how to invest in your closet
I love a shopping day out (or a shopping day in if you prefer online), however I have taken a little shopping break in February to save more and take a step back from the online purchases. Jump to the end of the blog post for a step-by-step guide of shopping with purpose:)
As someone who is obsessed with fashion and investment pieces, I get tempted by new season items that turn my head….however, now I am more interested in investing in less, but better items. I call this shopping intentionally. There is a big difference between going on a shopping spree and investing in your closet.
Instead of shopping at local boutiques and making an online purchase with every paycheck, I am conscious what I spend my money on. And when you save for 1 month (or 2 or 3), you have more money to play with.
So, let’s say you don’t make small purchases for 2 months. In that time, you may be able to set aside enough funds to get that designer bag that you’ve been dreaming of. And when we do make a big purchase like that, because we have carefully saved, we shouldn’t bash ourselves.
I limited expenses in February so that I can get something special for my birthday in March. I believe, it is all about balance. And if I do splash out on let’s say a designer bag….I will limit my shopping for the next few months.
I always recommend saving for the one item you truly love, instead of a handful of items that you sort-of like. At the end of the day, we still want that big-ticket item. Of course, I would only recommend on splashing out on a big-ticket item if it fits with your style and is practical and versatile. By being patient with ourselves and shopping mindfully, we can shop less frequently but slowly acquire our dream closets.
Now a few step-by-step recommendations before you make long-term fashion investments.
Define Your Signature Style!
This determines everything…what you declutter in your closet, the repeat purchases, the gaps any your closet (and what your lifestyle requires), as well as the new investments you will introduce into your closet. This is an entirely different blog post, but as a starting point, consider your fashion role models. Whose style do you admire and why? What is it about their style that is so captivating? Refer to Pinterest and Instagram and create an account with photos that inspire you. The common element in these photos you saved are a greeting starting point to discover your signature style. For me, I have this obsession with leather jackets. I also adore girly floral dresses and silhouettes. The mix of these two…feminine and edgy, is my signature.
Declutter/Cleanse Your Closet
The point of this is to realize how much you already own. A closet declutter/cleanse may be in order if your closet is stuffed to the max and you don’t see how you could fit much more into your closet. Another sign that you need a deep declutter is when all hanging space is covered with hangers, and you cannot easily distinguish individual items from one another.
Evaluate your repeat purchases
2. I’ll share examples from my own closet…I have great blouses in my closet but lacked basic tees and v-necks that I could wear under a leather jacket and layer. I also own dozens of leather jackets (it’s kinda my thing), but I didn’t own a single trench. Realizing what items are your shopping go-tos, because they resonate with your style and you have fun purchasing them is important. It makes you recognize your shopping habits and makes you think twice the next time you feel like splurging on an item you buy on the regular, I would suggest making a list of your most re-purchased items- even add how many you own of that item. It’s a serious reality check.
Take Inventory of the Gaps
3. Make a list of the holes in your closet. Take this with a grain of salt, as you contrast your over-purchases items to those that you never purchase. Maybe you have 50 party dresses but not an interview-appropriate one. Or maybe you have 80 pairs of jeans but only a few dressy blouses. The cleanse will indicate the holes, or areas that you are missing in your current closet. Filling these gaps should be your focus next time you do shop, instead of re-buying your 15th pair of aviator sunglasses. When we do fill these gaps, getting dressed becomes easier.
Consider Your Financial Goals
4. Is this the year that you want to put a down payment on a house or upgrade your ride? Think of all the big, amazing things that you could bring into your life if you eliminated shopping for a short period of time. Every thing we purchase adds up and we usually don’t realize how much we spend in the course of a year, when we buy that dress this month and buy a handful of items a few months later. Not to say that you can’t shop- but be mindful. Would you rather buy a few clothing items that you might like within a few years time, or invest in a practical item that will enhance your quality of life and re-sell down the road? If you do have big goals for 2020, I suggest taking it a step further and creating a vision board reflective of your goals with aesthetic imagery that leaves stars in your eyes. You need that visual motivation they next time you feel the impulse to shop.
Create a Fashion Vision Board
4. Maybe you have smaller or shorter-term goals for 2020. This is is personally the most fun for me:) Dreaming of a Chanel bag or those perfect pair of Louboutin heels that go with every outfit? If you review your purchases over the past year they may actually exceed that 1 amazing item that would dd value to your closet and style. I create a fashion vision board, taking photos from magazines and my favorite online shops to inspire me to save for the right pieces. Every time I think how fun it would be to go shopping at my local mall, I refer to my vision board and stay strong. One or two items that you will love for the next 5 years is SO much better than buying a handful of clothes you’ll be tired of in a few months time. The fashion vision board is also useful if you are unsure about investing in a specific item. After looking at it every day on your board for a month or two, do you still love it? Or are you bored and see some flaws in the silhouette or style? When you do step back from shopping (at least 1 month) you can save and invest in your closet and specific pieces that you will value long-term.