Do you spend more money on clothes a month than anything else? After all, who needs to eat every night if they can look really good in a new pair of high heels instead?
Our love of shopping is great, but have you ever actually stopped to work out what percentage of your wage you're spending on new clothes?
According to financial expert Pete Dunn, there's a sweet spot which should keep your wardrobe well-oiled and your purse heavy, and it's all in the number 5.
In order to reach a state of shopping equilibrium, Dunn and other financial planners suggest that you should stick to only spending out about 5% of your take home salary per month.
So, if you earn £25k a year, you can spend £1250 annually on clothes. Or, if your take-home monthly salary is £1,600, that's £80 you can spare for the new in at Zara section.
This might sound like a lot but shopping can quickly add up so it's probably a good idea that someone who's job it is to be good with money has come along and given us an exact figure to work with.
Of course, you don't have to spend anywhere near that amount if you don't want to - but it's good to know you can if the impulse hits, isn't it?
Jess Edwards is Cosmopolitan UK’s Deputy Editor, working to deliver the very best experiences across the brand's platforms (print, social, video, digital), products and events, including a focus on our membership offering, Club Cosmo. Jess has worked in the media industry for almost 20 years and at Cosmopolitan for over 10 years, joining the brand as Fashion Editor and later going on to lead the digital team as Site Editor. With her background in lifestyle journalism, it is no surprise that you’re most likely to find her in the Fashion section and exploring the very best in hospitality via our Travel pages.
