building a professional wardrobe

As a young professional trying to climb the ranks in your industry, you have to present a successful image and pay attention to the finer details. Like it or not, what you wear says a lot about you. You need a wardrobe that’s professional, flattering, and appropriate. Building such a wardrobe on a budget is challenging, yet possible.

Try These 7 Tips

You aren’t going to wake up one morning and magically have a collection of designer clothing hanging in your closet. Developing a professional wardrobe on a budget requires a strategy. The following suggestions will come in handy:

Develop a Budget

You should never walk into a store or browse your favorite online retailer without first having an idea of how much money you have to spend. A concrete budget that puts a hard cap on your clothing expenditures will help you make smart choices.

Financial planner Pete Dunn suggests using 5 percent of your monthly take-home pay as a guideline. While you’re certainly welcome to spend less, this is the absolute maximum you should ever spend. If you take home $3,000 per month, this means $150 is your limit.

Grow Your Wardrobe Over Time

When you create a monthly budget, you’ll realize that you can’t build an entire wardrobe in a month. It takes time and you have to be patient.

One of the benefits of having a budget is that it forces you to wait on purchases that you would have otherwise made immediately. The process of waiting gives you a chance to carefully consider whether you actually want it (or if it was just an impulse desire).

Invest in Versatile Pieces

When you’re on a budget, you don’t have the money to buy one-off pieces….