Picture this: Teenybopper from the Gossip Girl world grabs the plastic card, heads out with a clan of girlfriends, paints the mall all kinds of colors—first of them in red, maxes out the credit card, and welcomes the massive mountain of debt. It's not a pretty sight. However, it's an unfortunate stereotype.
There are ways to defy this stereotype. A true fashionista does not have to abuse her credit card limit just to keep up with fashion.
Here are a few ways a fashionista can be financially-savvy.
Image from Flickr
The First Rule of Shopping: Timing Matters
The sales won't last. Pieces will fly off the shelf, and although you've got the credit card, if you're smart, you'll hold off on swiping that piece of plastic in favor of saving your finances. Yes, you might lose the opportunity of hoarding stockings and accessories during a big, mall-wide sale.
However, the advantage here is you can be financially-savvy if you don’t swipe every card you have every time there’s a sale. Choose the specific time of the year for an all-out spending spree instead of breaking your bank account monthly.
Consider Financing
Sales disappear, and some of the good items vanish from the racks, and everyone knows that the plastic's too easy to use. So what do you do?
Manage your money by controlling what you have to pay when you pay it. This simply means that if you spot that excellent pair of shoes at Nordstrom, but you don't have it in your income to snag the item, file away the credit card and try taking out payday installment loans only if it’s really a fashion emergency.
It gives you one important power: The ability to receive your paycheck early. The reality is it's not about the money. You save your credit card and the trouble of paying out all that interest to cover the balance, and all you need to do is pay back your loan with the money you'll receive from your paycheck.
Managing the Budget Wisely
It takes some wisdom and understanding when you're handling your own finances, though. Swiping your plastic is tempting every time you see an adorable pair of shoes. However, having enough savings in your bank account is way more important for your future.
Knowing the balance between splurging and saving is important for a fashionista like you. Always remember that a true fashion icon is effortless and knows how to budget her finances well.
Have you ever taken a loan for a fashion emergency? Share us your experience in the comments box.




