Living Below My Means Too Much?

**boefixepa** · 10-24-2006, 02:16 PM

Re: Living Below My Means Too Much?

Fair warning...a little at a time on clothing is better than realizing that if you don't do something soon you'll be nude. Been there, more than once (I hate clothes shopping) and end up spend a few hundred dollars to fix the problem. So if that's what needs to be done and doing so is not a killer, which I believe is the case for you, then by all means reallocate until you arn't wearing thread bare clothes. Also search for threads on ways to go shopping fugally. Check out second hand store, resale shops, and the like. You can find some great finds once in a while. Personally I don't have the patience for it. (Did I mention I hate clothes shopping).

**jodi** · 10-24-2006, 02:56 PM

Re: Living Below My Means Too Much?

Have you considered secondhand items? I can get an item (shirt, pants, etc.) for about $5 each - and quite often, $3 or even less at garage sales. That would provide you with 6 new items, or 3 outfits, per month on your budget.
If it's not something you would normally consider, then check it out - a lot of people think that the clothes will be of bad quality or out of style, but I have found the opposite to be true. By the time clothes make it to the thrift store in one piece, they are usually built to last. I have had much more success there than I have with new clothes, which I usually manage to ruin or shrink within a wearing or two

**bjl584** · 10-24-2006, 03:32 PM

Re: Living Below My Means Too Much?

Just to warn you, your idea of contributing less to your 401K in order to buy clothes is going to be VERY unpopular here. I don't think that you're going to get much support for that idea. I would have to say that you don't want to do that. I don't think that I've spent $30 on clothes in the past year let alone in the past month. I was just never really into it. Anyway, I would look to cut someplace else besides your retirement account. What else are you willing to give up in order to buy more clothes? Cable TV? Cell phone? Internet? Starbucks? Going out to lunch? Alcohol? Cigarettes? Think of something. Don't mess with your retirement accounts for the here and now. That's just my opinion.

**getforfree** · 10-24-2006, 04:59 PM

Re: Living Below My Means Too Much?

$30 a month should be more than enough for one person. You can buy at least 2 new items every month even if you shop at regular stores, not thrift stores or garage sales. If you get your items second hand, you can get like 10 or more items every month. Maybe you just should make a list of clothes that you will need within the next 3 months, and try to fit it in the $30/month budget, and stick only to that list. For example, if you need 1 pair of tennis shoes, some socks, underware. Prioritize, which items you need this month, which can wait another 2 months. Just make a plan and stick to it. You can make it with $30/month.

**Cheetahwoman7** · 10-24-2006, 05:42 PM

Re: Living Below My Means Too Much?

Amissa,

Have you ever thought of putting up a request on Freecycle.org? They're located all over the U.S. When I was going back to work after having taken care of my mother for two years, I found that almost NONE of my clothing was appropriate for the work place. It was VERY old and way too casual (think sweat pants!!!). I put in a "Wanted" ad online and had several people kind enough to donate clothing to me. I ended up with a full wardrobe for the year! Anything that didn't fit or that I wouldn't have worn, I put back up on Freecycle.

I've also requested things in the "Wanted" section of Craigslist. When I needed some firewood for a weekend camping trip, two separate people offered me plenty. Anyway, those are my ideas. If you don't cringe at used clothes (and I'm telling you many of the pieces I received had TAGS on them!!), then give them a try.

Hope that helps,
CJ

**lgslgs** · 10-24-2006, 06:06 PM

Re: Living Below My Means Too Much?

It sounds like you have good financial habits in place and can budget for a bit more purchasing freedom if you choose to.

I'd recommend making a spreadsheet that you can use to predict your savings and investment growth, and estimate the date when you will be financially free to stop working if you choose.

Then consider your possible increased spending, see how it affects your financial freedom date, and decide if you are comfortable with a bit more luxury in the present.

I retired quite early this way, but there were certainly times when I was willing to budget in a bit more freedom in some areas. What really worked well for me was just having good info available so I could make those choices in a fully informed way. We still use the spreadsheet as a tool to look at how we draw from our nest egg, and how free we are willing to be in various budget areas.

Also keep in mind that you could do a one time boost to your clothing budget - either by diverting savings, scrimping for a month on something else, or other ways. One really great one might be to get a part time job for the holiday season at your favorite clothing store and use earnings and employee discount to your advantage.

Lynda

**katwoman** · 10-24-2006, 06:13 PM

Re: Living Below My Means Too Much?

Clothing is one of the cheapest things out there.

The obvious way to go has already been mentioned - thrift stores, consignment shops and craigslist/freecycle.

Some people, no matter how hard up, will never go for those options. This sort of individual wants new, never before worn. OK, no problem:

~Do you have a Kohls in the area? Get their credit card and reap the rewards of 15% off (or better) just for their card holders in addition to their regular sales. Kohl's always has sales and clearance racks.

~Do you have a Value City dept store nearby? Get their credit card and sign up for their V Plus rewards card and emails. You will get 20% off days for having their credit card and email/snail mail coupons. Not to mention their phenomenal selection and prices. And their shoes! Foundations are cheaper here (and the same names) as the dept stores. Heaven.

~Do you have a Syms in your area? Sign up for their emails. Discounts on top of discounts.

~Lord & Taylor? Always coupons for this store.

~Burlington Coat Factory? $10 gift card when you spend $50 coupon offer every Fall and Spring (around Easter).

Really, clothing should be one of the least of your worries. My guess is that you may not be good at coordinating a wardrobe. Neither am I! In that case you ask someone who is good at it to help you out. With a few really good pieces you'll be able to stretch out what you've got! Good Luck!

**tinapbeana** · 10-24-2006, 06:29 PM

Re: Living Below My Means Too Much?

yeah, i gotta second the opinion that coordinating your wardrobe is way more than half the battle! having working business casual and professional environments, it's easy to feel like you stick out like a sore thumb and loose a little focus on the actual work at hand.

easiest trick i know is the 5-10. have 5 bottoms that will get you through a work week. have 2 tops that coordinate with each bottom, that gives you 10 outfits or 2 work weeks. even better is if, with the same 10 tops, you can mix them with your bottoms: that'll give you 3-4 weeks of options without wearing the same combination twice. more than enough.

another trick is shell or shirt plus cardigan/jacket. wear the shirt + a bottom, shirt + cardigan + bottom, shirt + jacket + a bottom = 3 different outfits.

or, to make it really simple: 3 pairs of pants (black, brown, navy) 3 skifts (black brown navy), 2 pairs of shoes (black brown), and 10 tops (since just about anything that goes w/ brown or navy will go with black!). throw in a cream colored jacket and a cream colored cardigan and you have, just a sec... 180 outfits if you can wear all the tops with all the bottoms, and you toss in the cardigan and the jacket.

wow, didn't think it would be that many!

**PRICEPLUS** · 10-24-2006, 08:04 PM

Re: Living Below My Means Too Much?

A little planning and you can really stretch the clothing dollars. I try to buy things that never need dry cleaning. Dockers and cotton/poly stuff at Kohl's. I always look for sales. Clearance racks are also good. Second hand and consignment stores are also good. You do what you have to do to get by. 401 to me is sacrosanct! Just my .02 cents.

**lrjohnson** · 10-24-2006, 08:31 PM

Re: Living Below My Means Too Much?

I'd make sure I really thought it out first.

What pieces do you feel you are missing? Do you have enough basics? Have you found the best department stores sales? The best consignment stores and thrift shops? Do you buy pieces that go with other items? Do you need more work clothges, date clothes, outdoor clothes? Do you have too many jeans but no t-shirts? Do you have too many dry clean only peices? "I need more" can be pretty vague. But nailing it down, such as "I hate the cheap socks I buy and want a couple of wool pairs, and I really needs two pairs of nice slacks" is more concrete, and doable, and specific. And once you nauil down your specifics, maybe you won't need to go over the $30 a month, or will only need to go over for a couple months until you fill what you think are gaps.

**tgavin71** · 10-24-2006, 08:33 PM

Re: Living Below My Means Too Much?

Originally posted by tinapbeana

yeah, i gotta second the opinion that coordinating your wardrobe is way more than half the battle! having working business casual and professional environments, it's easy to feel like you stick out like a sore thumb and loose a little focus on the actual work at hand.

easiest trick i know is the 5-10. have 5 bottoms that will get you through a work week. have 2 tops that coordinate with each bottom, that gives you 10 outfits or 2 work weeks. even better is if, with the same 10 tops, you can mix them with your bottoms: that'll give you 3-4 weeks of options without wearing the same combination twice. more than enough.

another trick is shell or shirt plus cardigan/jacket. wear the shirt + a bottom, shirt + cardigan + bottom, shirt + jacket + a bottom = 3 different outfits.

or, to make it really simple: 3 pairs of pants (black, brown, navy) 3 skifts (black brown navy), 2 pairs of shoes (black brown), and 10 tops (since just about anything that goes w/ brown or navy will go with black!). throw in a cream colored jacket and a cream colored cardigan and you have, just a sec... 180 outfits if you can wear all the tops with all the bottoms, and you toss in the cardigan and the jacket.

wow, didn't think it would be that many!

Some great ideas there. I am always having trouble with my wardrobe.

**Amissa** · 10-25-2006, 07:21 AM

Re: Living Below My Means Too Much?

Oh wow - I didn't expect this many replies! Thank you! Note: This is a lengthy post.

First off, I do hit up thrift stores - I don't care about fashion and having the latest & greatest. I'm a little picky about my clothing, so if I find something that I can't live without, I buy it in two or three colors. All the shoes I could possibly need (all 8 pairs) are in the floor of my closet. I do have Syms within reasonable driving distance, Kohl's close by, SuperTarget (still figuring whether their clothing will last), and a Dillard's with slow moving inventory on the styles that I prefer (which means I wait til it's on sale and they'll still have my size). There's even an outlet mall that I occasionally visit, but I find the prices aren't really better than the regular stores on many items, just some.

I have no patience for digging through racks of clothing at Ross & the like, nor garage sales. Maybe I'm too proud? I will check out Freecylce, cuz I've got some clothes that were hardly worn & they don't fit anymore. I'd be happy to trade them or give them to a specific person - I've got my eye on a resale shop that benefits a local women's shelter too.

I do shop around - I've found some great deals, e.g. Bandolino shoes for $10 with tax (original retail $60) and some Skechers for $29.61 with free shipping (retail everywhere else for $60). However, finding the deals requires shopping, which tempts me to spend money more often. Maybe this is my problem? I'm fairly disciplined & often I'm just not in the mood to spend money. (Sometimes I am in the mood to spend!)

As far as money management goes, I've been using MS Money for a few years now & I don't know how I go along with it before! I love the cash flow forecast. After all bills & deposits are entered, I look to the lowest point in the forecast in the next 90 days and remember however much I have left. Any money I spend outside of my regular expenses are deducted from that figure in my head & it keeps me from going into the red (b/c I don't like getting too close to the line).

Re: Kohl's credit card, my first inclination is to say 'no thank you' without thinking about it. I've got three cards now & I've been looking to close one b/c I think it may help my credit score. However, if I begin to shop more at Kohl's, I will definitely consider their card more seriously, but only if I can stick to $30 a month - plastic is too tempting to spend more than budgeted and then I hate being strapped that much more to pay it off quickly.

I never buy 'dry clean only' unless I love the piece so much that I cannot live without it. Even then, dry clean only items tend to be more formal pieces that will not be worn very often and there's the dry clean touch-up garment kit where I can do it in a dryer. (This is also part of my predictament; I've been invited to recurring formal dinners once a quarter, starting next month. I've creatively salvaged a bridesmaid dress skirt & paired it with a velvet top.)

Thank you also for pointing out that I should assess my current wardrobe. I live in Texas, so it's just now beginning to cool off a little & our winters are more wet than cold. When I switch out my seasonal clothing, I'll definitely assess the condition of the item (some sweaters are beginning to lose their shape), whether it can be repaired cost-effectively, whether I will wear it and then determine its fate. I may have become the lady who has a closet of clothing and nothing to wear, without realizing it.

Having looked at my bills last night, I realized that my car is my biggest expense. I have a used Honda Civic and even though my record is nearly spotless, my insurance is $79 a month (best deal I could find for what I want/need). My loan payment is $220 a month with another year and a half to go! I don't have cable TV, internet access or a home phone, just a cell with a $40 plan that ends up being $50 with taxes. I've even audited my cell phone usage & shopped for a better plan, but nothing is better than what I've got. (I used to be on prepaid until I didn't have a home phone anymore.) I'm cold natured, so my electric bill is usually about $50 a month & my apartment is (luckily) positioned as to keep cool anyway. (The AC has only come on twice since Labor Day.) I'll all for layering the clothing to keep warm, but this is my first winter in this apartment. I stick to $20-25 a week for groceries/household products/hygiene/cosmetics, I eat out once a week, for an average of $8.50. I get an average of 33 miles per gallon with mixed city/highway miles and only a seven mile commute to work. $68 a month to my student loan; $395 rent with water/trash paid (anything much lower will be questionably safe) - I even checked into housing assistance, for which I think I qualify, but I would have to spend 15% of my monthly income (about $600) towards housing before I get any help to cover housing expenses above that floor. About $85 a month goes to a post-tax IRA every month (a floor amount that I cannot reduce), and about twice as much into my 401(k). I've been saving about $120 each month into a regular savings, until this week. I need that money for an out-of-town wedding for which I am a bridesmaid this weekend (of which is going on plastic so I don't overdraw my cash accidentally).

Again, thank you all for your support. I don't feel as pinched now, realizing that there are other ways to work my situation without robbing my retirement of exponential growth.

**LuxLiving** · 10-25-2006, 08:07 AM

Re: Living Below My Means Too Much?

One mention I didn't see in this great thread is that of buying classic lines AND in solid colors.

I have only one or two patterned pieces in my entire wardrobe. Solids make mix-match so much easier. Classic means your basic never go out of style pieces. A-line skirts, etc.

I have a uniform - black - Black shell, black skirt or pants. Bright jackets in various colors to change it up. Spend a few of your $30 at the dollar type stores buying this seasons earrings/necklaces/bracelets. Spend another few at the thrift/consignments buying this year's scarf/bag knock-off/shoes.

Good luck. Dig deeper to stretch what you've got planned already and keep up with those retirement savings. You sound like you've got a great plan and are using good sense spending your budget! Kudos!

**sakigt** · 10-25-2006, 10:45 AM

Re: Living Below My Means Too Much?

While I dont think stopping retirement savings every month is a good idea, I do think a one time splurge is in order. Sounds like youre doing an excellent job on minimizing expenses on other things.

Do this: Write down a list of the clothes you want and try to be specific. Take a set amount out for the things you need $100 should do.

Heres how I get dressed on a very tight budget:

Sweaters, Coats: Used on Ebay.
Jeans: Save for the best, own only 2 or 3 pairs
Shirts: Ross and AE with coupons online

The most important thing is not to overbuy and buy things you already have, dont really need, costs too much, etc.

Living Below My Means Too Much?