Wednesday, January 2, 2013

New Year, New Plan

I have tried I don't know how many times to set a clothes budget, and have always failed. This time, I am making some changes and trying again- this time hopefully succeeding as well! January is my first month on the budget.

I've done some calculations and decided on the rules I have set up for myself below. I tried to get rid of all the loopholes I have used before when I tried to restrict myself but really didn't want to. I really do want to reduce my consumption and only buy better quality items that will last longer and are produced under fair working conditions.I really do want to use what I have and have a versatile, smaller wardrobe. I don't want to continue to be so materialistic and I don't want to just consume, consume, consume.

The 2013 Budget

The Rules

1. I have a cap of $125 a month. The GOAL is $62.50 a month or UNDER.
2.This includes purchases of all clothing, purses, shoes, and accessories for myself. This also includes underclothing, pajamas, hosiery, and replacement clothing for items that wear out or are needed for a specific application.
3. The budget includes all taxes, shipping and handling, alterations, etc.
4. There are no exceptions, including my birthday, holidays, and specific wishlist items.
5. I can allocate money from month to month (take leftover from a previous month, take a little from the next month to cover the current month) but cannot go over the total cap of $1500 for the year. I also can't take from the next month more than 4x this year- the point is to stay on budget. The GOAL is to spend $750 or less this year.
6. I can accept gifts and use gift cards. I cannot accept gifts from my husband with the exception of my Birthday, Mother's Day, (ETA: my wedding anniversary), and Christmas.I can sell clothing and use that money freely (but only the money I actually receive after fees, starting again January 1st).
7. I must post monthly my budget progress. I must note everything related to the budget including gifts and selling items.
8. All purchases, gifts, and current items must be documented on GoChicOrGoHome. I am still in the process of this.

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