In an era of extra cautious spending, it’s more important than ever to analyze the value of each item you purchase. So, what justifies an investment-worthy addition to your wardrobe? What you consider to be an investment varies depending on your individual finances, but the questions to ask yourself about a potential big buy are all virtually the same.  Read on to find out the best way to go about building your Fashion 401K.

1) Is it timeless?

Spending more on classic items that will last you for seasons to come is a fiscally responsible fashion move.  Basics may not be what you’re tempted to splurge on, but you’ll thank yourself later for pocketing some savings when it comes to fleeting trends.

2) Is it iconic?

If your potential investment isn’t a straightforward classic, ask yourself if it has the iconic look of an era, rather than a trend.  For example, Diane Von Furstenberg wrap dresses, quilted Chanel bags, and Hermès Birkin bags all have vintage value.  If you invest in these or similar items, keep them in top condition and resell them when you want to mix it up and re-invest in something new.  While you can’t always predict what items will hold their resale value, you can speculate based on a designer’s reputation and signs of the times. The Manolo Blahniks featured in the Sex and the City movie are probably a wise buy because they are both high end and connected to the pop culture of the early 21st century.

3) Is it top quality?

Unfortunately, a high price doesn’t necessarily guarantee high quality.  Check seams for lose stitching, jewels for solid prongs, and read the labels in search of high end materials (i.e. silk, cashmere, Italian leather, platinum, etc.).  Splurging should not allow for shaky quality. Handbags and jewelry make wise investments because they often take longer to show signs of wear.

4) Is it versatile?

Most people spend the most money on special occasion attire, but I recommend investing in items you’ll have the opportunity to wear each week.  As your cost per wear decreases, you’ll feel more confident you made the right decision on a given purchase.  An evening gown worn once for $550 has a steep cost per wear, whereas a pair of boots for $550 worn 2x per week all fall offers a more reasonable cost of $21 per wear – and if you select a timeless pair, this cost will be reduced dramatically over the years.  Last week we explored the versatility of a silk jersey blouse (with a $415 price tag) that can be dressed up or down with ease.

5) Is it you?

Does your potential purchase work well with your current wardrobe?  Experimenting with new styles is great, but try it in small, affordable doses before making any long-term investments.  If the item you’re considering doesn’t coordinate cohesively with the majority of your wardrobe, pass on the purchase.  Another irresistible item will be there next week for the pouncing!

*Stay Stylish*

Ally