How to save money with a capsule wardrob ...

How to save money with a capsule wardrobe

Oct 13, 2021

I remember a scene in Sex and the City when Carrie wanted to buy her apartment. It really drove home the amount of money we spend.

When she wanted to find a way to pay the deposit on the apartment, she realised how much money she had spent on shoes that sat in her wardrobe.  It shocked her. She didn’t have any savings but had spent $40,000 on shoes.

This is a recent video I shared on YouTube:

https://youtu.be/UiV_9QikHVU

That is how I have felt in the past when I wanted to make progress with my savings.  I have looked at the volume of clothes in my wardrobe and just saw dollars being wasted.

If you have watched my YouTube, you will know that I will sell absolutely anything that I am not using so that I can inject any money whatsoever back into my bank account and have it working for me.

It is not too complicated and I have kept it to the 10 main ways that I work on a capsule wardrobe by working through what is already there.

Capsule wardrobe rules:

  1. Shop your wardrobe

  2. Pick your favourites

  3. Matching items

  4. Reduce the number

  5. Maximise combos

  6. Layering options

  7. Regular wearing

  8. Do you love it?

  9. Remove if not sure

  10. Review

Another thing that I do to remind myself to hold off buying more has been to use a compoud interest calculator to see how the money would grow if I invest it.

As an example, I calculated that if you saved $1000 each year by reducing your spending on clothes and investing it, you could have saved $2594 in 10 years.  That is asking you the question, would you like it to cost you 2.5 times what the price on the tag is? 

In 20 years that money would be worth $6727. Wow!

By simply finding just $1000 to divert into savings, you could be finding financial freedom sooner, and not wasting money on stuff you don't need.

Do you want to save more? Let me know in the comments. And enjoy my latest video where I go into more detail.

I’d love it if you would join by following me here so that I can keep you up-to-date on a regular basis with all the news to support you in your own minimalist and money life. 

If you are interested in simple ways to find money you didn't know you could save check out my FREE 5 day challenge in the Extra's section :)

Or if you are looking at ways to save more and create a greater volume of cash to invest, then check out my $1000 in 30 days challenge eBOOK which details the way I reduce my expenses to create my portfolio to over one million and it continues to grow!

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