Stylin' on a Budget

Disclaimer: This post has a lot of words. But keep calm...and read on. ;)

A few days ago, I shared my 2013 goals with you.

If you recall, one of my goals is to set and stick to a monthly clothing budget. Technically, I've had a clothing "budget" for the past 2 years or so, but haven't done the best job sticking to it. Hubby and I sat down with a budget adviser back in 2010 to create a family budget & debt plan. Since then, our family financial motto has been GIVE/TITHE (10%), SAVE (20%), SPEND (70%). We've stuck to this motto by faithfully using the envelope system. And through the discipline of the envelope system, we have paid off FOUR DEBTS! Holllllleeeeeeeeerrr. 

Initially my clothing budget was $100/month. But sometime last year, I bumped it down to $50/month to free up more money for our remaining debts. I've realized over time that $50 is NOT realistic for me because I, without fail, go over EVERY. SINGLE. TIME.  Sometimes by just $20...sometimes more. Our budget adviser's final words to us: a budget MUST be realistic; otherwise, it won't work. And clearly $50/month is not working for me.

via

According to J of J's Everyday Fashion, your clothing budget should be about 2-8% of your monthly income. Applying this rule of thumb would start my budget at around $140/month. Unfortunately, that's not going to work for me either. Hubby and I will finish CARES in August/September of this year and we hope to transition into our first home at that time. The priority for 2013 is about aggressively paying off some more debt and saving, saving, saving.

So I settled on a $75/month clothing budget = $900 for the year.

I've decided to place myself on a shopping ban for the next 2 months. You may be asking yourself why I would choose to torture myself like that, right? 

I have been a shopping FOOL the past few months! I've conquered quite a few sales and even tried my hand at thrifting and consignment shopping. As I was cleaning my closet out the other night, I decided to remix a few pieces I bought recently but haven't worn. And I came up with FIFTEEN different outfits! How insane is that? I really need to get it together.

So until I wear every single new item I've purchased lately, I will not buy anything else. Instead I will use some of my January budget to buy fun gifts & gift cards for some of the sponsor giveaways I'm planning to participate in this month.

There are a few other things I'm doing this year to help me stick to my budget:

{1} More closet remixing. Pretty sure I have enough "staple" pieces in my closet to mix and match outfits until at least April.

{2} More thrift & consignment  purchases. I bought 2 J.Crew tops at The Clothes Mentor last week for $20 (Never worn. With tags. Score.) The retail price of these tops totaled over $100. There was a point in time when I didn't think I'd ever own anything from J.Crew. Frankly, I think the stuff in there is totally overpriced. Even the factory store stuff. But I can work with $10 for a brand new top. Even if it is from last season!

{3} Have a plan & make every purchase count. One of my new fave bloggers, Franziska of Franish, came up with the genius idea of making a list of holes in your closet. Basically, rather than just buying any and everything on sale, you should keep a running list of missing pieces you want to complete an outfit(s)...a "wish list" of sorts.

Here's my list so far:

Up Top
> mint or emerald green blazer

> mustard sweater
> animal graphic sweater

> black floral long sleeved sheer top 

> blue & white gingham button-down
Down Below

> mint jeans

Footwork

> nude heels
Finishing Touches
> black statement necklace
> boot socks

{4} Sell some of my old clothes. I opened an online shop the other night called Angela's Closet Crush. Check it out!

{5} Share my monthly purchases on my blog. Can we say accountability? I will be linking up with Budgeting Bloggers each month for a budget recap. And giving you permission to call me out if I start to stray. Hopefully that won't be a problem. ;)

My budget AND my husband will surely love me for being more disciplined in this area. And hopefully the Lord will be pleased, too. ;)

Moreover, it is required of stewards that they be found trustworthy. - 1 Corinthians 4:2  

Wish me luck!