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8/6/2013 12:51:25 AM
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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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  • You can spend way less on cuff links that will look just as good. When it comes to things like that, being smart and strategic is important. Show me a person who spent $5,000 on clothes, and I can find someone who dresses as good or better who spent only $500. However, it is your money and you are entitled to spend it how you wish.

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