Sartorial Savings

{via Hotel de l'Abbaye}

Lately, I've been reevaluating my relationship with finances. A few weeks ago, a (fortunate) encounter with hail - and a hefty check from Geico - allowed me to pay off my auto loan. Eliminating a monthly bill is a huge relief, yet I'm planning to continue payments - this time into my savings account. This has also led me to contemplate discretionary spending - clothes included.

It's not like I need another dress and I certainly don't need to spend another $20 on baubles from Forever21. That's why I'm starting a clothing budget. And, really, it's more of a "sartorial diet." After all, diets are fashionable, right?

On average, I spend $200 each month on clothes and accessories. The problem is that I have magpie-like tendencies with costume jewelry and the rest usually goes to low-priced basics. This would be fine if my favorites weren't jaw-dropping statement pieces that I've saved for. With my current spending habits, I can't justify these often.

So, here's what I'm doing: Each month, I will take $200 from the month's first paycheck. $100 will go into a "sartorial savings" fund and $100 will be for monthly clothing expenditures. The money in the savings account will remain untouched until next autumn. In one year, I'll have $1,200 to spend guilt-free on anything I love - maybe a handful of dresses from Diane von Furstenberg, or one incredible piece by Temperley London, or (finally) an Hermes Clic-Clac bracelet, or maybe a more frugal approach with purchases from Gilt. The point is that this is an opportunity to purchase something beautiful that I'll cherish for years.

If any cash remains at the end of the month, I'll let it roll over to the next month. And to stay accountable (and motivated), I'm including the month's expenditures in the left sidebar.

Wish me luck!

Do you adhere to a shopping budget? What tips to you have to stay on track?

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