What’s the Cost Per Wear of that Shirt You’re Wearing?
How do you know if the clothes you buy are worth what you spend on them? Are you being frugal? Are you saving money? Are you paying a little extra for quality and getting your money’s worth? Are you making a smart choice with your money or simply rationalizing your tastes? It can be hard to know sometimes.
That’s why I truly loved the “Cost per Wear” matrix that I came across while I was writing a recent review of “The Frugal Duchess” by Sharon Harvey Rosenberg over at BlogHer. Nina recently reviewed the book as well and you can catch her thoughts in the Queercents review.
What the “Cost per Wear” matrix is, according to The Frugal Duchess on page 40 is a way to calculate the true value of your clothes. This frugal strategy was advocated in the business book “How to Say It For Women” by Phyllis Mindell. Here’s how the matrix looks:
Garment Clearance Price # of Wears Cost per Wear
Silk Shirt $15.00 30 $.50
Biking Pants $50.00 200 $.25
Tight Jeans $70.00 5 $14
So you can see, it is not so much about the cost of an item, but the combination of cost and wear you get from it that determines whether it is a good deal or not. Meaning, whether you’re getting your money’s worth or not.
As a kid I could always remember shopping for a good sale with my Mom. I also clearly remember her teaching me even as a teenager that there is a difference between a “trendy purchase” and a good, quality, standard piece that you can get lots of mileage from. She would allow me to buy a certain number of clothes each year from the “must have I’m a teenager, it is the 1980’s and I NEED collars that turn up and long, groovy Duran Duran looking stuff” and would build the bulk of my wardrobe from proven basics. In the end, with the exception of a few prized pieces of clothing, my Mom’s theory was right — the real trendy stuff I lost interest in. As soon as it went out of style or the “popular kids” stopped wearing it, I was disinterested. The basics…now those are things I would wear year in and year out. Frankly I still have some shirts that I wore back in college. Now THAT is a good ROI and a low cost per wear.
How about you? Do you know the cost per wear of most of your clothes? What is the method to your madness to ensure you get the most from your clothing budget?
Paula Gregorowicz, owner of The Paula G. Company, offers life coaching for women who are ready to create their lives and businesses in a way that fits who they are rather than how they were told they “should”. Visit her website at www.thepaulagcompany.com and get the free 12 part eCourse “How to Be Comfortable in Your Own Skin” and start taking charge of your own success.
Photo Credit: Stock.xchng
I bought a wool peacoat last year for $225. It’s cold and wet enough to wear it here about 6 months out of the year, and I’m planning for it to last at least three years, which is a $0.41 per wear. I did that math for a coworker and she boggled that I really make these kind of decisions.
The pashmina I carry almost daily cost me $3.00 at Goodwill. I bought it 18 months ago, which means it’s cost me 16 cents a month.
Which makes up for the shirt I bought at the same time that cost me $50 and I wore all of 14 times. 😀
Paula, this is such good advice – and it’s totally how I shop. I’m in the market right now for a new laptop bag. I keep burning through bags about every 6 months, so I’m looking to buy a better quality bag so that I’m not spending $40 every season. It might be more money to get a good bag now, but over the course of several years, I think it will save me money.
Paula: The cost per wear method is definitely the best way to approach clothes purchases. I first learned about the formula from Joe Lupo, the gay shopping guru and it just makes sense. Call them basics or “classics” or whatever, but every wardrobe needs those pieces that are high quality and high use.
Serena: I’m also in the market for a new laptop bag. You might want to check out AcmeMade, Casauri, or MobileEdge.
Who spends $70 on jeans to wear it only for 5 times?!
i never have any idea how much i’ll wear something (because i have to wear it awhile before i know for sure if i like it or not), but when i do want to buy something, i figure out about how many hours i’d have to work to earn the money to buy it. it doesn’t always work, but it often helps to put things into perspective.