Reality check - clothing costs

[susieredshoes]

I'm curious what you think is an appropriate amount of money, or percent of one's income, to spend on clothes. My plan is to spend about 3% of my pretax income on clothes, including shoes, hosiery (ugh), casual and business clothes

Comments

[unbleachedbrun]

Only 3%? Oh, dear. I try to limit myself to 10%....you don't think that's excessive, do you?

[susieredshoes]

I don't think it's excessive, actually. I also take two nice vacations a year, so the money goes only so far. Maybe if I'd eat ramen noodles every night but I enjoy food and wine way too much to cut back there!

[mulaohu]

Good question. I'm using a budget template that suggests 5% in after-tax dollars, but I have a feeling that author didn't consider markets like New York. :)

That being said, I'm going to try to adhere to that number.

[susieredshoes]

Is a template from a book or online?