This is how much you should be spending on new clothes per year

If you're anything like us, a huge chunk of your hard earned cash goes towards filling you wardrobe with clothes you probably (definitely) don't need. 

You might be living off beans on toast for the last week of the month, but hey, at least you've got a killer collection of designer heels, right?

Well, staying on top of the latest trends is nice, but have you ever stopped to think about what percentage of your wages is actually spent on clothing and accessories? 

According to Cosmopolitan, financial expert Peter Dunn reckons he's found the magic formula that allows you to strike the balance between stylish trendsetter and fully fledged adult. 

And it's all in the number five, apparently. 

He recommends that you should only spend about 5 per cent of your take home salary every month – which, when you break it down, isn't an awful lot. 

For example, if your €25k a year, your shopping budget is capped at €1250 annually which equates to roughly €100 per month.

Now, on first thought that doesn't seem so bad, but it only takes one flash ASOS sale to spoil your finances for the month. 

Our advice? Save the splurging for special events and experiment with new ways to style the clothes you already have.  

Trending
Well hello there!
Help us help you by allowing us and our partners to remember your device in cookies to serve you personalized content and ads.

We're on a mission to help our mums and their families thrive by informing, connecting and entertaining.

Join us in our mission by consenting to the use of cookies and IP address recognition by us and our partners to serve you content (including ads) best suited to your interests, both here and around the web.

We promise never to share any other information that may be deemed personal unless you explicitly tell us it's ok.

If you want more info, see our privacy policy.