As I contemplate the cost of a winter coat, so many factors are racing through my mind: Fit, quality, style, durability and PRICE POINT. Now, you must be wondering why I emphasized price point, and it’s because that’s how I shopped for many years. I’m always looking for the item that was least expensive or on sale, never taking into consideration the quality, fit, or durability.
After a closet full of clothes I no longer wear or want, I decided to change my perspective on how I shop. I wanted quality clothes but didn’t want the price point to be the deciding factor. However, I did not know how to achieve this until I came across the idea of “Cost per Wear.”
For those who are not familiar, the Cost per Wear (CPW) is a simple equation where you take the total cost of the item divided by the number of days you’ll wear it.
CPW=$ per item
# of days you’ll wear it
Seems pretty simple, right? Well, not so much when you’re a compulsive shopper or out with friends who are encouraging you to “just buy the damn shoes.” So to show you, below are four items I’ve purchased in the last two years and the CPW for each item.
OTK Steve Madden Boots purchased in December 2016 in Las Vegas for a Jlo concert
Reason for purchase– I did not pack appropriately for that weekend getaway and I spent my Saturday afternoon at the Las Vegas Mall looking for an outfit.
Amount of times I’ve worn them-Worn them twice before reselling them online
$90/2= $45 CPW
Good Purchase? No. While I thought that these boots were going to be a staple piece for my wardrobe they were uncomfortable and I ended up reselling them.
Forever 21 Overalls purchased in November 2016
Reason for purchase-Browsing online and thought they were “cute.”
Amount of times I’ve worn them– Worn one time at home. As cute and trendy as these overalls looked, I can never get out of the house without looking like I rolled in lint. I also could not resell them for a reasonable profit.
CPW- $32.90/1= $39.20 CPW
Good Purchase?No. As much as I try to avoid that store like the plague, it always seems to win me over and I end up picking up items that do not fit me correctly.
Urban Outfitters Jumpsuit purchased in June 2017
Reason for purchase– Just because
Amount of times I’ve worn them– More than 8 times
CPW- $69.70/ 8 times= $8.70 CPW
Good Purchase? Yes. I lived in this jumpsuit this summer. From daytime brunches to evening dinners, it was a piece I was always comfortable wearing. When I first purchased it, I was on the fence because $70 for a trendy jumpsuit seemed expensive for me but, I quickly calculated the CPW in my head and knew, in the long run, it would be worth it and I could resell it or donate it when I no longer wanted it.
Oversized Army Fatigue Jacket from Crossroad Trading purchased in September 2017
Reason for purchase– Needed a Fall Jacket
Amount of times I’ve worn them– more than 10 times
CPW- $50/ 10 times= $5.00 CPW
Good Purchase–Yes. Similar to my jumpsuit from Urban, I have worn this jacket a lot during the fall and now incorporate it into my colder wear wardrobe.
Now that you’re catching my drift, the goal is to buy less, but better clothing. Clothes that make you feel and look good.
Thanks for reading and stay tuned for next week as I share three things I stopped doing in order to make better shopping decisions online or in the store.