I’m a finance expert and this is the one thing I am spending more money on amid the cost of living crisis – and you should too
- Queenie Tan says it’s important to spend more on clothes
- She says cost per wear is lower if you buy quality
A money expert has revealed why you should be spending more on clothing as the cost of living crisis intensifies instead of switching trusted brands for cheap options.
Queenie Tan told her followers when it comes to clothing they should be looking at ‘price per wear’ instead of the overall price.
In a video she explained a good quality jacket might seem unaffordable at $200, but if worn 100 times it suddenly feels like a bargain.
‘Cost per wear changed my WHOLE mindset when it came to shopping,’ the young investor admitted.
Finance pro, Queenie Tan, (pictured) 26, has shared her seven sources of income from shares to brand collaborations and even paid event appearances
The ‘more affordable’ jacket might only be $50 but if you don’t love it as much and it sits in the cupboard the cost per wear would be much higher.
She used an example of using the cheap jacket just five times – making it five times more expensive than the $200 coat per wear.
‘It just show you that sometimes spending more money on a quality item you just love and you wear again and again and again can actually save you money,’ she said.
She added: ‘Cost per wear is actually backed up my science and economics it’s really interesting stuff.’
And people were thrilled with the easy explanation in the video.
‘I used to only buy cheap clothes and I had way too much shit and never knew what to wear. Now I have about 50 quality pieces in my wardrobe and it’s not such a chore and I never feel like I have to buy anything new because I love my clothes,’ one woman said.
‘You also tend to take better care of your shit when you spend $100 vs $20 on something which in turn makes it let even longer. Nothing wrong with not wanting to wear expensive clothes but don’t act like they’re as good as quality made clothing.’
Others added their own insights.
‘It’s even better when you get it on sale too. I have a 90/10 – wool/x peacoat from 2012 from Zara that I still wear every winter and still looks good today.
She says it is important to invest in clothes – buying something you love for $200 can often be cheaper in the long run than buying something which ‘will do’ for $50 and rarely wearing it
This idea also works extremely well with new and relatively young brands that focus on quality but hasn’t gain the mainstream traction or recognition yet.
One admitted they always seem to buy the cheaper thing even though they know it won’t last as long or be worn as often.
The concept only works for people who are happy to be ‘outfit’ repeaters, she noted.
But others were less than impressed.
‘Congratulations on discovering the basics of buying things,’ one man said.
‘If I buy the $2 shorts and wear them 50 times they are basically free,’ one man said.
‘I would buy the $50 jacket and wear it more than five times,’ said another.
‘Who is buying things just to wear them once. If I buy something I wear it out,’ added a third.
The video has been liked more than 700k times.