Archive

Clothing

I have been coveting a Banana Republic bag for quite some time. This one;

Capture

I even made it a part of my goals for 2015 in my 30 goals for 2015 post, look:
2Every so often I get a new purse because an old one has worn out, or the functions that I need it for change. The current purse I use for a bit dressier occasions when I still need to carry a few things around is starting to show signs of wear, so I’ve been looking to replace it.

There are a few purses I have considered, between MK, Kate Spade and BR. In hindsight this was complete idiocy…. I have a line of credit/mortgage to pay off, I have retirement to save for, I need a newer car in a couple of years. A new pricy as hell purse? Even after a discount any of them run me over $200. Who am I kidding?

In 2012 I used up 75% of the emergency fund I had saved at that time to cover living expenses as my income plummeted in early 2013, it started increasing again when I picked up seasonal employment last year. Ive only been contributing a measly $25 a month October 2013 and onward.

I bought a nice Ck bag in August of 2013 and while I haven’t regretted buying it at all, until now, the mid $200’s price tag set me back about a months worth of groceries and in reality…. even though I saved for it; could I really afford it? No. The purse cost me about 1% of my income that year. 

Capture3

Was it worth it? No. I like fashion, I do enjoy looking nice, dressing nice. Banana Republic, Ck, Kate Spade, Ralph Lauren… I am a sucker for the preppy new England look. I don’t quite dress like it, but I do own a khaki coloured trench coat, and I wear my jeans with a leather belt, and flats, and yes I like fancy purses and preppy dressshirts and a-line skirts. I find it appealing. But am I really wearing these items for me, or am I also wearing these items to present an image to the world? Most likely the latter.

While I liked that purse, it’s highly unlikely anyone other than my friends and family really noticed me using it. I didn’t end up liking the quality and the handle has had to be sewn on once already. Don’t get me wrong, there isn’t anything wrong with finetuning your image for yourself and the world. After all, it’s important for your work and social life, but was this expense warranted for me personally? Did I need more stuff in my closet while I am looking to have less stuff? Was it really worth it? Not at all. I don’t want to be poor, this is not the way to not be poor.

My 2015 income should end up being about $30,000 after tax (which reminds me that I’m currently four days late filing my tax return, crap). I projected my income at $27,500 in January so I’ve been able to increase that which is awesome! 🙂 My income is earned in a variety of ways, I’ve had more than one job on the go since I graduated college;

– My normal part-time cleaning gig which consists of two different contracts (I am the main contractor)
– My seasonal luxury cottage scrubbing (self-employed)
– Commission based property rentals
– becoming an accidental landlord on my own house
– occasional random side jobs

The $2,500 increase is not much but it’s something. $30,000 is not terribly low. I can and do, do a lot with my $30,000. 

But I have $4,725.64 saved for retirement right now. Under five thousand dollars. That is just… I mean that will get me what, a quarter of a year of living in the future? Maybe after compounding the interest I’ll get a year worth of living out of it in a good 30 years orso. Maybe more, maybe less, I have no idea because it’s not worth it to do the math because the point is: that is ridiculous. 

I have house debt to pay off asap and if I ever want to retire, a retirement to save for. I don’t want to be poor.

I had no business buying a $240 purse in 2013, and I still don’t in 2015.

What ridiculous purchases have you made that were really kind of stupid??

I’ve been wanting to get a new coat for quite some time, since I have been wearing the same winter jacket since I was 18! That’s 7 years of wear out of one coat. I have had some other coats in the mean time too… but they were like bad boyfriends, pretty lame.

Years ago, after a year or two with my trusted winter jacket I thought it was time for a new one and I invested in a cheaper 3-1 jacket, the inner layer being fleece. I know myself well and I should have known that I would never wear it. I know it’s a great fabric for keeping you dry and warm but I just can’t stand it on my skin. Since that didn’t work out I was disillusioned enough to keep looking rather than just sticking with my old winter jacket.

There was the beautiful red down filled disaster that didn’t come out of the wash with terrible fabric that ran like panty hose and soon after one long wool dress coat that stank from day 1 and had to eventually be disposed of. After that I smartened up and stuck with the old jacket another three years. Then last year I found what I’ve been looking for for quite some time; a beautiful Guess pea coat with hood that I picked up at Winners for $125.00. It’s a great coat for fall weather and nice occasions but not a coat that will withstand snow shovelling in Canadian winters. I do expect it to last another several years so that takes care of the looking-good side of things. But then there is the practical side. Living on the East Coast of Canada means cold wind and snow, regular snow shovelling and of course also some fun stuff like sledding and skiing.

So, since my old jacket is really beginning to look ratty and I no longer want to wear it out in public I’ve been looking for a new coat.Yup, again! This time I hope to make a purchase like my old coat; a good quality coat that will last for years to come. I had already started looking for a new coat this spring in the sales, but because life is hectic and my budget was tight, especially after the wisdom teeth disaster, I never got around to actually buying a new coat. I’d been mentioning to my boyfriend that I would love a new coat so one day we walked into a store, he walked straight towards a rack, pulled out a jacket and said. “Try this one, this is a nice, good coat.”

My new coat! (That's not me!)

A $260.00 Helly Hansen. Yea, wow. $260.00? I’ve never spent that much on a coat before! Since I am trying to make better financial decisions I didn’t buy the coat even though I loved it, I went home and for the past two weeks have been mulling it over. I’ve looked up every other brand of winter sports coats that I can think of and I keep going back to the first winter coat I laid eyes on this season. Funny how that works!

In the meantime I have come to terms with the fact that I will be spending a good chunk of money on my new coat and you know what… it’s okay! My old coat wasn’t cheap either and that baby lasted me seven winters. The Helly that I will be buying is a good quality jacket in a dark colour, it should last me several years which makes up for the cost. It is warm with great features to keep the snow out, detachable hood, well fitted, water proof yet breathable and adjustable cuffs… did I mention it fits me PERFECT?

$260.00 Full-price.

*gulp*

I guess it will be worth it when you look a my previous disasters. I checked out the store again today though (couldn’t help myself) and put the coat on hold until tomorrow when I can head out to buy it, turns out that in the two weeks I’ve been ‘thinking about it’ the price dropped for a sale they are holding this weekend. The coat is now $191.03 including tax and I will receive a $10.00 gift card when I buy it! How’s that saying go… ? Good things come to those who wait. Waiting and making a better informed decision just saved me $75 bucks!

I really believe that quality is more important than price, I rarely shop at thrift shops because thrift shops aren’t that good around here and I can often get things new for similar prices by just waiting out the sales. When it comes to certain things though I do splurge, good shoes for example are important to me, I do not invest in $30 sneakers from Wal-mart and instead drop $100+ for a pair of Merrell’s. So far this is working out well for me long term, while I may spend a pretty penny starting out my experience has been that for some things it really is worth it! I’ve just realized that perhaps for me, winter jackets are also worth the splurge. Are there any things that you splurge on like this?
Do you agree or do you think I’m crazy? Love to hear from you below! =)