As an entrepreneur, I read a lot of economic reports. It’s fairly clear that experts agree that the recession is far from over. In fact, Morgan Stanley predicted a fairly grim year ahead.
Therefore, fashion enthusiasts have to continue to be proactive with their spending habits.
Here are a few tips on how to save during the economic downturn.
Shop for recycled and vintage clothing.
Recycled clothing stores can save you a lot. Not only will you find chic quality dresses for $10 to $15 or designer bags for less than $100, you will be engaging in environmentally friendly practices.
The search for vintage items is not new. Indeed, customers and designers always have looked to the past for inspiration.
You can find some exquisite couture-like clothes at astonishingly low prices at stores, estate sales, flea markets and even your great-aunt’s attic. I personally like to mix a glamorous, couture-like piece with something casual and simple for an effortless look.
Sell at recycled clothes stores or online.
A nice way to make some money is to sell clothes. This ensures that your wardrobe stays cost-effective. You probably have items that no longer fit or that you’ve worn only once. If you have a busy lifestyle, sell them at recycle stores, such as Crossroads Trading Co. If you have time and are tech savvy, sell them on eBay, etsy.com or ASOS market place.
Only keep the clothes that you absolutely love. Also, make sure they flatter your body.
Sewing can save you money in numerous ways. First, you can always recycle fabric in your wardrobe or find bargain material. There are a lot of free patterns available. Also, it can be very rewarding. For example, if you have difficulty finding clothes that fit, you can custom make the designs. You can let your creativity go and sew interesting clothes.
Last weekend, while exploring the stores and boutiques of the windy city, Chicago, I accidentally came across a gem — The Chicago Fabric Sales Company, which was established in 1929 at the height of the Great Depression. Whoever opened that store was very smart and used tough economic conditions as an opportunity. People were sewing more then and the demand for fabrics went up.
Anyway, to my surprise, the store had a variety of exquisite products, including hand-painted fabrics made from 100% fine silk and… Italian leather!
The latter came in various colors with prices starting at $7.99 per square foot. My imagination ran wild when I saw the pile of beautiful leather pieces. Should I sew an iPad case? Minimalist belt with geometric buckle? Or a trendy, oversized leather top like the one recently worn on the catwalks of Celine, Dior and Yves Saint Laurent? A top made of genuine leather is so chic. Yet, it costs about $1,000. Clearly, sewing will save a significant amount of money.
Please share how you’ve been saving money.