The Rules of Fashion Math
While math class may have seemed totally uninspiring in high school, it’s essential in this economic hard time that we learn some simple sums so as not to turn financial mourning into fashion mourning.
Rule #1: Divide the price of an item of clothing by your anticipated number of wears. The desired answer should be between ten and fifty dollars. For example, if your dream dress costs $400, you will need to wear it twenty times to achieve a $20 dollars per wear result.
The main concept here is to ask yourself: would you want to pay less than this if you were to hire the dress per wear?
Rule #2: Divide the price of a bottle of perfume by 365. (For a once a day spritz of your favourite scent) For example, if your new perfume costs $150 then that equates to 41 cents per spray. You must then decide if you should be paying less on perfume each day.
Rule #3: A ten-dollar bargain never worn is a loss of ten dollars.
Rule #4: On the spot trends have a best before date. Just like a carton of milk, the fringe bags will go off- and be thrown out. But if you just have to be seen with one this season, you must make the choice between the $4000 Prada or the $40 Sportsgirl. Let your credit card conscience decide.
Rule #5: There will always be exceptions. Some items such as a well fitting pair of jeans, a winter coat and a little black dress are fashion investments. So be sure that with items like these you spend a little more in order to get your due returns – and compliments.
Rule #6: In these hard times it is nice to have friends looking out for you, and Missy Confidential is number one. This amazing service notifies you of the fashion sales, designer bargains and guilt-free indulgences in your city each week. And it's absolutely free. If you love the idea of getting the Missy Confidential sale alert each week, then check out the website at www.missyconfidential.com.au.
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Budget tips
- Shop with grocery list of both current items and also items which you know you will need in the future - if they are on special and you can afford it, why not buy now and store away?
- Test no-name and store-branded items - many staples such as sugar and milk all come out of the same factory and are exactly the same except for the fancy label - just decant into a pretty container when you get home and you'll never know the difference
- Do a spreadsheet listing all known financial events such as birthdays, weddings, school fees, building maintenance, holidays, seasonal bills (eg. more heating in winter, cooling in summer), new or replacement furniture, car repairs and registration, and insurance payments
- Agree to never paying full price for anything again unless it is an emergency - there are few things that you don't know about so you should be able to do some research, planning and comparison shopping before making a final decision
- Plan meals in advance, consider some bulk cooking activities (invest in a separate freezer to accommodate this) such as soups and casseroles which can be frozen and jams, chutneys and relishes which can be bottled
- Pack carefully when going on a trip to avoid spending extra on forgotten items, particularly in a foreign location where you are less likely to know if you are getting ripped off.
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