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Fashion maths lipstick effect

  

The lipstick effect sees that smaller luxury goods are bought instead of larger luxury goods. 
I’ve been into stores so many times and looked at a handbag, that I knew I couldn’t afford and bought a smaller item, such as a lipstick or even face cream just to feel like I’ve bought something. 

Or you have walked into a store knowing full well you’re not going to buy anything, but then you feel like a small purchase under £20.00 won’t be breaking the bank and ita done to purchase this is known as the lipstick effect, we sometimes do this unconsciously. 

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Fashion maths 5 cost per wear 

Think of your last purchase! Did you think before purchasing it or was it an impulse buy? 

When purchasing an item, especially expensive items, it is always good to work out cost per wear. Cost per wear is worked out by dividing the cost of an item by estimated  no of times it will be worn. If you can justify spending that much money on cost per wear then buy the item. 

Example 1 

A suit in reiss costs £300.00 I will wear it approximately 20 times. 300/20 = 15 

The cost per wear is £15.00. Which I feel I can justify the cost per wear. The initial outlay will always be £300.00

Additional factors need to be considered when working out cost per wear. 

If you were to buy a beaded black dress for a nightout, you needed to consider the cost of dry cleaning it, what if the beads fall off? 

Example 2 
A beaded dress costs £250.00 you estimate you will wear it twice. 250/2 = 125.

The cost per wear is £125.00 per wear, which can be justified for a night out. 

However, the dress’s will need to be drycleaned £20.00. If the beads fall off then these will need to be reattached. The cost of this will be £25.00

The total cost per wear is

125 cost per wear of dress
  20 cost of dry cleaning
  25 reattachment of beads
165

The total cost of the dress per wear is £165.00 can you justify this cost? 

Another factor to consider is seasonal items. 

Example 3

A coat has been reduced in the sale for £250.00 from £500.00. However, spring is around the corner, the weather is warming up you estimate you will wear this coat twice before the weather warms up and you need a jacket. You also know that you will definitely not keep it to wear next winter. 

250/2=125

The cost per wear for the coat is £125.00 does it really seem like a bargain  now? 

Cost per wear is a philosophy not a mathematical formula. It’s the opposite of what fast fashion stand for it makes you value quality over quanity. 

Example 4 

A pair of Diesel jeans cost £150.00 pair of jeans from Primark cost 12.00. You estimate the diesel jeans will be worn once a week for a whole year, whilst the Primark jeans will be worn twice.

Cost per wear 

Diesel jeans                  Primark jeans
150/52= 2.88                  12/2=6.00

The cost per wear is £2.88 for the diesel jeans whereas the cost per wear for the Primark jeans is £6.00. Which one is better value? 

Don’t worry, you don’t need to take a calculator before you go shopping ballpark figures work too, I round prices up by 10 and per wear number by 2. 

Hope this helps. 

Fashion maths 3 savings


What do you do when you have an unexpected bill? 

Unexpected bills can come at any time and these needs paying straight away. How many of us have had to budget or even take out a pay day loan to pay this unexpected bill. 

Did you know the interest rate on a payday loan is 1000% plus that means if you borrowed £500 you would be paying back an astonishing £5000 interest on that loan. Making the total amount to be paid back £5500. That’s 10 pairs of Jimmy choos!!! 

By saving a small amount each month say 10% each month will provide a safety net for them unexpected bills. If you take home post tax a salary of £25000 annually, you will have saved £2500 in a year. 

£2500 for them unexpected bills, or money to spend at the end of the year. Just remember not to spend it all. 

Fashion maths 2 credit cards

I’m sure all of us have credit cards, how many have more than 1?  Do we actually understand our credit card. 

A credit card is not free money. It’s money borrowed from the bank that has to be paid back with interest. 

Credit cards are only free when we pay them off straight away. 

Let’s say you had £10000 worth of credit card debt and only made the minimum payment each month. It is going to take decades to clear that payment off. An example is given below.

Interest rates can make debt appreciate in value just as a Hermes Birkin bag appreciates in value. However this is not a good appreciation. Always try to pay off your credit card in full. 

A credit card is not your friend treat it like a debit card (paying the full amount off straight away) and you can be best of friends. 

Hope this helps. 

Fashion Maths 1


Did you know we spend 55% of our income on fashion? Yes! 55%, your probably thinking what has fashion got to do with maths. 

Well a lot actually, any shopaholic fans out there? Becky used fashion maths sometime when she was curtailing her spending. Now I’m not talking about make more money but actually thinking before you buy. 

How many of us can relate to Becky, shopping on impulse, the hidden credit card. Follow me and I will teach you how to spend less money and no I won’t be making you sell all your clothes.