People are asking, “what can I possibly cut back on that will make a difference in my money?”
Today, we are discussing how to stretch your wardrobe and pay down debt. It’s not as difficult as you might think.
Find out how below.
Here are several ideas to consider. Whether you try these suggestions or let this blog get your creative juices flowing, I want you to realize two things.
First, these inspirations are tried and true
When a person implements realistic cost-cutting measures - to their full potential - this same person will have the ability to decrease spending. Why?
Because you are doing everything you can to cut costs in one area of life to apply these savings to your debt balances. However, there is a cautionary detail I want you to know.
Each dollar of the money you save must be applied consistently toward an outstanding debt to quickly reduce the balance you owe. (If you are wondering which bill to attack first - we discuss this in my free debt relief workshop.)
Second, this one makes people jump for joy!
you won’t have to stretch your wardrobe forever.
How can that be? You wonder.
Here’s how it works:
You are taking the money you save on buying clothes and using it as a hammer to knock out bill number one.
Once bill number one is paid off, that original payment amount (for bill number one) now acts like a chisel to chip away at bill number two in your payoff list.
By the time you get to the 3rd bill in your payoff list, you have the hammer (which is the money saved on buying clothes), plus a chisel (the original money used to pay bill #1), plus an ice pick (the original money used to pay bill #2) to chunk out bill number three.
Your payments just keep getting larger because you have paid off previous bills.
Here are some Wardrobe savings ideas:
Repurpose each major piece of clothing.
For example, let’s say you have a blue blazer that you always match up with a specific pair of blue slacks. Next time, match this solid blue blazer with plaid slacks or a skirt. The following time match this same blazer jacket with a solid light color pant or skirt. You may have to get a couple of solid color tops, but this is generally less expensive than buying the other pieces.
Other relatively inexpensive purchases are scarves, vests, and sweaters you can mix or match to create a different look.
Shop thrift stores.
You may be surprised to discover what you can find at thrift stores. Include your local Goodwill stores in your shopping trips. The prices are generally quite fair. Also, there may be certain days of the week when a specially colored tag is on sale for 50% off!
Alternatively, you can buy some major pieces of clothing at thrift store prices - including dresses, next-to-new blazers, suits, and fall and winter jackets.
This last idea may sound strange if you are not familiar with the law of sowing and reaping. (The term law here means this works for anyone.)
We learned this one years ago. When you give nice things like clothes, jackets, and accessories to other people (especially the ones with the tags still on them), before long you will experience someone else approaching you with nice clothing items (tags on; never worn).
The truth is, you get back what you give out.
The same is true in reverse - give junk, get junk.
So, give good things and you’ll receive good things in return!
Also, worth mentioning here is that when you give nice things to a certain person, you may or may not receive your “something nice” back from that same person. Often, it is someone completely different who blesses you with some quality items!
On behalf of myself and my team at Budgeting Essentials, I thank you for letting us share this blog with you!
I get it. It’s hard to understand something you haven’t gone through, so, take this thought with you:
If I am willing to implement or at least TRY new things, I just may get my bills paid off faster than I thought!
Dan the Budget Man website:
https://www.BudgetingEssentials.com
We Offer:
FREE - Debt Relief Workshop
A free workshop -> Getting out of debt = $0
We Offer:
Debt Relief and Budgeting Program
Getting out of debt = $one-time low fee
Our mission is to help you
in spending money wisely
in your personal life and
in your small business life.