Fashion Myths Consume $$!

You’re a smart, independent fashionista, right? Then look beyond some of the myths that fashion industry “experts” are feeding us. The fashion industry is a business like any other. It focuses on profit, and markets to you in order to drive sales. It’s the highly profitable, expensive clothing lines and the “here today, gone tomorrow” style trends that bring in the big money. Profit-making is the true motive behind the propagation of a fashion myth, often dubbed a fashion “rule”.

It pays to inform yourself, be critical of what the fashion gurus are telling you, and make wise choices, ‘cos that can save you heaps of money!

#1 Fashion Myths that Consumes your Money: “Only Designers Know Fashion”

The priority of any fashion house is to make as high a profit as possible and simple economics show that it’s the designer labels that bring the most return on investment. Marketing plays on our emotions – just think of the intensity of your desire to purchase the new designer-branded handbag that you see on a Vogue cover, a fashion blog or a YouTube fashion channel. You begin to think of ways you can save up to buy the handbag. Before you know it, you’ve spent your money, and you’ve got a “fashion” item that will eventually be out of fashion.

#2 Fashion Myths that Consumes your Money: “Dress for the Season”

Rules in the fashion industry that lock you into a look and feel of a specific season are absolutely silly! Don’t let the season dictate what you wear. Just think how much less you’d spend on clothes if you wore any colour, any time, in any season of the year.

There are certain fashion guidelines that are sensible. For example, wearing heavier fabrics in winter (and not in summer) is a no-brainer. Wearing cords in winter, but not during the hot months, makes perfect sense. However, think of this: wool especially lightweight wool, is not just for winter, and neither is linen just for summer. Linen can be easily replaced with chambray and worn during any season.

A traditional fashion “rule” states that you shouldn’t wear white after Labour Day. White is, in fact, the most versatile colour and can be worn all year round. A combination of white, neon-white or gold tone with gem colours looks amazing during both summer and winter. Short summer skirts can even be worn in the colder seasons with leggings.

Pastel colours are not exclusive to spring. In winter, you can wear a light pink shirt paired with a pair of black jeans or leggings and a black undershirt. In summer, you can wear your light pink long skirt with a silk blouse. Soft pastels are stunning when paired with gold jewelery in winter.

Related: Money Checklist for Your 20s, 30s, 40s

#3 Fashion Myths that Consumes your Money: “Matching Accessories ONLY”

Matching all your accessories and shoes is costly. Adopt a cost-efficient way to look well-put together by mixing a range of similar colours that go well together. Choose complementary neutral colours such as maroon, navy blue, black, tan and brown.

#4 Fashion Myths that Consumes your Money: “Wearing New Stuff is the Only Fashion”

Always buying the latest seasonal must-haves is a sure way to bust your budget. Fashion is cyclical. Most fashion trends last for only 2 seasons before they’re in the sales bin. Blowing your past month’s pay on that fringed skirt or gladiator sandals does not make a lot of sense.

Try getting second-hand clothes from thrift shops, consignment stores, clothes-swapping communities, online auctions and garage sales. You will discover some real jewels in these spots. You might find designer clothes, shoes and jewellery at one tenth of the original price. All you need is some patience and perseverance to find just the right things. Remember to clean them thoroughly and be careful while wearing them.

#5 Fashion Myths that Consumes your Money: “Don’t Mix the Metallics”

Insiders claim that mixing the metals is a fashion boo-boo. However, combining metal looks can be fun as long as you match them well. You can wear a silver watch even if your dress has gold trim. Just make sure that the gold trim and the silver watch complement, rather than clash with, each other.

#6 Fashion Myths that Consumes your Money: “Different Clothes for Different Events”

There will be numerous one-time events throughout your life. You shouldn’t end up buying an occasion dress exclusively for one single event. Because, most probably, you will shelve this dresses and forget about it.  Buy a special occasion outfit that you will wear repeatedly. For fancy events, you may not want to wear the same gown twice, so a better solution could be to rent your dress from a specialised store. Websites like Rent the Runway allow you to rent a designer dress for three days – saving you money and wardrobe space.

Shopping is a whole lot of fun. It need not be a costly affair too. I probably speak for you too when I score a nice dress at low cost, and it makes the purchase even sweeter.

Related: How To Make A Million Dollars Fast

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C.E.O @ The New Savvy
Anna Haotanto is passionate about finance, education, women empowerment and children’s issues. Anna has been featured in CNBC, Forbes, The Straits Times, Business Insider, INC and The Peak Singapore. She was nominated and selected for FORTUNE Most Powerful Women conference in 2016 (Asia) and 2015 (San Francisco, Next Gen). Anna has 10 years of experience in the financial sector and is currently a Director in Tera Capital. Her previous work experience includes positions at Citigroup, United Overseas Bank, a regional role in Business Monitor and a boutique private equity firm based in Shanghai. She graduated from Singapore Management University (Finance and Quantitative Finance).