Clothing is not optional. (Getty Images) Clothing is not optional, but spending a lot of money on it is, says author Gregory Karp in his book “Living Rich by Spending Smart.” Off the top of your head, how much would you say your family spends on clothing in a year? According to the U.
S. Consumer Expenditure Survey, a family of four spends an average of $1,434 a year on apparel plus services like dry cleaning, to keep that apparel looking good. Wow.
That’s $120 a month -- a major expense in any family’s budget. Karp offers seven easy ways to cut that expense without having to take fashion risks for yourself or sending the kids off to school looking odd and frumpy. DO NOTHING Of course this is my favorite of the seven tips.
Maybe that’s because I’m naturally lazy or, like many, have enough clothes to get by for months. Do with what you have by recognizing the difference between needs and wants. BUY USED Vintage, consignment and thrifts stores are growing by leaps and bounds, offering name-brand used clothes.
If you’re creeped out at the thought of buying secondhand, take a tour of a few stores. They’re not usually the dark, smelly, chaotic places you remember as a kid. Most these days are as lovely as regular retail stores.
And if you’re really uncomfortable buying used clothing, here’s a tip from Karp: Take baby steps by buying one time, maybe something inexpensive at a high-end consignment store. USE GARAGE SALES WISELY Garage sales can be a great source f.
