Hi everyone,
I am a 24 year old Aussie girl with a 50% savings rate. In 2014 I am aiming for a 60% savings rate while still enjoying a holiday to the US. So this is a big step up for me.
I am guessing that by the end of this year I will have spent something like 5% of my income on clothes making it my 4th highest expenditure category. If I can significantly reduce my spending in this category as well as a minor reduction in spend across some other categories I should be on target to each this goal.
As such I declaring 2014 the year of no clothes shopping and I would love you to join me on this challenge. Here are my rules, you can use these or your own, post below and we can hold each other accountable:
- I can buy underwear
- I can buy shoes (I only own 4 pairs apart from flipflops, ugg boots and sports shoes, so if a pair broke I would be in trouble!)
- I can buy basic black hosiery for work (nothing fancy), but as I don't own any pants for work it's a requirement in winter or I will freeze!
- I can buy a sporting club uniform if I make the team.
- I will let myself have some music festival/concert tour t-shirts when I am in the US. (I'm still wearing some of the ones from my last trip to the US 4 years ago, but they are starting to wear thin and I really like them as they are a reminder of my trip that I can use regularly.)
-If I have the opportunity to purchase hiking boots and a lightweight, waterproof jacket second hand I will, otherwise I will buy these items in America (where they are more affordable) as we are hoping to do some significant hikes on our trip.
-I can accept free clothing (hand me downs)
-I will be a bridesmaid in two weddings, I can buy a dress if it is a specific requirement (i.e. we all have to wear the exact same). If we are instructed to wear a certain colour I will use something I already own or borrow something.
-I can buy zips, buttons etc if required to mend existing clothes or make clothes using fabrics from my pile/hand me down fabrics.
-Aside from the above I cannot buy any clothes, new or second-hand. I have excluded buying second hand because otherwise I will still buy gently used clothing on ebay and it's not exactly cheap, even if it's cheaper than buying new.
I am posting this challenge now because it will focus what I do buy for the rest of the year down as I gear up for this. Purchases before the end of the year will be a new backpack, some cardigans for work and a new bikini (all to replace broken stuff I use regularly). I don't expect to buy anything else this year, so the challenge will likely be closer to 14 months, which is a good thing!
Who's in?
Melody