I don’t buy anything on sale….

.....unless I would have paid full price for it, at which point it becomes a must buy!

Before you start thinking that I have lost my mind, allow me to explain...

The “End of Year” Sales are still going strong and for most of us, clothes shopping is a major budget buster. We spend a lot of our money shopping and try and rationalize our spending by telling ourselves and anyone who cares to listen, “I got a good deal, I bought it on sale”. But if you didn’t need it to start with, then you just wasted your money, regardless of how little you actually spent.

Recently, what I have found works for me financially but not necessarily fashionably (I am still working on that) is to take the time to develop a carefully curated shopping list. I ask myself, “What do I need this season?” I then come up with a very detailed list that includes colors and fabrics e.g. a black satchel style handbag, dark long jeans to wear with heels, brown tweed work pants.

I try to create a list that will fill the gaps in my closet, work harmoniously with other pieces and allow me to indulge in one or two trends for the season. Armed with the list, then it’s time to start shopping. I spend a lot of time searching online for styles I like before I actually hit the stores. However, I rarely buy things online because I like to feel the fabric and study the construction. Apart from the trendy items, I look for quality pieces that can last a while. I have found that taking the time to develop the list makes it easier to identify pieces that will not meet my needs. No more impulse buys that will sit in my closet with the tags still on (and I sure have had plenty of those).

Once I start the actual shopping, it is very clear to see that all those cute items on the sale rack that do not match what’s on my previously determined list, are a total waste of money. If it wasn’t on the list it means that I don’t need it - even at 70% off! That sale item is still a waste of the 30% plus tax that I still have to pay for it. You can apply the same rationale to whatever your shopping weakness is – electronics, books, furniture etc.

As immigrants we often have to save a little more than our non-immigrant family and friends. Many of us send money back home regularly to support our extended families. One also has to be prepared for the emergencies that come up such as family medical bills or a death in the family that requires the purchase of an expensive last minute flight home. Watching your clothes budget is one way to help you save a little extra money every month. Buy only what you truly need and you will find it easier to meet your financial goals.

What is your shopping weakness? Create a needs list (not a shopping list!) and don't leave home without it.