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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Founder @ The New Savvy
Anna Haotanto is the Advisor (former CEO) of The New Savvy. She is currently the COO of ABZD Capital and the CMO of Gourmet Food Holdings, an investment firm focusing on opportunities in the global F&B industry. She is part of the founding committee of the Singapore FinTech Association and heads the Women In FinTech and Partnership Committee. Anna is the President of the Singapore Management University Women Alumni. Anna invests and sits on the board of a few startups. Anna is also part of the Singapore Chinese Chamber of Commerce & Industry Career Women’s Group executive committee. Anna’s story is featured on Millionaire Minds on Channel NewsAsia. She hosts TV shows and events, namely for Channel NewsAsia’s “The Millennial Investor” and “Challenge Tomorrow”, a FinTech documentary. Anna was awarded “Her Times Youth Award” at the Rising50 Women Empowerment Gala, organised by the Indonesian Embassy of Singapore. The award was presented by His Excellency Ngurah Swajaya. She was also awarded Founder of the Year for ASEAN Rice Bowl Startup Awards. She was also awarded the Women Empowerment Award by the Asian Business & Social Forum. Anna has been awarded LinkedIn Power Profiles for founders (2018, 2017), Tatler Gen T, The Peak’s Trailblazers under 40 and a nominee for the Women of The Future award by Aviva



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