Part 2: 2016's budget has been blown - did I spend it well?
I love writing these posts of reflection because it forces me to be honest, if not with myself, then at least you. Thank you for keeping me accountable.
While I love everything I bought, I sheepishly admit that a couple of items were really unnecessary. I love them, but looking at their cost and how often I might wear them, currently consider these to be splurge items. I am however, optimistic that in the long-run their lasting power will yield low cost per wears.
First up on the splurge list is my MbMj scarf. I LOOOOOVE this piece and I think it's my first piece in a very long time where I bought it simply because I love it and didn't get too hung up on the price or its longevity in my wardrobe. While I got it on sale for more than 50% off of its original $220, it's almost 10% of my yearly budget. It's a splurge for me because I own a lot of scarves and don't make it a habit to buy them, ever. All my scarves have been gifts and it is sort of an unwritten rule of mine to only add scarves that are gifts. So why did I buy it? It's just a really fun looking scarf and I don't have a blanket scarf, making it sort of OK (except that I don't make it a habit to wear scarves...but maybe now I will....) Hey, sometimes you can't get too wrapped up in logic, right? ;)
Next on the list are my Cole Haan shoes - I bought 3 pairs in one shopping trip. Collectively, they were a fantastic deal, and being all neutral pairs, perfect for work, play, and dressing up, I couldn't go wrong. So why are they splurges? Even though I've been looking out for them for some time, with the exception of the brown sandals (which I don't regret because these were the pair of shoes I needed without knowing I needed), I didn't need them at that exact moment and have plenty of shoes I have been wearing in their place, that work perfectly well. While I won't have to search high and low for them anymore, they make up almost 25% of my budget - I'm hoping that by finding them in 2016 means I won't be spending so much on shoes next year. Shoes have always been the item that hits me by surprise and I can't seem to get a handle on it - I'm not even a shoe-aholic!
My Wishbone Collection shoes - I would have to say that these 2 pairs may be the least well spent items on my list. I love them but I haven't worn them as much as I thought I would. The purple ones are awesome but they do need some stretching to get used to and fit fairly snug; perhaps a bit too snug =S I have stretched them out since I bought them but they're definitely a shoe designated for their looks and not comfort. Poor choice? Probably, but I'm going to stick with them because I can see that they are stretching so eventually, a very long time down the road, they will work. The black ones are fairing a bit better BUT, I've sort of been saving them because I love them SO MUCH. Good thing? Definitely! But bad because I wear them with too much care, making me not want wear them at all. I'm working on this! For now, these two are categorized as pure splurges, making up another 10% of my budget, and what may be possibly the worst purchases of 2016.
Last but not least on my list of splurges are the 5 bags I purchased - now, this is a bit of a gray area because, if you recall, bags are an item that I said would be exempt from my budget, so why did I include these ones? I consider them splurges because I really didn't need them and don't consider them to be an investment piece given their price. They have all served me extremely well since I bought them, and have actually gave me the push I needed to sell some of my bags, but let's be honest, I didn't need them to begin with. Hence, they are categorize as splurges, but splurge-turned-staples. They make up 30% of my budget. Now, if I ever run these to the ground and feel the need to replace them, I would strongly consider a premier-designer version to ensure longevity, and then they would become an investment piece and not included in my budget.
HOLY CR$P - my splurges amount to almost 75% of 2016's purchases, and 11 out of my 31 items. (I'm lucky that the bags turned out to be great purchases). 35% percent went towards shoes, and these are just shoes that are splurges. Remember? I bought 8 pairs this year =S
Wow, this is definitely an eye-opener and gives me some food for thought on how I might be spending next year's budget, or what other factors to consider. I realize that having a budget doesn't necessarily mean sticking to it 100% of the time, but to think I had a good handle on buying things that really worked for me, and then to find out that the majority of my spending has gone towards items that I haven't been using enough to justify the purchase, sheds new light. Not to mention the majority of my budget having gone to shoes, something that I'm working on dialing back on...
Stayed tuned for Part 3 - 2016's budget has been blown - items well spent!
If you missed it, Part 1 - 2016's budget has been blown - how did I spend my money?