My wardrobe was dismal, so I probably spent 15% of my after-tax income on clothing last year. Two navy suits (one MTM Oxxford and one Chan), one odd jacket (MTM Samuelsohn) and shoes accounted for the bulk of my spending. This year, the focus will be odd jackets and shirts. I can find OTR trousers and shoes that fit, so I buy them (and ties) on sale, ebay, or at outlet stores. Unfortunately, my chest-to-arm length ratio means that suits, odd jackets, and shirts need to be MTM in order to fit, so they get expensive.
To finance my "hobby", I've stopped eating out, my vacations are tied to professional conferences, and I've begun flipping a few items on ebay. I never carry credit card debt, so I don't have interest payments. I'm focused on buying classics right now, so my next purchases will be a navy blazer, a charcoal suit, another odd jacket, and lots of shirts. My only regrets are a sale suit I picked up this year that doesn't fit quite right (trousers are really too short, with a minimal cuff). My weakness (addiction?) is ties. I rarely wear ties, but when I see one that I like it's either a classic that everyone should own or I tell myself it's unique and I need to own it.
How's that for rationalizing? I find that the smaller purchases really add up after a while, so I need to apply my "one-week rule" more rigorously.