How Much Is Too Much To Spend On Beauty and Fashion?

Ed note: A nail polish here, a cute clutch there, making lots of small purchases on beauty supplies or clothes and accessories can really add up over time. It might be time to take stock of that spending and learn how to keep it in check. 

Does it seem like no matter how much you spend on beauty and fashion you can never spend enough? You’re never up on the latest trends, or you feel like others always seem to be shopping? Chances are, when it comes to beauty and fashion, we all suffer from the feeling that we never quite have what we want.

As reported in NerdWallet, the average person carries $7,087 in consumer debt based on last year’s Federal Reserve statistics. That’s just shopping debt – it doesn’t include things like medical bills, student loans or emergencies (like covering basic living expenses following job loss). So how do you know if you’ve spent too much on beauty and fashion?

Here are three ways to tell:

• Are you in any sort of credit card debt related to shopping?
• Even if you’re not in “shopping debt,” do you find that you’re not tackling other forms of long-term debt (like student loans) because you have a high credit card balance to pay off each month?
• Do you have an emergency fund containing enough to cover three to six months of expenses?

Truthfully, there is no golden measure to determine whether you’re spending too much on beauty or fashion, but you absolutely have to be honest about your budget to decide what’s right for you. If you’re slowly getting stuck in a quicksand-like cycle of debt, or you’re procrastinating on your retirement savings, you will find that even the perfect lip gloss will not add value to your bottom line in a few months, much less in your golden years of retirement.

Small purchases have big impact over time, so it’s important to choose wisely when it comes to spending money! Trust your gut. If you look at your closet and it’s full of stuff you hate no matter what you buy, or if every nook and cranny of your space is crammed with clothes and unused beauty supplies, it’s time for a reality check.

So, how can you get your spending in check? Here are some tips:

First, avoid your triggers! To cut back on your spending, avoid stimuli. If you know you’re triggered to shop whenever you scroll through your Instagram feed, or a friend regularly invites you to partake in shopping haul, take a hiatus from these dangerous behaviors to reassess your relationship with spending.

Second, track what you spend. Using a budgeting site or app, you can easily set up a budget and import any credit card transactions that are easily categorized into whatever spending buckets you’ve set up in major categories.

Finally, de-clutter to start fresh. You’d be surprised at the amount of mental clutter that can accumulate when you have too much stuff. The more disorganized you are, the greater the chance that you’re buying duplicates. In the spirit of starting fresh, clear out anything you haven’t used, removing clutter to make room in your life for positive changes. Set up a debt repayment plan or establish a budget when your head is clear so you can turn a new leaf. If it helps, make a list of “DO NOT BUY” items, ensuring that you avoid impulse purchases of those common indulgences you collect at home, be it eye shadow palettes, hair ties or lip-glosses.

By making these conscious adjustments to curb your spending, you’ll see the results accumulate in your bank account.