This is a link to the eleventh in an ongoing series billed as 30 Day Challenge to save $1,000 by Ramit Sethi at IWillTeachYouToBeRich.com, his blog on personal finance (banking, saving, budgeting, and investing) and personal entrepreneurship. His series outlines the various ways we can keep money in our pockets.
How much do you spend per year on clothes?
Ramit discusses several options for saving on your annual clothes costs, including having custom clothes made cheaply; shopping at retail stores, especially discount retail stores; buying abroad if you are there anyway, in countries where the things are cheaper; and buying online, including through eBay. I’ll add another — thrift stores. They vary in the quality of what they tend to sell, and in whether or when they have sales (yes, thrift stores have sales). It’s not only individuals donating clothes they are tired of (and these can be high ticket items if you live in places that have wealthier people who would be donating), some retail stores pass on their new, unsold inventory to the thrifts stores.
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For previous tips: Tip #1: Pack lunches for the rest of the week, Tip #2: Turn your thermostat down 3 degrees, Tip #3: Sell something on eBay today, Tip #4: Involve your friends in your savings challenge, Tip #5: Optimize your cellphone bill, Tip #6: Use gas prices to become your own hedge fund, Tip #7: Create a “No Spending” day once a week, Tip #8: Implement the A La Carte Method, Tip #9: Only buy new things when replacing something old, Tip #10: Use the free rewards from your credit card, car insurance, and workplace