Income/Clothes Spend ratio?

Discussion in 'Classic Menswear' started by Britalian, Jul 2, 2006.

  1. Britalian

    Britalian Senior member

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    What percentage of your monthly salary do you spend on clothes, footwear, and accessories?

    Me first: 15-20%
     


  2. kitonbrioni

    kitonbrioni Senior member

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    No one else, including me, is going to touch this one.
     


  3. kali77

    kali77 Senior member

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    No one else, including me, is going to touch this one.

    Ditto. I don't even like to think about thinking about it[​IMG]
     


  4. Spencer Young

    Spencer Young Senior member

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    Don't they say housing should be around 30% of your monthly income? 20% seems a bit much, but if you can make ends meet, more power to you.

    I'd guess mine is something between 3-5%.
     


  5. Steve B.

    Steve B. Go Spurs Go

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    Last I saw (1999-2000) in some of the research I did for my book was 5.9% of gross for the national average...So 10% for people like us is entirely reasonable as long as you're paying your other bills and not running up CC debt.

    I'd say if you're living at home 15-20% would be OK.

    And you may choose to drive a shitty car or live in a smaller house to feed your habit. I'm pretty sure a few have done that here as well.

    I still think we should start our own 12 step group.
     


  6. pejsek

    pejsek Senior member

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    I try to keep it to walking aroiund money in my pocket. Of course, I'll pull out the debit card for some $15-$20 Lobbs or EGs or, say, a $17 Savile Row suit.
    I wouldn't enjoy clothes half as much as I do if it were costing me real money or cutting into my ability to put money to work. I absolutely hate being in debt or living on the edge. Just a personal thing, though.
    How do we account for time spent chasing bargains?
     


  7. JeffC

    JeffC Senior member

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    That was my question, pejsek. With all the goods you find, how much time per week do you spend hunting bargains at thrift stores?
     


  8. pejsek

    pejsek Senior member

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    JeffC, On average, I probably spend 5-6 hours per week thrifting--sometimes more, sometimes less. Not that I'm claiming it's a healthy and trivial pursuit, however, since it probably took me 10 years or so of more intensive thrifting to be as efficient as I am today. As with any true passion, I am totally in thrall to the process. I like to think of it as Urban Anthropology (though those closest to me may not agree with such a self-serving asessment). Still, I feel much better spending the time than the money. Time is amorphous (even considering ill-fated attempts to assign value to opportunity costs); money much less so.
     


  9. LabelKing

    LabelKing Senior member

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    Europeans apparently spend a higher percentage of their income on clothing.
     


  10. kolecho

    kolecho Senior member

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    I'd say that I have been spending quite a bit in the last 18 months rebuilding my wardrobe etc after discovering SF. Once the staples are in place, new suits, shoes, ties, shirts, trousers, jackets etc, expenses should stabilize, I hope [​IMG]
     


  11. stach

    stach Senior member

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    I'd say if you're living at home 15-20% would be OK.
    Yes, if you're living out of a shopping cart you might want to keep the excess baggage to a minimum! [​IMG]
     


  12. NewYorkBuck

    NewYorkBuck Senior member

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    Pre or post tax? Huge difference. I would estimate my pretax %age at about 5%.

    The convention for prime has been 28%. But the housing bubble has thrown these WAY WAY out of proportion.

    By far my two largest "expenses" are taxes and savings. Together they represent about 80% of my budget.
     


  13. Yudi

    Yudi Member

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    I'd say that I have been spending quite a bit in the last 18 months rebuilding my wardrobe etc after discovering SF. Once the staples are in place, new suits, shoes, ties, shirts, trousers, jackets etc, expenses should stabilize, I hope [​IMG]

    Yeah, this is pretty much true for me as well. I have a very sneaky feeling though that it won't work according to plan. As with all possessions, the more you have the more you want. I can't see it slowing down even after I have all the basics finally covered.
     


  14. Holdfast

    Holdfast Senior member

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    Some months more, some months less. Depends on how big the credit card bill is (it gets paid off in full automatically at the end of the month). I also have all my various savings plans taking money automatically out of my bank account. If I notice the total in the account falling significantly I cut back the next month. Otherwise I keep spending. [​IMG]

    I'm not telling you a percentage though! [​IMG]
     


  15. Sartorially Challenged

    Sartorially Challenged Senior member

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    Spoken (actually written) like a true addict.
     


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