I’m not one to really keep up with general New Year’s resolutions, but I do like to establish a few goals when it comes to style. Last year, I set five style resolutions: experiment, edit, create, sparkle and inspire. This year, I’m setting only one: budget.
I could say that I’m going to spend less or that I’m going to reimagine my wardrobe in new ways. Those are great goals to have, but they’re a little too broad to track. I’ve tried month long spending freezes, only to crack at the first sign of a sale or a limited edition designer collab. So when I read about how Jess of Here and Now set a monthly shopping budget for herself and stuck to it all year long, I knew this was something I had to try.
First things first: setting the monthly budget. This will vary depending, of course, on your income, your fixed expenses (look at how grown up I sound!), etc. Be realistic with your budget and find a number that will give you a bit of spending freedom, but also cover your bills while leave room for saving.
For me, that means budgeting $350 per month for clothes, which equates to an annual budget of $4,200. At the end of each month, I will be recapping my purchases and reviewing my budget with you. I hope that by evaluating my spending habits, that I will reduce the amount I spend on clothes and focus on more important goals, like decorating the apartment, experiencing more of NYC, and saving up for a few adventures during the year.
So here we go, 2014. Let’s do this!
This is such a great post and good luck with your goal! it’s a great one. I’ve done this and it really helps also you don’t feel guilty every time you buy something 🙂
xo
http://thefashionistabubble.blogspot.ca/
This is such a great plan! I too have been looking to start budgeting my clothes spending so I may be joining you in this endeavor. It’ll be a great feeling to say at the end of the year I stuck to it! Good luck!
xx
Ashlei
Kinks are the new Pink
I need to start a monthly budget. Some months I do super great due to stress of college and not being able to shop. The issue is that some OTHER months the stress of school makes me want to shop. This probably doesn’t make any sense out loud but in my head it does.
I started a shopping budget last year, but I decided recently I’m going to join the “budgeting bloggers” and share my successes (or failures probably) on my blog…I think that will help me stick to the plan because I’ll have to be accountable to the internet 🙂 Good luck to you!
~Sarah of Sarah’s Real Life
I do the budget thing too, I started in September and plan on continuing through the foreseeable future. I agree with Sarah, joining budgeting bloggers definitely hold you accountable! Plus it’s fun to see what other bloggers found each month. xo
I need to do this, too! I have gotten worse and worse about overspending (and not paying attention to how much I’ve spent on clothes), and I think having a set amount per month would really help — even if I go over, at least I’ll know I need to take it easy the next month!
Good luck! This seems like a great resolution, and I wish you the best!
I’m excited to see how you tackle your resolution! It’s such a good idea, I might actually think of doing it myself! Good luck! Can’t wait to see your first monthly recap!
Bold Subtlety
Good luck sticking to your budget! Can’t wait to see what you purchase each month!
http://kacieskloset.blogspot.com/
I love this! I’ve really been thinking about doing the same but it’s so scarrryyy!! haha! 😉 Good luck lady! I can’t wait to follow along!
Budgeting is also my new year’s resolution. I started it last year and it’s been great. When I first started at my “big girl” job almost two years ago, I didn’t want to get used to having that extra cash. Instead, I started putting it towards paying off debt with a little extra for clothes. I can’t wait to see what you buy. 🙂