Bj1111... that’s soooo funny..
I feel the same!

Bj1111 made me laugh too!!!!

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".

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.

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.

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.

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.