Is my spending out of hand?

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Message edited 10/1/2014 11:22:31 AM.

Is my spending out of hand?

Normally, i'm right there with you! Between my SF, then my weekly runs to Marshalls, online shopping Macys and Rue La La, i'm just out of control. DH switched jobs two months ago so i'm on a new budget and had to cut back substantially! It's devastating. Trying to not spend money on clothes is torture for me. Don't get me started on Sephora! I'm already a VIB Rouge member for NEXT YEAR! it's disgusting.

Re: Is my spending out of hand?

I had no idea I was spending this much. I know some ppl drop $500 on one pair of shoes, but I really thought I was spending in the $250-range per month on stuff. Oooof.

Re: Is my spending out of hand?

I don't think that's too bad if it's stuff you are wearing season after season. I have scaled back a lot... I am in the $250/mo. range if that. I actually want to do the opposite of what I am doing now and buy more expensive well-made staples since I don't dress up often and need things to be more timeless.

Re: Is my spending out of hand?

I only shop for clothes a few times a year (generally when the seasons change), so I would say if I averaged it out per month I spend around $60 a month on clothes/shoes/accessories. However, I'm definitely not the norm.

Re: Is my spending out of hand?

I don't think $400-$500 in one month is terrible, but if that is average for every month, that really adds up. My spending is more of an issue with makeup--last year I spent $1K at Sephora, and didn't realize it was so bad until Sephora told me!

I don't know how much I spent in the last month on clothes & accessories, but I do know that I only bought 1 pair of new shoes, a headband, and 2 workout tanks & 1 pair of gym shirts.

I go in spurts. I tend to buy more at the change of seasons, or when I am going away.

I think this summer I bought 2 new tops, a work dress, 2 party dresses, gym shorts, 3 or 4 bras, 2 pairs of sandals & 1 pair of heels (I had a wedding to go to).

Re: Is my spending out of hand?

It really depends on whether you can afford it. To some people that may be nothing, to others it may blow the budget. I dont think its insane if your other expenses are in check.

We have been tracking all of our spending in mint for the past 2 months and it's eye opening. We have also been making a conscious effort to save money starting mid-Aug (with mixed success -- we still had to dip into savings in Aug and Sept due to crazy house-related expenses) and I am very pregnant so I haven't been clothes shopping much.

I allotted $120/mo as a clothing budget in mint which technically includes me and DH, and unless I buy something today I will finish Sept $129 under budget in that category (I spent $18 on three long tanks from Target because I was running out of shirts that would cover my belly and made a $27 return to Banana).

But, I will sometimes buy a more expensive item (like in late July I bought a $300 purse) so it balances out.

Re: Is my spending out of hand?

Re: Is my spending out of hand?

Re: Is my spending out of hand?

Re: Is my spending out of hand?

See, I LOVE to shop. I'm not a big spender, but I'm at Marshall's multiple times a week scouring the racks... but $60 and $40 there adds up... and it adds up to more than I realized.

Re: Is my spending out of hand?

Re: Is my spending out of hand?

Message edited 9/30/2014 2:40:00 PM.

Is my spending out of hand?

Wow, I totally cannot picture spending that amount of money on clothes every month, so you can't go by me. But hey, to each his own. If you can afford that amount of money, go for it.

Re: Is my spending out of hand?

For me, if I spent close to $500 a month on clothing/shoes/accessories, then my spending would be out of hand. Like another poster said, if you can afford it, then being out of hand is all relative.

I hate shopping, and I usually only buy clothes a few times a year, and stick to one or maybe two stores, and then call it a day.

I actually spend more money, and more freely, on my children's clothes. I take things off the shelves and racks with reckless abandon, and online shopping is dangerous. But for myself, I'm way more frugal.

Re: Is my spending out of hand?

Can I afford it? Lets just say I do NOT make 100k a year, so... probably not.

It was a wakeup call, though. I really didn't even REALIZE how much I was spending, b/c I usually use my debit card so I'm not seeing a bill at the end of the month.

Re: Is my spending out of hand?

I am right there with you. I didn't even realize how much I was spending until I added it all up recently! Our lifestyle is about to change because we are now buying a house & we have to do renovations. I am not used to being on a budget at all but if I don't begin to watch myself now, we'll end up in deep sh!t. For me it's when I am bored, I will browse online & shop more than I need to.

Message edited 9/30/2014 3:18:49 PM.

Re: Is my spending out of hand?

It depends if you have the money to spend. I don't... I think in the past 2 months I have spent $25 on myself. Bought a new shirt and felt guilty about it! I hate my clothes and need a new wardrobe too! Oh well!

When I was in a better spot financially I probably spent like $50-150 a month.

Message edited 9/30/2014 3:47:32 PM.

Is my spending out of hand?

Do you have the Marshalls credit card? For every 1000 points you get a $10 voucher. I picked the store that I shop at the most and got their Visa card. I pay for as much stuff with this card that I can bills (verizon, cable, car insurance) work expense items and gas. I get $30 - $40 in vouchers almost every month.

Message edited 9/30/2014 4:17:06 PM.

Is my spending out of hand?

Before I bought my house I probably spent that a month. It's funny, while I still love shopping for clothes and accessories, I'm always looking for deals and spend much less because I'd rather buy something for my house. I do splurge a few times a year on something expensive that I really have to have.

Re: Is my spending out of hand?

I know its sometimes worth it to get the CC, b/c I feel like it will eventually make me spend beyond my means - when I use my debit card, I can't spend more than I HAVE in my checking.

Re: Is my spending out of hand?

IMO it depends on 2 things.

1. Can you AFFORD your shopping
2. Are you actually wearing/using/enjoying your purchases?

If the answer to #1 & #2 is Yes, then I don't see a problem even if you're spending $2,000 a month - it's all relative to your income, and your responsibilities, savings, priorities etc. -

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Re: Is my spending out of hand?

Each persons situation is unique, like if you have no mortgage or huge expenses and are not saving for anything than you can spend this much until any of those variables change.

A single woman making say $75k renting a 1 bedroom with no kids or college debt can spend this type of $. However, 10 years down the line she may have wished they had the extra 60k + interest in the bank.

Re: Is my spending out of hand?

I think everyone has that one thing they spend lots of money on. For me, it's food and wine. I have no problem dropping $300 on a kick *ss meal for 2 or $500 at a wine boutique---but I'm doing it with a $19.99 pocketbook. However, I have noticed an appreciation for some nicer things in the retail section of my spending and that gets me a little nervous. (Not crazy like one of my nieces who loves high fashion--but like $75 on a shirt crazy.) This makes me think I need to go out less if I'm going to go out in a $75 shirt. :o/