You just got your mid-year bonus and you’re wondering where you should spend it. And you think; shop. for. new. clothes. You think you need a new wardrobe.
Well, hold your horses. Do you really need new clothes to add to your already full wardrobe? Should you blow up all your extra money on clothes rather than saving it up for future spend?
These are things you should consider before deciding on spending your extra cash on updating your wardrobe. You can always buy clothes, but we can show you ways on how to save hundreds on shopping for your new wardrobe.
Time your purchases. Wait for season-sale enders. But, did you know that there are also certain months where a variety of items are on super low sale? Take running shoes for example. They are best bought during March along with sports apparel. While, October is the month to buy anything denim.
- Follow the cost-per-wear rule. You have to figure out if that shopping splurge is totally worth it. One strategy is to divide the tag price by the number of times you’re likely to wear the item. The more times you’re gonna wear it, the better the return on your investment. That is why it is better to spend more on quality basics like tank tops and jeans. Then, go easy on buying trend pieces or one-time occasion outfits.
- Count to three before buying anything. This will prevent you from buying unnecessary or impulse-driven purchases. By challenging yourself to list down three reasons why you need to buy it, you save your self from regretful impulse buying. You can also think of three other items in your wardrobe that you can easily pair it with or think of three occasions where you can wear it. If you can’t come up with any of these three, you probably don’t need that dress.
Use coupons. You don’t have to be an expert in couponing. All you need to do is to sign up for those retailer emails. They usually send sale coupons when you subscribe to their newsletters. Also, you can use sites like RetailMeNot.com and CouponCabin.com to search for coupon codes before making any online purchase. There’s also an app you can try called Honey, where it tracks coupon codes from hundreds of retailers and applies the highest value one to your cart at checkout.
- Only use cash. You know it is tempting to just swipe away that purchase because you know you can pay them with you extra cash next month. But, research shows that that people were willing to pay nearly 65% more for a basketball ticket when using a credit card rather than cash. This may be a different scenario but we can apply the same logic with you buying that cute dress. So, stick to paper money.
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