A sale price does not = savings

You do not save money when you buy something on sale. Yup, I said it. And I will say it again… You do not save money when you buy something on sale!  I know that sounds contrary to what you have been conditioned to believe, but open your mind to what you are about to read.

Technically, the only way you can save money is by not spending money you already have. When you buy clothes on sale, no matter how much you pay or the method of payment which you use, you are spending money. If you pay cash or use your debit card, the money is leaving your pocket immediately. All you are doing is paying less than the price that was on the tag before the price was marked down. What about if you pay for your great big haul of clothes using a credit card? Even if every item you bought was on sale, realize that you did not save anything. Actually, if you don’t pay off that credit card bill before the end of the grace period, by the time you pay the credit card interest on that purchase you may end up spending much more than the original price!

Of course, most people need to have a clothing budget, so they may think that buying items on sale is a great way to get as many pieces as they can with the money they have. However, when buying clothing to create your best wardrobe, your main concern should not be having as many outfits as possible, or even how much you spent when you bought an item. Your concerns should be more about purchasing the right items, and how much you INVESTED on an item.

Although this sounds like a lesson taken from an Introduction to Finance class, stick with me until the next time when I discuss in detail, the concept of investing in your clothing.

Gillian J.