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8/6/2013 12:51:25 AM
37
How much should you spend on clothes?
It's a pretty simple question, but the answer varies for everyone. I told myself once I started making a legitimate income, I'd put 10% away for luxuries.
I have a lot of money saved up (in the thousands) already, and I frequently eye the pricy articles on the Saks 5th Avenue website. I recently found a pair of Montblanc gold-plated cuff links for about $360 ($515 at retail). Should I?
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Depends. Typically about 5-10% of your income is average for a clothing expense. That said, some items, suits, cufflinks, dress shoes and any work related uniforms, can skew that number.
