How To Save For Expensive Clothes #ShopSlowly 2017
intentionally budgeting tips for high-end items on your conscious wishlist
The Day Heel
When I decided to become a minimalist, I knew my shopping habits would have to change. I knew I could no longer bus to the shops downtown 3 times a week. OK, that was freshman year of college but you get the point. I had poor shopping habits that led me to the doors of Forever21 and H&M multiple times a week. I may or may not have blew my entire savings.
Clearly, I want you to learn from my terrible financial and shopping habits to become a conscious consumer. When you #ShopSlowly, you question your true intention for "needing" that $550 Gucci T-Shirt or in my case the $145 Everlane Day Heel. If you're a real shopping addict, like I was, then you're probably skeptical of this form of "budgeting." Well, I guarantee it will work because instead you'll end up spending the money on a brunch date or a bill you almost forgot about.
OK, Deb! We get it. Now, how exactly do we "budget" to save for expensive clothes, shoes, or accessories?
Step 1: ANALYZE YOUR HOUSEHOLD BUDGET
Calculate your fixed bills, the bills that remain consistent each month (such as your rent, utilities, groceries, phone bill, student loans, car insurance, etc.) + your lifestyle budget (such as toiletries, household items, subscription websites, credit card debt, etc) . After obtaining the total, subtract that amount from your monthly or weekly income. You need this to see where you can start saving for the $145 Everlane Day heels.
(EXAMPLE: Let's say your income is $2,200/month (after taxes) and the total of your monthly fixed bills are $1,500. You need to be saving some of your money for emergencies...let's say $200, which leaves you with $500 of wiggle room. Then subtract from your lifestyle category $250. Finally, you actually have $250 left...kinda. DO NOT BUY THE SHOES YET!)
Step 2: CUSHION YOUR CHECKING ACCOUNT
Stash some "untouchable" money in your checking always try to have $200 that I don't touch in my checking account just for emergencies. Don't deplete your account by leaving the balance at $10.00. You never know if your tire blows out, you need more school supplies, you forget a birthday, etc.. I promise you that you'll wish you had some easily accessible money stowed away.
(EXAMPLE: I highly recommend having at least $150 untouched in your checking account at all times. So, my friend, you technically have $50 bucks.)
step 3: SAVE. SAVE. SAVE AND THEN SPEND
If you save $50~ for three months then you will be able to get the shoes. Patience, girl! The shoes will still be there. To be honest, if you can't wait three months for shoes and your closet is filled up then you need to re-evaluate why you want them. Intentionally, look at your wardrobe and see what pieces add value to your life and what is leaving you bankrupt.