As Snoop Dogg might say, “my mind on my money and my money on my mind.” Money is often on our minds. The reason and the result are often the same — the desire to have more stuff. When you want more stuff you need more money and when you have more stuff, you want newer stuff.
One fix to this to move towards minimalism. It doesn’t have to be a fast change. You can make changes slowly. Kara Stevens wrote an article for Ebony where she highlights three ways you can save money as you move towards minimalism. How Being a Minimalist Will Save You Big Time.
My favorite is her “Cost per wear calculator.” This is her bang for the buck calculator for clothing. Figure out how many times you plan to wear an item. Divide the cost of the item by that number and you’ll have your cost per wear. This is a great metric, especially when you are thinking you might need a new outfit for a special event. If that outfit is only used once, it’s a huge waste of money.
Kara’s other two tips are “Wear and repair” (fix items instead of buying new) and “free is a four letter word” (don’t take something just because it’s free.)