If there’s one thing we have a weakness for, it’s shopping.
There’s nothing better than treating yourself to a great new dress or a pair of killer heels now and again, but for many of us (consider the YOU mag office guilty), ‘now and again’ is often code for all the time – and it isn’t healthy for our bank accounts.
But what if we were able to reach the perfect balance between keeping our wallets heavy and our wardrobes on trend? You’re probably thinking it sound too good to be true, but it isn’t…
According to financial expert, Peter Dunn, that perfect equilibrium does exist. The key, as suggested by him and many other financial advisers, is to stick to only spending 5% of your take home salary per month.
While that doesn’t sound like a lot, it isn’t all that bad when you do the maths, although it does depend on your salary. For example, if you earn £25k a year, you can spend £1250 annually on clothes. Or, if you take home a monthly salary of £1,600, that’s £80 you can use to treat yourself and feed your fashion habits each payday. Plus, with frequent retail sale seasons throughout the year, your monthly buys will soon add up – you may even end up giving Carrie Bradshaw a run for her money.
The sum is, of course, just a suggestion; you can spend as much or as less of your own hard-earned cash on clothes as you want, and you may prefer to save for an investment piece rather than make smaller, regular purchases.
However, it does provide us with an idea of how much we can roughly afford to splash out on the ‘new ins’ at Marks and Spencer and Zara without being completely skint at the end of the month – and frankly, for us, that’s extremely valuable.