I don't know if you've been watching the news, but as my job is slightly related to banking, I have been all tuned in over the last few weeks. Seeing the markets taking a turn for the worse is a scary thing...especially when it gets you thinking about the security of your own job. I don't know if we're in a recession or not (different people will say different things), but I do know that the economy is slowing down and money is tightening up. I'm working harder than ever to pay off my credit card, and I'm taking serious cuts in my spending habits. I highly encourage you guys to do the same. Pay off your debts and start saving. There may be hard times ahead! It's better to be safe than sorry. I'm no financial planner or anything, but I've been thinking a lot about my spending habits and my lack of savings, and I just don't want you guys making the same mistakes (i.e. spending all your money on clothes) that I have. :)
Looking Chic in a Slow Economy
To work with my even tighter budget, I've decided to pick a couple items a season to make my "it" items. Instead of buying gobs and gobs of clothes, I'm going to try my best to buy one or two "it" items a season and use my existing clothes to finish out the look. Now, "What exactly is an "it" item?" you may ask. I think an "it" item is a different type of thing to every person. "It" is something you really want right now, something that is trendy right now, something that you've been wanting for a long time. To me, an "it" item is something kinda trendy or "of the moment" that will compliment my wardrobe or replace something that needs to be replaced. "It" is something that I intend to wear quite often for a given season (or longer) that will enhance my wardrobe but fit well with what I already have. I don't want to get an "it" item that will require new shoes or a new top b/c that will kinda null the point of trying to only get a couple items to begin with.
I recently purchased such an "it" item:
J Crew - Distressed vintage slim jean in worn indigo wash - $135
I got these jeans almost two weeks ago, with my October budget money, and I've already been able to wear them several times. I've been super-pleased with my purchase. They are very versatile, comfortable, and chic. :)
But, back to the money-talk...my dear fellow shopaholic-friends, please do think about your finances. I obviously don't know your financial situation, but if you're a shopaholic like me, it will be hard to slow down your spending habits. To me, slowing down on shopping can be like going on a new diet. Whenever I've tried to stop eating bad food cold-turkey, it's never worked. Whenever I've tried to stop shopping cold-turkey, it's never worked. I've been weaning myself down from shopping over the last few months and I think I've been doing pretty good! I've been returning to my old habits of shopping the sale racks and looking for good deals, and I've found some great steals! I paid off one credit card and now have one more, plus the iMac to go. The only other thing I'd like to do now is set aside some money for a rainy day. :)
Take care of yourselves. Happy shopping, happy saving!