Saturday, June 04, 2016

Being Stylish Comes With a Price

Trends and Fads - HOME

Fads come and go and are available in every industry. Automobile makers created cars that became fads such as the Telsa and Toyota Prius. The fitness industry with P90X; the clothing industry with skinny jeans. The health industry with the lemonade diet, Weight Watchers and the Atkins diet. Social media fads such as Facebook, Twitter, Pinterest, Snapchat, Vine and more. I was caught up in fads when I worked at my first job. I quickly realized that keeping up with fads was expensive and decided to change my spending habits.

Consumers spend more money on purchases than necessary. Consumers who buy fads usually do not manage their money wisely and are caught in the frenzy of buying fads to fill a void in their life. Many consumers go into debt buying fads when they know they really cannot afford it but do so to “fit it” hoping to look stylish. Fads go out of style very quickly and are a huge waste of money. Luckily, companies know this, make their money quickly and begin work to develop the next fad. Fads are high priced and in many cases are not worth the cost.

There are various others options to purchase the same fad item for less but most consumers do not take advantage of those options. Many consumers buy the latest fads, which may not consist of quality material, may shrink, fade or not last long. It is fine if you buy a few fads items but your closet or home should not consist of fads.

You can buy clothes, accessories and other items from thrift stores, consignment stores, outlets, or other discount stores such as Old Navy and dress better than someone who is wearing expensive fad clothing. If you must buy fad clothes, buy shirts or blouses that can be worn longer by adding accessories or a nice jacket. Buying fad jeans, coats, or shoes are the biggest waste of money. There are disadvantages to buying fads:

  1. Can cause you to go into debt
  2. Can cause impulse shopping - buying fads just because they are on sale
  3. High prices
  4. Constant change
  5. Poor quality
  6. No warranty or a less than favorable warranty

Buy in terms of quality instead of quantity. Quality purchases last much longer. Buy in terms of style, materials used to make the item, warranty and reputation of the company. Start tracking your spending to see how much you spend on fads in a month. You may be shocked at the amount. Reduce that amount by 30-50% and save the money in a savings account or use it to pay down debt.

Become an educated consumer. Learn how to comparison shop and how to determine the quality of an item before purchasing it. Read reviews on items that you are considering purchasing to see what others have to say about the item. Read fashion blogs or websites to get additional reviews. The next time you consider buying a fad ask yourself these questions:

  1. Why do you buy fads?
  2. Do wearing or owning fads provide any benefits?
  3. Do you feel better when you purchase fads? If so, examine why?
  4. Can you afford to buy fads?
  5. Can you buy fads for a cheaper price?
  6. What do you do with the fads that go out of style?
  7. What would you do with the money spent if you did not buy fads?

No comments: