The Fashion Budget
As we step into 2020, we all begin to question what goals we want to accomplish for the next year. I do feel that I have come a long way with defining my signature style and being more selective than shopping in 2019. However, I have big things that I want to save for in the coming year and I think planning ahead is key.
Shopping Tip: Plan ahead for big shopping purchases
It’s key because we all have get those moments of weakness…and emails from our favorite retailers announcing a big sale…that can quickly turn of month of saving into a month of splurging.
I am realizing that it doesn’t work well for me when I show too much restraint. For instance, if I tell myself, I can’t buy anything…I literally want to buy everything on my wishlist. I think a better mentality is to know your budget for the month…and the year…and plan for your big purchases.
Shopping Tip: Save for the Real Deal
By taking your time and saving for specific items that easily incorporate into your closet, you are less likely to make reset purchases and waste your hard-earned money.
A great example of this is my list for a fabulous Fendi bag. It wasn’t in my budget at the time, so instead I bought a Fendi bag strap. A great concept, all in all, right? I can put the strap on any bag and give it that “Fendi vibe.”
But if I’m honest with myself, I know that a Fendi strap doesn’t transform my outfit OR fulfill my desire for the Fendi bag. It’s best to save for a few major investment items than buying several other things to compensate for the real deal. Do I still want the Fendi bag after buying the Fendi strap….do I really need to answer that?
Shopping Tip: Evaluate if items on your wishlist items fit well with your signature style
And of course, we have different taste and styles, so what I consider classic and an investment may be very different than what you do.
Most girls dream of a Chanel bag, and while they’re gorgeous, I feel that a brand like Fendi goes better with the quirkiness of my style. So be true to your style (especially when splurging), and save for the good stuff.
Shopping Tip: Refine your (shopping) wishlist on a regular basis
This one’s my favorite tip! it’s so fun to brainstorm what you will buy next year, but this is also very savvy. It saves you mega money, because sometimes purchases that seem like a good idea are a really terrible buy.
By thinking about where you will wear that new dress, or what you will wear with it, really brings into questions if it fits well with your wardrobe.
A great perk of creating a wishlist and planning your shopping, is that your closet really comes together. By buying a dress, belt, and jacket that are in your preferred color palette and that mix and match together, it’s so much easier to get ready.
These are my Back Friday & Boxing Day purchases. I was very selective, but you can see how they all mix & match together. Ideally, your 2020 fashion investments will create a capsule wardrobe , which triples the price per wear you will get out of them. I have since returned the printed Red Valentino dress, because the fit wasn’t quite right.
When I think of the most versatile items in my entire 2020 Fashion Wishlist, I think of this fashion board. Both the apparel and the bags offer endless styling options. The Zimmerman playsuit can even transition from summer to winter, so it’s a piece you can wear all year long.
With this fashion board, I purchased the most affordable item (the playsuit) which will serve as a base for many styling options. Then, I can save up for the blazer or biker jacket and 1 of the 2 handbags.
Because you can re-wear jackets and handbags with all your outfits, they may be worth a high price-point for the quality and style.
These are jackets currently in my wardrobe that I use to style and re-style items like the solid black Zimmerman playsuit. Such a different look when styled with the black blazer compared to the YSL denim jacket. I purchases this Balmain leather jacket on The Outnet. I couldn’t find any similar options currently in stock.
Shopping Tip: Compare items on your shopping wishlist to items you already own
I do believe that the more strict your budget is, the more selective you need to be when shopping.
With that said, some items on your wishlist may be similar to some pieces you already own in your closet. Let’s evaluate a few items on my own 2020 Wishlist…
I already own the two jackets at the top of this photo. The Balmain jacket at the bottom is one of the more luxe items on my 2020 wishlist. But do I really need it, as I already have more than a few biker jackets in my closet? And one that is Balmain with a very similar vibe. The Balmain one I own is very versatile because I prefer silver hardware and it has a more minimal look, which makes it more wearable. When investing in a leather jacket, take your time finding your perfect one. I absolutely love the one I have, so probably don’t need another Balmain leather jacket…though it is gorgeous.
Top Left: Balmain Denim Jacket Top Right: Off White Distressed Jacket
Both of these two killer denim jackets made my 2020 wishlist. However, I already own the bottom two jackets shown.
Bottom Left: T.A.G.G. Embellished Denim Jacket Bottom Right: Saint Laurent Logo Denim Jacket (though mine doesn’t have the shearling collar)
While the T.A.G.G. and Saint Laurent denim jackets are a darker wash, it definitely makes me question if I need another denim jacket.
The Off White jacket is totally shredded in the back, and is a look I might outgrow.
The Balmain denim jacket one would be my preference, and I would pick that over the Balmain leather biker jacket.
It would be smart shopping, as I own a handful of leather jackets and a denim jacket is more day-to-night appropriate. In this way, I just decreased 3 jackets on my wishlist down to 1.
As you can see, several of the items I added to my fashion wishlist, I’ve already decided against. And what money we don’t spend shopping, we can save and put towards other financial goals, or another wishlist item.
So, if I pass on the Off White denim jacket and the Balmain jacket, that money can go towards a handbag or other accessory.
The price-per-wear for the Chloe skirt vs the Gucci belt is drastic. While I love the Chloe skirt and actually considered getting it, I could only style it with white blouses. Also, the side pleating in this velvet and cotton fabric mix, makes it a more structured and tailored look than I like. I think the vibe is a bit too preppy for my style. The Gucci belt you wear with any jeans, dress, or even over a jacket to cinch in the waist. If you own a lot of black like me, it will work with anything in my closet. I can see this being a future purchase.
Creating fashion boards and collages really help me pull an outfit together and visually see how I would style that item. This also tells me how wearable and versatile it is.
Shopping Tip: Consider your purchases for the entire year, instead of just planning what you will buy next month
So we should crunch some numbers as we browse fashion retailers, and prioritize which items land in our top 10..or 20..depending on your budget.
It’s an entirely different approach to just going into a store and buying whatever we see that’s pretty. Online shopping makes comparison shopping much simpler.
When we take the time to create a budget and wishlist for the entire year, we compare items to each other and can see which pieces are worth the money.
Also, buy considering your budget for the entire year before purchasing an item, you force yourself to only pick the best of the best. Which mens you only introduce items in your closet that you intent on keeping for years and years.
We should be not just shopping, but scrutinizing, our wishlist items.