Part 1: 2016's budget has been blown - how did I spend my money?
Well, for the rest of the year, I have nothing left in my wardrobe budget. I exceeded it by $145. Since this is the first year I've actually implemented a budget to work within, it's interesting to see my thought process towards how, and what items, I placed against my budget, and what I plan to do for the rest of the year.
Having tracked my spending habits in 2014 and 2015, I gave myself a budget of $1,000 towards my wardrobe with a few guidelines and exceptions that I made at the beginning of the year.
So far, I've been able to check off two items from my Wishlist and needs list - a pre-loved Speedy, and as luck would have it, a gray wool winter coat during the Aritzia warehouse sale.
The only other piece I didn't count towards my budget is the MCM wallet I bought during my trip to Korea. While not a needed piece in anyway, it holds a lot of sentimental value as a memory of my trip, and fills a gap in my collection - the mini wallet. Hence, I treated this as an 'investment' piece and outside my budget - I've been using it every day since I moved into it.
Now, this is how I spent, and exceeded my budget - I purchased:
- 5 bags (2 totes, 2 crossbodys, and 1 satchel)
- 1 belt
- 4 bottoms (pair of casual pants, dressier shorts, a skirt, and a pair of dressier sweatpants)
- 2 dresses (one specifically for New York, and another I found for work and play)
- 2 layering pieces (just neutral camisoles to wear under more sheer clothing)
- 1 scarf
- 8 pairs of shoes (yes, 8 pairs =S)
- 8 tops (a red sweater was specifically for Chinese New Year)
The total number of items I bought is 31! I included the layering pieces even though they are more functional and necessary than stylish because I didn't want to make too many exceptions. I intend on keeping next year's budget at $1,000 and eventually aim to make it a yearly budget that includes 'investment' and necessary items . I figure the harder I am on myself, the easier it is to follow a budget if I really need to lighten up a bit on what I count towards it. Makes sense?
Stayed tuned for Part 2: 2016's budget has been blown - did I spend it well?