How Much You Should Really Be Spending on Clothing Every Month

We can confidently say that we spend a substantial amount of our hard-earned paycheck on clothes, but what exactly should our clothing budget be? To be quite frank, we had no idea, which is why we were excited to research this story. And just in case you’re in the dark about your spending habits as well, we thought we’d bring the matter to light with a super-simple equation.

To get to the bottom of it, we looked to award-winning financial planner Pete Dunn. Based on his expertise, we calculated what your clothing budget should be per month based on your salary. And because we still fully condone adding a few pieces to your wardrobe each month, we included a few on-budget pieces that we recommend for each of the salaries listed below. Keep scrolling to get ready for your reality check.

According to Dunn, you should spend 5% of your monthly income on clothing. To find the exact dollar amount you should be spending per month, multiply your take-home pay by 0.05. For example, if your monthly take-home pay is $3000, you should spend around $150 per month on clothing. While everyone has a unique financial position and you likely know your own situation best, we find that the 5% guide is helpful for reeling in those oh-so-tempting shopping sprees. Read on to see the types of purchases that are appropriate for different income brackets.

Hopefully, this guide has helped you figure out how much you should be spending on clothes per month. But like we’ve said before, you know your financial situation best.

This post was originally published at an earlier date and has since been updated by Anna LaPlaca.

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