Fashion Investing 101: How To Get A 10x Return On Your Wardrobe

Fashion Investing 101: How To Get A 10x Return On Your Wardrobe
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Clothes, shoes and accessories are often seen as ‘frivolous,’ but everybody has to get dressed every day whether they’re a bonafide fashionista or not. Even if you could care less about what you put on as long as its clean and appropriate, it’s still a wardrobe — and that means it’s still an investment of your time, resources and money.

Yet, a lot of people shop on autopilot — including those who love fashion and style. Grabbing whatever stands out, without giving it a lot of thought. Our society champions the adage ‘shop until you drop.’ But, a great, stylish wardrobe doesn’t have to be large, or full of designer brands. It just needs to be precise to your lifestyle, your individual taste, your wardrobe needs, and ultimately what you like and feel comfortable wearing.

Avoid Haphazard Spending

When it comes to making purchases, you should always have a solid sense of what you need or want before you step a foot out the door or into a store. Doing so can ensure that you’re not purchasing something you already own, or something that you don’t have the right items to make work. For example, if you spot a great jacket but don’t have anything to wear with it, it’s a waste of your money.

With a plan and idea of what you need before you shop, you’ll save on these types of mishaps and mistakes. It doesn’t mean you can’t buy the jacket — just be prepared to buy whatever else you might need to ensure you can put it to use.

Be Cautious About Quality

A second common wardrobe shopping mistake is investing in poor quality. It doesn’t matter if you’re spending $20 or $2,500. It’s all an expense that chews up money you can be using for other things. Never assume that a designer brand automatically means outstanding quality, construction, or fit. In fact, many designer items are simply too delicate for everyday wear. Or, they’re not made very well to maintain better business profit margins and cut back on costs. Just the same, spending on items that are inexpensive or overpriced for the quality, construction and fit is also a mistake. Get to know quality while you shop, read online reviews, and make all of your fashion buys very wisely.

Know When To Splurge And When To Save

Some items are ideal for your higher ticket fashion investments — and some simply don’t require a great deal of money to do the job. A good coat, a well-made shoe that fits your needs, and a few other key items like handbags and high-quality knits, are where you should invest more. You will likely wear these items more often, they’re wardrobe classics, and they’ll last longer if you raise the level of quality. Simple basics, like t-shirts, denim, pajamas, and certain dresses and knits, can be attained at lower prices without compromising fit, construction and wear.

Get to know what your go-to items are and make these your focus for where you spend the most. That can also mean those few items you work when you’ve got a special occasion — weddings, important work events, etc. Then save money on things where you can, like good basics and jeans. This varies for everybody, and in every closet. But knowing where you benefit from spending more — and where you will not — will give you the most for your money.

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