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Tag Archives: Finances
Okay, this is definitely not a post that I should be writing considering my own shopping craziness.
It should really be someone way more frugal who only owns 20 items in her closet and only one pair of earrings or something.
Nevertheless, I read a lot of fashion and style blogs, and every time I hear them list their purchases of 4 or 5 pairs of designer shoes in a row (Louboutins, Manolo Blahniks, Jimmy Choos all at around $600 a pop), I think — HOW IN THE HOLY…!?
I totally understand that their money can come from these arenas:
- Advertising & Blogging — Obviously fashion/style blogging pays more than PF blogging especially since you get better sponsors and you can get a lot more readers posting about yourself and your outfits
- Free Swag — Not sure if designers give out free swag, but places like J. Crew, Modcloth, etc probably do
- Side Businesses — “Free” advertising through their blogs, while working a 9-5
- REALLY good jobs — 6-figures a year, I’m assuming
- Family/Spousal money — Possibly?
Even so. I am not entirely sure that it’s 100% funded by retailers.
GUESSING AT THE NUMBERS
I wish they’d post their personal finances.
I know they’re probably saving away a solid 10% of their net income each month, maxed out retirement funds, bla bla bla… but I’m just one big fat nosy parker and I’d like to see the numbers.
I’m just thinking that if they buy 5 pairs of designer shoes a month, at $500 each, that’s about $2500/month, and for a full year, that’s $30,000 net a year, which is roughly (mentally) translates into about $50,000 gross income.
That’s an EXCELLENT gross salary for an individual, who would still have to pay for rent, groceries, transportation, etc.
For the other style bloggers who are not professionals (blogger or otherwise) and earn less money, I wonder how they afford such a wardrobe on their salary.
It’s seems like they get new stuff each week.. and even I don’t do that.
(Mostly because I’ve been working 10+ hour days in a compressed workweek lately and haven’t had time to be tempted..)
FRANKLY, IT MAKES ME WANT TO SPEND
It does make me want to buy things, and I should probably unsubscribe to all of their blogs just for that reason, but like a moth to a flame….
I think that influence, is partly the reason why I spend more than I should, if I wasn’t being tempted.
See, I am well aware that what I spend, is unrealistic even for me.
Sometimes I look at my numbers and think: WTF HAVE I BEEN DOING?
I know it’s partly that I don’t own a car, a house, or eat out a lot that I channel that otherwise budgeted money towards my Wardrobe instead, but I realistically can’t keep up on $2000 of Wardrobe spending a month.
(And if I do, you should SLAP ME SILLY.)
….but even with that spending, I recognize am very lucky to be earning a more-than-amazing salary, still aiming to save 50% of my net income and hoping to have a $250,000 at the end of this year.
That $2000 I spend on occasion, is not my entire variable budget each month. I am not giving up basic things like Food and Shelter, to buy clothes.
But I wonder if they are.
(Also, $500 is NOT reasonable for a pair of shoes. The only designer items I will buy, are consignment ones.)
What do you think about all of this? Are you nosy like me?
Fantastic post over at NPR about where Americans spend their money.
They took all the data and created these two crystal clear graphs:
WHAT AMERICANS SPEND THEIR MONEY ON (2011)
- Shelter is the biggest at 31.5%
- Women’s clothes are double the spending of Men’s clothes
AMERICAN SPENDING FROM 1949 to 2011
- Food has shrunk in terms of cost because of advances in agriculture — I am still not sold on it being a good thing to have so much food for such cheap prices, as today’s milk doesn’t taste like real milk to me, and only heirloom tomatoes taste like real tomatoes
- Apparel has also gone down in cost because of dirt cheap labour being outsourced overseas — also not sold on this being a good thing
- Housing has jumped quite a bit, taking up a lot more income but houses have also doubled in size from 1000 square feet to 2000 square feet or more (McMansions anyone?)