As I shared with you before, in this economy turmoil, We’ve all been faced with the dilemma of finding the right clothing to add to our wardrobe as well as justification to spend the amount of cash, more so for these days, fashionable items can cost a pretty penny. So, the great way is to adopt the mathematic calculation that I shared with you previously, cost per wear (CPW). To figure out how to save money with the CPW formula, simply divide the original cost of the item by the estimated number of times you will wear that item. When you look at it this way, you’re looking at a way to save money with the CPW formula.
Let’s take a pair of pricey men’s jeans for example: High-end jeans have become pretty commonplace and are now a necessary item to have in your closet. For the average man, a $150 pair of jeans will probably yield 40 wears over the course of a year. We’d apply the CPW formula by taking the price divided by the number of wears — in this case it’s $150/50. Suddenly, the $200 pair of jeans that you’ve been eyeing becomes a sensible purchase once you apply the CPW formula and realize you’re essentially paying $3 per wear.
Keep in mind, an acceptable cost per wear will vary from person to person. A few factors should go into determining a CPW that is right for you. Start by calculating your annual clothing budget and the number of garments you are likely to buy over the course of a year. Try to cover the following categories:
So keep in mind that this article is not trying to ask you to spend more. Rather, more about spending wisely. Make your dollars make sense and use the CPW formula to save money and set your mind at ease the next time you’re face-to-face with a hefty price point.