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Today’s guest post is by Charisse Conanan of Smarteys.com.
I know — “money-saving tips” and “looking F-A-B-U-L-O-U-S” are terms that might appear to be at odds with each other. But, keep reading and you’ll realize that these terms go hand-in-hand, especially for those looking to impress their colleagues.
I am usually on a high for a few weeks just at the prospect of buying new clothes to make me feel good when I step into the office. I love the warm and fuzzy feeling I get when someone at work gives me a compliment – “You look really nice today.”
And then a few minutes later, I come down from my high. My low-point really comes when I think about paying all of my other bills. With a smirk, I then map out how I can get my hands on some more money to buy my new outfits. Sound familiar?
Well, here are a few money-saving strategies that have worked for me. These money tips can get you on the right path toward getting the clothes that make you feel like you are a CEO.
How To Save Money and Look Fashionable at the Same Time
1. Know Your Spending Number. Before I do any shopping, I must know how much money I intend on spending. Similar to asking myself the question of how much rent can I afford when I transitioned from college to the real world, I also asked myself how much money can I spend on new clothes? Everyone has a different number. Whether you have $50 or $500 to spend, you might have to cut something else out of your budget in order to buy your new clothes. When I do not have a set budget in mind before I go to the store, I tend to spend way more than I can afford and regret my purchases the minute I get home. You don’t want to feel this way, so know your spending number.
2. Thrift Shop. I have some thrift shop treasures. I personally hate the process of going through the racks of clothing at the thrift shop, but love the deals that are there. Luckily, I have a best friend who loves shopping in thrift shops. If you are like me and cannot stand looking through so many aisles of clothes, then just bring your friend along. If she’s a true friend, she will do the heavy lifting for you. I have several designer jackets, dresses, and shirts from thrift shops from around the country. The hidden gems are found at the Goodwills and Salvation Armies way out in the suburbs. After seeing Macklemore and Ryan Lewis get rich from their hit song Thrift Shop, there must be something good about shopping at the thrift shop.
3. Make Investments in Quality. I choose to adopt an attitude of frugal living when it comes to spending on parties and food, but not for clothing, I want to invest in quality. One of the best lessons that I have learned is that I can save a lot of money by making purchases in quality clothing. In the short-term, I will spend a fair amount of money in order to get a dress or suit that fits well. I save in the long-run, however, because I am not replacing these outfits every three to six months, which I always do when I buy something cheap. I suggest saving up for one or two quality pieces rather than buying a five or six sub-quality articles of clothing on a splurge. You can save even more when you buy these quality clothes as stores change out their seasonal inventory. Next time you’re in your favorite store, just ask the salesperson when the new season’s items will hit the racks
Even if you follow just one of these money saving strategies, I am confident that you will be on your way to looking F-A-B-U-L-O-U-S at work.
At the very least, will you share any other money saving tips that have worked for you?
Charisse Conanan, CFA (chartered financial analyst), is an entrepreneur and a Millennial wealth expert. She created www.smarteys.com, which offers an easy online budget template, which helps Millennials have the life they want. Prior to building Smarteys, Charisse was an equity research analyst at JPMorgan Asset Management. She loves building relationships, traveling, sports, and exploring international food through cuisine. She is a graduate of Yale University and Chicago Booth. You can find out more about her at www.charisseamanda.com or follow her on Twitter @charisseamanda.