Fabulous Financials

A fabulous reader asked me several interesting questions and I wanted to share my answer with everyone:

I have a question for you about your wardrobe. Will it be necessary for you [to] purchase a new career wardrobe as a result of the weight loss?

Absolutely! I haven’t purchased anything (yet) but I need to go shopping because my weight loss is becoming noticeable and my once perfectly tailored suits are no longer hugging my frame.

If so, how do you budget for this type of expense?

I won’t budget for the expense.  If/when I decide to buy anything, I will use the excess cash flow from a regular paycheck.  I’m still losing and plan to drop at least 2 more sizes, so anything I buy right now will be of lower quality to supplement what I already own.

If you need to budget for an interim wardrobe, you may want to start by saving $10+ per week as soon as you begin your weight loss journey.  The total amount you’ll need to save depends on many personal variables, but I think a minimum of $10 is sufficient.  Let’s say it takes you 12 weeks to lost 20 lbs.  By the time you need a new wardrobe at the end of 12 weeks, you will have saved at least $120.  This is enough to buy a few basic staples (black or brown slacks, a few tops, bra, panties, etc.) from a big box discount store.

Also, do you have any tips or suggestions for purchasing a solid career wardrobe (good quality, but not “over the top” expensive).

This depends on where you work and the dress code, but my formula is simple:

Foundation: buy staple pieces (suits, blazers, dresses, skirts, slacks, etc.) in fabrics that transcend seasons, solid colors, and basic cuts/styles that can be mixed and matched.

Style: add your personality and various color and fabrics with your accessories (cardigans, tops, camis, jewelry, scarves, shoes, handbags, makeup, hair, etc.).

Price Point: splurge on your foundation, go frugal on your accessories.

How to Shop: buy one foundation piece at a time, stack coupons, view the sales/clearance wracks first, or shop at big box discount stores – e.g. TJ Maxx, Marshall’s, Ross, Target, etc.

Most Important Tip: regardless of what you buy, where you buy it, or how much you spend, THE most important key to a career wardrobe is a good fit.  A $500 suit from Nordstrom will look cheap and unprofessional if it has an ill fit (too big, tight, short, long, etc.).  A $20 pencil skirt from Target will look fabulous if it fits your hips and waste with a hem line that falls no more than a 1/2 inch below your knee.  Get your measurements, understand & accept that your size may vary from store to store, and find a good tailor.

I’ve also written several blogs about this topic: Professional Wardrobe on a Budget and The Professional Woman.  You may also find similar blog posts by searching the word “wardrobe” in the right hand sidebar.

Congratulations on your weight loss!

Thank you very much!

If you have any other tips or suggestions about shopping for clothes after weight loss or building a career wardrobe, please leave them in the comments.

an 8GB iPod and a 7MP digital camera

- or -

a cell phone that can store up to 4GB in music/videos with a built in 5MP digital camera

[assuming no unique expertise, hobbies, etc.]

Received the following email today:

Hi Singlema,

I need help finding a reasonable moving company to move our belongings from Maryland to North Carolina.

My research has been frustrating and I do not want to fall prey to scam artists. So would you and your fabulous readers recommend companies so that I can shop around.

Thanks!

All of my professional moves were arrange and funded by an employer so I’ve never paid attention to the cost. All other moves were courtesy of “Pookie n ‘em” for the low, low price of a six pack and some wings from the corner store. LOL So my experience with pricing professional movers is limited non-existent. Sorry I couldn’t provide any useful information. But let’s see if my fabulous readers have suggestions.

Can anyone recommend a good professional moving company?

Last week was crazy busy for me so I don’t have any posts prepared. But what better topic to discuss than our holiday budgets!

As mentioned last week, my holiday shopping budget is $500.
So far, I’ve spent $357.

Other than BabyGirl, I’m finished with my Christmas shopping.  I have 2 more things I need to buy for her, but they’re fairly inexpensive so I’ll be ok.  I know exactly where I can find them.  Even have them saved under my favorites.  Just waiting for a sale, promo code for an extra discount and free shipping before pulling the trigger.  Yaaaaaaaaaaay for Cyber Monday!! What about you?

How much is your holiday budget?

How much have you spent so far?

Looking for anything this Cyber Monday?

I received the following email (edited) this week:

Hi my name is ___ and I’m also a single parent of three. I work full time and still live check to check. I’m hoping you can help me. The holidays are coming up and I don’t have enough money to be able to give my kids a good Christmas. Honestly by the looks of things I won’t be able to give them anything this year. I have rent, bills and day care and not able to buy them any gifts. My kids [are] great and deserve more I just don’t know what to do or where to go for help. Can you help me and give me any ideas on what I can do for my babies?

The reader and I have exchanged emails but I don’t think she liked my answer.  Do you all have any suggestions for her?