A peek inside the closet of anyone who is remotely interested in fashion will reveal a wealth of wardrobe options that could only have been accumulated through the lavish spending of wealth. Most of those who have closets brimming with clothes would likely wish to reduce the amount they spend on clothing while also freeing up some much-needed closet space, but many feel that this is hard to accomplish without having to make sacrifices in terms of quality. Fortunately, the financial strategists at Ian Leaf Corporation have offered a unique option to address this issue.
Though it may seem counterintuitive, the best way to reduce clothing expenditures is to raise the minimum floor on spending for individual purchases. This will serve a number of beneficial purposes that include reducing the total number of items added to the wardrobe while also ensuring that the items added are only of the highest quality. With a raised floor on spending it also become more likely that purchases will be thoughtfully evaluated rather than made on impulse. How much the spending floor is raised will depend on each individual’s personal financial status, as a $100 floor may simply not be enough for someone who brings in seven figures annually.
Before implementing this strategy, it is best to go through the closet to eliminate anything that is not a necessity. Even something that is appealing when it is pulled out of the closet should be discarded if it has not been worn in the past six months. Ideally, the goal should be that the closet only includes items that are of excellent quality and are used with relative frequency. Once this fashion purge has been completed, the focus can shift to adding items to the wardrobe only if they first meet the required spending minimum.
Most people who have adopted this strategy find that they do not buy clothes unless they have thoroughly evaluated if they will be useful enough to warrant the relatively high cost. Since there is more care put into evaluating the clothes that are added to the wardrobe, impulse spending along with fashion spending on the whole is reduced. This is because it is much easier to spend $40 or $50 several times over than it is to spend $200 on a single item. The former strategy will likely yield purchases that are wasteful expenditures, while the latter strategy encourages high fashion purchases that represent a true value to the buyer.