How to be a Recessionista

Recession is the current reality for many of us. With the rising cost of food, basic utilities, fuel and mortgage as well as uncertainties in the employment market, no one is unaffected. As I stared at the photos of the incredible creations at the Fashion in week in wonder, I can't kept but think how many of us could actually afford to spend our hard earned money on these clothes.

I'm very fortunate to never truly struggle nor deal with poverty and hunger that the previous generations had. My aunts often talked about how difficult life was during and after the second World War.  I think the current economic climate is a lesson for us to be more frugal, save and invest in our future. Here are my thoughts on being a Recessionista but please feel free to chime in and give your suggestions.

Reduce consumption

Do we really need 6 pairs of black shoes, 50 dresses, 50 tops? How many do you actually wear? Do you ever wonder what hidden treasures are lodged inside your drawers? Ooooh....The Chloe tunic..thought a seagull snitched it from the lines 4 years ago. What about standing in front of your burgeoning wardrobe and realize you have nothing, I mean absolutely nothing to wear?


Buy quality over quantity

I'm not the best shopper. I dislike replacing things. A well made pair of shoes will last for years and years. They just need to be resoled and a good polish once a year. Ditto for clothes and accessories. Buy things that last.


Quality doesn't mean expensive

I love bargain hunting. I think most of us do. That's why I've been getting plenty of comments and emails regarding where to get the best bargains. Check out consignment and thrift shops in the more exclusive suburbs. Put your name down for special sales events. Ask, no beg to be called if a certain holy grail you're after comes in. eBay is also another source for bargain hunters. I've picked up brand new Tod's moccasins for £35 (brand new £180), Repetto flats for £40 (brand new £175), near new Chanel jacket for £110 (brand new approximately £2K), Hermes Massai bag in good condition for £135 (brand new approx £2K) are a few of my scores. One woman's junk is another woman's treasure.


Sales are great as long as you stick to your game plan

I very rarely pay retail but I will make an exception for items that I know that I'll get tons of wear out of them and chances are they will not hang around on the racks for long. The trouble with sales is that clever marketing and hefty discounts entice us to buy things we don't need.

However, sales are fab if you managed to nab something that you've wanted for ages and stalked it for the entire season. Oh, and make a list of what you truly need and stick to it.



Recycle

I live with two hoarders. In fact, I grew up with hoarders (mom and dad, if you're reading this, chuck that awful portrait of a 19th century English dude. We don't have a single drop of English blood in our family). Sorry for going off on a tangent. If you haven't used something in 6 months, chances are you will never use it. If it's fairly valuable, sell it yourself or drop it off at a local consignment store. Why dip into your savings or salary? Let your old clothes (or bags and accessories) pay for your new ones.