Most of my clients have internalized this concept, as I often bring it up when we’re out on our shopping excursions. Basically, it boils down to how much does the item cost, and how often will you wear it?
Let’s take an example of a $500 necklace. If you purchase it and only wear it twice, then the cost-per-wear is $250. That’s a mighty pricey necklace!
Using that same $500 necklace as an example, let’s say it turns into one of your daily basics, and the first year you own it you wear it 300 times. Then, the cost-per-wear on this necklace is now only $1.67. Are you following me?
Of course, there are many more factors that go into deciding whether or not to make a purchase, such as do you LOVE it, can you actually afford it, will it work seamlessly in your wardrobe, etc. But considering the cost-per-wear is crucial, unless you’ve got one of those bottomless wallets I often dream of.
The bottom line is the more you spend on something, then the more you should wear it so that the cost-per-wear goes down, making it a much wiser purchase than something you simply leave in your jewelry box or closet. Don’t save anything “for good,” as many of us were taught. Wear the diamonds, use the fancy towels, and eat off the “good” dishes every day. What are you waiting for? You deserve it. Not only will you enjoy it, but you’ll also be making an economical decision.