How to make a budget for clothes?
Clothes are a basic need and it is part of the expenses that a family must do, along with food, transportation and other expenses at the house. The amount of money to be spent on clothes is determined by several factors, such as the number of members within a family, the personal like and other ones, but today we will show you how to make a right budget for these expenses.
“It is very necessary to have a good control of the expenses done at home, it is with a good control of the money that the whole family can have stability and comfort by knowing they handle their finances in the right way”, advised Salomon Juan Marcos Villarreal, president of Grupo Denim, about this topic.
Here are some useful advices so you can make a budget for clothes:
- Evaluate the monthly budget that must include all expenses done at home, but exclude the budget for clothes, if you want to calculate how much money you can expense on clothing, you will first need to cover the most basic needs, that will give you a better idea of the amount you have to go on shopping.
- Calculate how much money you spend on clothes each year, divide that cost during the 12 months of the year to know your budget.
- Always check on your closet before you buy new clothes, remember that making a responsible budget means that you will only spend what is really necessary, if you do not need new clothes, and assign that budget for savings.
“Having a budget with all expenses included will allow you and your family to have the extra money needed to achieve other goals that all of you might have, and for that, it is necessary to identify any unnecessary expenses and get rid of them so you can save more money for incidentals or vacations”, added Salomon Juan Marcos Villarreal.