Splurging on Clothes Is the Best Move for Your Wardrobe & Wallet

woman with sticker shockThe other day, I took my son to the store to replace his tennis shoes. Within moments of our arrival, my eye caught site of a clearance rack bearing a sign that said 70 percent off. Did I need anything? No. Did I leave with three new tank tops? Yes. I have an impulse control problem when it comes to cheap clothes, which is why I was totally intrigued by the idea that spending more on clothing might be the best way to curb my financial habit.

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According to Quartz's fashion reporter Marc Bain in a recent article entitled "Your Next Item of Clothing Should Be So Expensive It Hurts," many people find themselves buying lots of clothes that are cheap but not especially well made. Not only does this lead to clogged closets, but it is also potentially needlessly expensive in the long run.

I, for example, recently counted that I have 27 solid-colored tank tops. I usually only spend between $5 to $10 for a tank, so that means I've shelled out somewhere between $135 and $270 for tanks alone in the last few years.

That is a lot of money on sleeveless shirts for someone who lives in Minnesota. No wonder my dresser drawers won't close!

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Bain suggests that the solution to this is to make a vow to spend more on clothing -- a LOT more. He decided that he wouldn't spend less than $150 on any garment, a number that was high enough to be a little financially painful for him.

The idea being that if the price tag on your next purchase makes you catch your breath a little bit, you'll be less inclined to impulse shop or to buy items that you don't really love. In turn, you'll purchase less -- and enjoy what you do pull the trigger on even more.

If you are spending more, you are also hopefully buying higher-quality items. (Not something shoddily made but sporting a lame label!) For example, instead of having to replace your cheap pair of sandals every summer, you buy something classic and well-constructed that will be an investment because it will last for years. This is better for the environment and better for your wallet.

Other than my wedding dress, I don't think I've ever spent $150 on a single item of clothing, so that limit might be a little high for me. But I've decided to take this challenge for a month and vow to not buy anything that costs less than $75. I suspect I'm not going to be getting any new tank tops.

 

Image via hoozone/iStock

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