Investments & Loans

Jump to Comments

Everyone likes to tune in to the Academy Awards each year to see one thing. It isn’t who wins the OSCAR, it isn’t which movie wins best film of the year - it’s the dresses! The women want to see what the stars are wearing and the men want to see what the stars aren’t wearing. However, all the glitz and glamor of the Academy Awards can teach us a thing or two about saving money.

Fashion and Saving Money
The first thing you notice at the OSCARS is that everyone looks a million bucks. And, in many cases, the price tag would have been close to a million bucks. I have often sat and watched the red carpet and thought about what happens to the dress and the jewels after the event. Does it sit in a closet? Do they wear it again (not likely!)? Does it get sold and the proceeds go to charity? I’d love to know.

So, there are a few lessons we should learn from the Academy Awards that can save you a lot of money. None of them really have anything to do with Jessica Alba; I just thought you might like to look at a photo of her. Here are the main lessons:

1. Do you need the most expensive brand?

The next time you go shoe shopping and find a nice expensive pair of Armani crocodile skin heels stop and ask yourself two things:

Do I need this brand?
Do I need this product at all?

Nine times out of ten you will be able to find a similar product for a lot less money simply because it doen’t have the logo of an expensive designer on it.

2. How many times are you going to wear/use it?

This applies to anything, not just clothes. How many times are you going to use the item that you are thinking about buying? Will you need it a week from now and if not, is it worth buying the most expensive one?

Try and think of alternatives to the most expensive option or whether you even need it at all.

3. Can you sell it later?

The university student in me is coming out now. I am forever buying books that I can sell next semester and if I know that I won’t be able to sell it later due to a new edition coming out then I will find it in the library instead.

If you want to splurge and get a nice expensive item then find out whether you can sell it later and for how much. It is a useful option not many people think about.

Times when spending big can make a difference

However, there are times in your life when buying the expensive brand may be worth your while. Looking or feeling your best might be the difference between success and failure.

The best example for this is the big job interview - a nice suit and tie can make all the difference.

Conclusion

Spending money on clothes and other non-essential items is really about desire. If you can look at that desire at the moment of impulse and make a rational decision then you will probably save a lot of money in the long run.

(image from oscar.com)

Spread the word via StumbleUpon

Build Your Brand and Drive Traffic with Blog Advertising