How to budget for you Spring Capsule.
In the blogosphere money and budgets is probably one of the last few big taboos which rarely gets talked about. Although I won’t be going into exactly my own monetary situation, I wanted to take a pause and talk a little bit more about how you can make your budget more realistic, making your capsule wardrobe work its best for you.
First, be honest, how much did you used to spend in a month?
Back in the olden days a bad month would have been about £300 + in one month, sure I didn’t starve because (thankfully) I made sure to always have my main commitments come out literally days after being paid, but the amount spent on clothes? It was unrealistic and frankly daft. I choose insignificant things over saving and preparing for mine and Joshes future. Horrendous.
Now scare yourself . . .
And times it by three (or the length of capsule) £300 x 3 = £900? I spent £900 on clothes which I probably don’t even have anymore!! Now imagine spending all of that at once, is that realistic for your lifestyle? Probably not, since this certainly wouldn’t be for me!!!
Time to be realistic.
So you by now you may have admitted that you have a problem so now’s the time to be realistic and work out your outgoings and be honest. I included everything from impromptu second breakfasts (this happens to me ok – it comes with the problem of having your breakfast at twenty past six and getting into work at quarter past nine!) to how much you spend on magazines making sure you include savings!
I find going over the past three months helpful to see exactly how much I spend and where.
Now examine how much is left. How much could you realistically spend per month without sacrificing things like buying a magazine, catching a cab back after a night on the town or even coming out of the month with a little extra cash in your pocket! I find its best to work out how much you want to spend monthly rather than just one shop as its easier to track and also the next thing . . .
Save in advance
Seems real old school but save up for your capsules in advance. There’s no point crippling yourself for a month when you could have been making manageable savings over a three month or more period.
Vary how much you save for different seasons.
For me its Spring and Summer so I wanted to keep my budget smaller and make my capsule wardrobe stretch further. This capsule is bigger but I spent less. In this months terms this particular capsule could span from May to October which is five plus months. However for October I know I will need to have saved more, why? Because coats my friends they cost more, it sucks but its true.
For this capsule I budgeted £150 I have actually spent £160 so £10 over but that’s close enough for me. When I divide this up I am technically spending £32 a month which is great in my book! Now because of this, during the spring capsule I am now saving an additional £35 a month to put away to prepare for my next capsule. With five months that means there will be an additional £175 in the kitty for October even though I will probably deduct a little extra from the month of October since having that bunce money is amazing. Look how much less money I will be spending moving forward! In fact if I break it down, I am saving, £265 a month!! So in total over five months (just to scare us all) that’s £1325, amazing right??
So this is really just how I work out my budget and how I’ve made it work for me this time around. By next year however I might have a completely different way but for now I find scaring myself with the realities of my old budget a great motivator for being more sensible with my shopping!
How are you budgeting for your clothes, have their been months when you too have broken the bank?