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!