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4 ways to be fashionable on a budget

by Varsha Kiran

“Nothing to wear for the tonight, again! That cool dress which I saw today, wish I could buy that. But…damn! It is so expensive.”

A scene that’s relatable to many us, isn’t it? We all want a dream wardrobe which pops up different stylish clothes all the time. And what more it shouldn’t cost us a thing.

Well. Dream on.

With everything around us becoming so expensive, it is not surprising that a good 38% is what Indians spent on new clothes every month. This is even while the average monthly spend is a modest ₹ 500. Which makes the young aspirational Indian girl’s dream wardrobe, to be fashionable yet affordable, a lot of hard work But shopping with limited resources, need not be a nightmare. With some financial prudence and fashion hacks, your wardrobe can be stylish as well as sustainable.

So can the inner fashion diva who is fond of Louis Vuitton and Jimmy Choos meet the frugal femme? Here are 4 ways they can be happy together –

Ascertain a budget for shopping after saving

The habit of saving and investing, will only take care of your needs and but also make way for your indulgences. You are the only one aware of your saving and spending needs and patterns for both. So based on that, fix a percentage of your spending money, say maybe 5% or 10% for shopping. Budgeting for your shopping needs can help to –

  1. Create a limit within which you can spend and stops you from going berserk on spending randomly.

  2. Give you complete control of your spending money and helps you be more organised with it.

  3. Use the sale season as a great shopping time. Start putting aside 5-10% aside for a period of 6 months and spend on the sales.

What is your style

We all have developed an individual sense of dressing, based on our likes and preferences. Some of us like to be dressed classy and sophisticated, while others may like to go over the top. Whatever be it, this individual sense of styling is what makes you, YOU. And it is important to figure your style because this will help you be mindful about spending your money based on your style.

There are some styling basics which can be universally applied and they are:

  1. Save up and indulge in a few one-time investments: Few classics like black, white or beige coloured clothing (be it trouser, skirt, dress or saree) never go out of trend. And the freedom it gives you to mix and match with clothes is amazing.

  2. Investing in good lingerie will make a good fit for all kinds of clothes hassle-free.

  3. Accessorize well. It has the power to lift up any outfit and the best part is, it can be pocket-friendly.

Loosen the purse strings carefully

With the shopping budget and your style sorted, the next question is how to shop well? Well, here are a few ways:

  1. Before you end up buying that dress, you had an eye on, ask yourself a few questions like- Do I already have something similar to this? Will I be able to wear it multiple times? Will I be able to get something similar for a lesser price elsewhere? The more responsible you spend, the more money you have for yourself again.

  2. Keep an open eye for sale, research a bit on coupons and deals. Homework done well can make you spend right with great bargains.

Hacks all the way

Do you know that you can actually increase your shopping budget (without a dent on your savings) as well as revamp your wardrobe without spending much –

  1. There are apps which act as platforms for buying and selling fashionable but used clothes. You can sell your clothes which are in good condition there and plough back your shopping income.

  2. Few apps give the option to rent an outfit for special occasions. Works well. You can avoid buying as well as repeating the same clothes.

  3. Events, wherein the exchange of clothes in good condition happen, are catching up. Keep an open eye. It’s an excellent way to give away clothes which you are bored with and feel refreshed about new clothes while spending very less.

Something new is always exciting. But shopping mindfully while being financially smart can be really satisfying.

To learn more about money management, discuss all things money with a community of financially independent women and get investment advise, sign-up for Basis now. India’s only personal finance platform focussed on women.

#Fashion #SavingMoney

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