major purchase because somebody always has to join a sport or go to the doctor or the car needs new tires. I have a theory that this is why a lot of SAHMs buy lots of cheap items instead of investing in a few good pieces.
However, I used Christmas as an excuse to get my new moto jacket ($98) and I'm using a portion of the check my parents sent to fill some holes. All with the hub's blessing of course. I also opened a new account with Chase bank and after 6 months of jumping through a few hoops, they will *reward* me with $150. I did that after joining YLF so that I would have a lump sum for something great. I know other ladies' have sold some of their items on Ebay, but my wardrobe rejects were pretty worthless.

lyn*

(website)

Veteran

My dad skims off the top of every pay cheque automatically and it goes into a "fun fund" where he can use it to do whatever he wants. My mom also does this. It's only a small amount of money, but they can save up if they want.

My dad can't save at all - he buys DVD's and things like that. My mom recently saved up for a fabulous leather jacket!

nicoleb

(website)

Veteran

Thanks everyone for the replies! I love reading through all the ideas and how everyone figures it out.

And Claire i know exactly what you mean. I'm not a SAHM but it's easy for that extra cash to go to someone else or what have you. There's always *something* isn't there?

Looks like i'm going to have to do some math... >.>

Mo

(website)

Veteran

I wanted to add that CPW factors in for me, too. I expect $1 CPW on most things eventually, too. For now, I want to get everything below $20 for starters. I have a good half dozen items that are still over that, but it's because they are new, or special occassion dresses.

Queen Mum

Veteran

regarding cost per wear... Notice I said "average" cost per wear. I don't expect to wear a $60 dress 60 times. I'd have to keep it 5 years and wear it once per month to get that. Some things (like my $5 Goodwill denim jacket-turned-vest) is probably down to less than 25 cents per wear by now, so I don't feel the need to fret about each items cost per wear, but I can feel good about aiming for an average of knowing that I'm fully dressed for about $5 a day. That actually sounds like alot to me, but it's comparable to what I spend on food per person per day (I think...)

chewyspaghetti

Veteran

Is the 5-10% supposed to be for each member of the family, or the whole family? Anyone know?

Queen Mum

Veteran

Khris- I was wondering the same thing, but if it were per family member than 30-60% of our income would go to clothing. We wouldn't be eating! I have to guess that I need to share that percentage with my family members unfortunately ;-(

ironkurtin

Veteran

I love clothes and don't mind paying for them, so CPW kinda leaves me blank. I'm aiming for fewer but more perfect items and being less indulgent. Husband and I will sit down and figure out a budget for the household, and then for ourselves, and I plan to stick to that as best I can.

Isis

Veteran

Chewy---it's 3-10%. It's obviously highly variable, but I imagine it is total family income. Otherwise with a 6 person family you'd be spending up to 60% of income!

All these categories depend so much on other factors, like savings goals, whether clothing also would be "entertainment", etc......

Ana

(website)

Veteran

Each paycheck, I sit down and calculate how much our bills will be (it varies since the due dates on many of our bills shift around a little bit each month), then I set aside a fixed amount for groceries. Some months we have special costs, like getting the car fixed, so I set that aside. Then I figure out what is left over and put at least half of that into savings. Whatever is finally left is our fun money. We can spend it on clothes, or going out, or going on a trip or something. So some paychecks I have more money to spend on clothes than others. Some paychecks my husband gets all the clothes money because he needs some new jeans or something. Right now I'm saving up to go to a writer's conference in California in July, so that is cutting into my clothes shopping, too.

I have a master wishlist of items bookmarked on my computer, so when I get some money that I know I can spend on clothing I just look over my list and see what I want and what I can afford and then buy that.

Suz

(website)

Veteran

Such great ideas, and I am learning from this thread. Thank you for starting it, Nicole!

I am not very organized about my clothing budget. For the past fifteen years, I spent almost nothing (truly...maybe $100 to $200 a year, if that) but now that I'm rebuilding a wardrobe from scratch due to significant weight loss, I don't even want to know how much I have spent. Even with many thrifted, consignment, and sale purchases, a few incredibly thoughtful gifts, and what I think has been some smart shopping and strategizing, I know the amount I've spent would seem enormous if I allowed myself to add it all up! So for now, as long as we can pay our credit card bill every month, I am turning a blind eye to what else we CAN'T buy as a result of my recent clothing purchases. Fortunately, my husband understands and has encouraged me to restock my closet.

I don't think I can set a realistic budget for the future until I get certain basics into place. Once that is accomplished, I will look more carefully at overall ballpark figures and cost per wear. I am starting to get a pretty clear idea of which items I wear very regularly and which I tend to leave on the hanger. And I'm beginning to get a clearer sense of my wardrobe holes, as well.

I agree with Queen Mum, however, that it is AVERAGE cost per wear that matters. This is especially true for me given my lifestyle. I mostly work at home and need MOTG outfits. But as a writer I am also called upon to give readings, to chair panel discussions, and to attend the occasional gala party, and so I need clothes for special occasions and public appearances, as well.

Many items in my closet will be less than $1 per wear (in fact, one of my most worn articles of clothing was a gift from a friend who did not want it, so it costs nothing per wear!). But I do not resent the skirt that three years after purchase still has a CPW of over $30. I'll have that skirt for at least another three years. So in time, the CPW will whittle down, and in the meantime, it is insurance in case I am called upon at short notice to look "special."

MNsara

Veteran

Great question to pose, Nicole, and what fun to hear all the different takes on handling clothing purchases! I don't have the patience to figure CPW, but I know those nearly-orphans in my closet, and I'm fully aware of larger $$ items that aren't well utilized. . .

I'm right there with many of you and Lisa made me smile with her "This past year I had no set budget. But I tracked my spending every month. I was shocked. " I know if I did that I would be shocked too -- so I won't. . .but I do plan to cut back, way back, in 2012!

FWIW, I spent the first 25 years of marriage carefully managing our entire household finances and it worked well for us. Now I'm SO tired of doing that, and I'm becoming a little rebellious even with my own plans!

But in it's better days, our clothing budget was an amount we set based on the discretionary part of our $$ (after actual bills, escrowing qtrly/semi/annual bills, savings, etc.). It was not based on %, more on how much was left. It took care of all 5 of us.

I was always taking $$ out of some other category (usually the vague 'Miscellaneous' one) to cover extra purchases (need to work harder on passing up great deals!). Not perfect, but it did the job of keeping me aware of the running total, and somewhat keeping it in check.

Mo

(website)

Veteran

Totally agree that not everything in your closet could, or should, get to $1 CPW. I can't imagine a blush pink chiffon and satin dress being worn 100 times, right? That's why my first benchmark is the $20 mark. This, like budgets, will be different for different people.

Jonesy

Veteran

I don't budget, technically. But, I know roughly what can be accommodated each month, once we have paid for everything (including credit cards--we never carry a balance) and set aside a big chunk for savings. Certain times of the year like fall are big clothing purchasing times, since the kids need new jeans, possibly new winter coats and boots, etc. I also particularly love fall fashion. But between now and late spring (May-June where I live), when I will need to assess what the kids need for summer, it's pretty low-cost and I don't tend to buy very much at all. So, it really varies from season to season, and as long as we are saving each month and keeping everything on-track, I buy what I want within reason. I absolutely 100% appreciate being able to do this, since I grew up poor and struggled for decades to enough money to buy things for myself (not that you asked about this aspect, but I felt the need to add it so I don't appear to be gloating or blindly privileged about having discretionary income for clothes :).

lyn*

(website)

Veteran

All this budgeting has got me thinking.

If I stay single for the rest of my life, I can take his clothing 10% and spend it on myself.

I like this.

velvetychocolate

Veteran

Ha ha Lyn*

I don't have a set budget yet - but from reading this thread I've come to a good 'resolution' for this coming year. I'm going to go through my closet, edit out what doesn't work, then make a list of the things I truly need to fill out my wardrobe. At that point, I'll try and come up with what I think is a reasonable upper amount to spend on each individual item. I suppose I'll also have to consider a bit of 'fun money' so to speak, for those things that aren't on my list (eg. I see a really pretty scarf or something).

I'm kind of in the place where Suz was/is - there are so many wardrobe gaps/holes that it's not like I can set a certain amount per month or anything right now.

I'm not nearly at the point of considering "cost per wear", but this factor does help me when contemplating a more expensive item. A fabulous bag, or some really good shoes - it's fine to spend more, imo. Same thing with coats and jackets too I think. A trendy-ish top? Maybe not so much.

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