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Do you have an annual budget on clothing spending?

post #1 of 32
Thread Starter 
Do you set an annual budget for your clothing spending, in monetary terms and/or in terms of number of articles in each category? I don't have budget per se. I split my paycheck direct deposits into 2 parts, one goes to my investment brokerage account and one goes to my checking. There's a self-imposed restriction not to touch the brokerage a/c, so whatever left over in the checking after paying all the bills, I am free to spend. After reviewing my credit cards annual summary, I should have cut back a little. Even if I have a budget, I don't know how good were I to stick to it. Sometimes the temptation is just too big to overcome when you walk in BG, Saks or Barneys big sales or see something on eBay. I guess when you have a solid base, you just need to buy certain number of articles a year, may be 2-3 suits, 10 shirts, 3 pairs of shoes, 10 ties...
post #2 of 32
Yes. When the money is gone or when my wife blocks access to my accounts, I stop.
post #3 of 32
I don't have a budget, but I don't think spend much -- though since this forum and a few ideas gleaned herein, I've spent more than I would have in the past. I tend to buy few things -- but usually things that I think are quality, enduring, lasting, conservative. I'd say that unless I am buying a suit or a pair of shoes, I probably don't spend more than US$1000 per year. Maybe far less some years. I don't buy many suits because there are few shops that I will patronize, few tailors that I trust, and I have enough suits I think. Shoes, on the other hand, are something that I am now wanting more of. Like some of the Trickers or Alden fan shoes. But I still ask myself how much can someone reasonably have, and my decisioins are dictated by that (thankfully). I also buy almost no ties ever. I have the basics and don't go for anything else. I suppose I could get really crazy and get a new dinner jacket but the one from Brooks I have suffices. Dirty Secret: for some crazy reason, I tend to buy something, even formal (save black-tie) and ask myself -- will this look good with levis? This is a disasterous inclination because to my mind everything looks good with levis. Or at least passably okay.
post #4 of 32
I usually have a minimal mental list at the beginning of the year, usually more of what I already have or to replace a worn-out item. The list is ignored if I see a deal on an item that often is a duplicate of an item I use and already own (e.g. another pair of Oxxford gray flannels or Alden loafers). My wife and I don't spend much, except on my daughter's school, and we don't put together a budget. We already own a house with a small mortgage balance in proportion to the value and bought furniture years ago. I really don't keep track of dollar amounts on clothes or other living expenses but I consider that we're doing well when I have a comfortable amount to invest.
post #5 of 32
I have a clothing budget, in addition to everything else I spend. I make my budget at the beginning of the year and never sway from it. This allows me to save the majority of my take home. The earnings from this savings allows me to consume more the next year while still maintaining the same savings rate. A short term decrease in consumption allows for much greater consumption later. A beautiful thing.
post #6 of 32
I converted one full size bedroom into my closet and dressing area. Our house is a former B&B. We have lots of extra rooms. And it is my intention to fill them all up. My budget is based on available square feet. Now, back to buying for me.......................................
post #7 of 32
It's a simple budget. Spend discretionary income on clothes.
post #8 of 32
No budget, but I probably should make one. A couple years ago, I imposed on myself a budget for wine buying, and I have been able to stick to it. I'm contemplating doing the same -- perhaps it's time I did the same for clothes and shoes. The key to setting a budget, of course, is to make sure it's high enough to allow a decent level of continued buying.
post #9 of 32
I don't have a budget right now, but I need to impose one.
post #10 of 32
Quote:
I converted one full size bedroom into my closet and dressing area. Our house is a former B&B. We have lots of extra rooms. And it is my intention to fill them all up. My budget is based on available square feet. Now, back to buying for me.......................................
My GF tries embarrasing me by taking guests into my walk-in closet. ( Imagine if I had a whole room.... )
post #11 of 32
Quote:
Do you set an annual budget for your clothing spending, in monetary terms and/or in terms of number of articles in each category?
no
post #12 of 32
I have no hard number. After I pay my bills and save some, what's left goes to alcohol and clothing. Ah, the joys of being single.
post #13 of 32
Where gordgekko and I agree. Picture the Dook and Rick James shaking hands.
post #14 of 32
no budget. usually i will make a big purchase everytime i sell one of my properties, which is usually every month or two. instead of spending money on wine, i now grow and make my own. more money for clothes.
post #15 of 32
no
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