How don't you go broke & up to your eyeballs in debt?!

[mike]

Admins feel free to move this to where it best belongs. But as for me, it's in the suit section all the way because my mind is overloaded with ideas for repro suit combos and searching ebay for the perfect fitting vintage suit. But how in tar-nation is anyone's bank account supposed to keep up with them? I'm right now looking to consolidate my credit cards and in doing so am thinking of one last big charge of a suit (...or two?! hahaha) since it will go onto a 0 apr for a year and relatively low apr after that aswell.
Anyone have any helpful hints?! I mean I'm 27 years old, with a steady job making mid 30 grand a year + car payments and the normal amount of financial woes but I've convinced myself if I could just get another 2 or so suits then I have will have enough to rotate properly through the week and then could -almost- go cold turkey until I pay off big chunks of debt.

P.S. my girlfriend thinks I'm out of my ever loving mind

 

[carter]

Mike, Don't give up hope. Keep searching but not just Ebay. Try looking in Craig's List on the internet. Check out resale and thrift stores. Go to estate and garage sales as well as flea markets. There are myriad possibilities. Be patient. Be selective. Don't be taken advantage of. Never subject yourself to Buyer's Remorse.

 

[Sin Khan]

I feel your pain brother man, and I must say that you are not the only one here that may be feeling the sting of debt in your love of period wear and suits and hats. Here is what I recomend.

Learn to love what you have and learn more about the period in question. What I mean is that back in the 30's and 40's people did not have a lot of money per say. But what they did back then more than most people do today is that they lived simply and when they made purchases they bought quality, not quantity. It was common for people to only have one or two suits, not an entire wardrobe full of them. As well, some of those suits may have lasted for many years of wear, which is why so many of them have found their way to ebay after all this time. A quality suit was not a trivial thing. It was a purchase of a lifetime for most people. A gentlemen had a range of suits and shirts and that was about it. If you have ever studied the design of a travel trunk then you can understand what I mean. Travel trunks of the period had space for about 5 suits and all the attire that when with them and space for about 2 pairs of shoes.

Today, we are innundated with seasonal styles. Look in anyones closet theses days and you will find about 40 or more outfits. You have summer sweaters, parkas, rain coats, tee shirts, dress shirts, casual shirts, blue jeans, dress pants, cargo shorts, cargo pants, ect ect.

People of yesteryear did not have all that jazz. If you took someone from 1930 and brought them to your modern day closet they would say that your crazy for having all that. They would say, get rid of all that junk and just get yourself about 5 quality suits and a good trench coat with a liner and be done with it. Learn to appreciate what you have and learn to live simply.

However, most of us are just like you and before getting into this we didn't realize how the people that lived during those times afforded it either until studying that fact that they actually had a lot less than you do. That's why it is such a popular theme in movies of the period for someone to get some windfall of cash and the first thing that they do with it is "get a new suit" and of course go to a barber for a "shave and a hair cut". This was a big deal back then yet today we think of it trivialy. When that person in the movie goes out to get a "new suit" they are making a life long purchase of importance, not a fleeting throwing away of cash. As well, if you notice, everyone in the movie "notices" immediatly that the fellow has got a new suit. This is obviously becuase he did not have that many, as most people did not. It was always generally apparent when someone got a new suit because it was often that you only saw someone in 2 suits and perhaps thier 3'rd "sunday best." Which overtime might (if they got another new suit) be rotated back to general wear.

I will post more later.

 

[Paisley]

There is a thread about budgeting in the Powder Room.

 

[Feraud]

All sound advice has been given but let me add my .02 cents..
Instead of having to wear a custom or vintage suit 5 days a week try some sports jackts.
They can be found somewhat easier and cheaper than suits.

 

[Miss Neecerie]

Pace yourself.

Rome, and vintage wardrobes were not built in a day.

Half the fun is in the hunt...and in the bargain-getting.

Its seriously -no fun- to have great clothes....and not be able to leave the house to go places because you have no cash.....

 

[AlanC]

Don't charge it. It will only lead to a life of woe.

If you haven't yet, I suggest thrifting. You'll be amazed at what you can find over time.

 

[Joie DeVive]

My personal policy is that if I don't have the cash to pay for it, I just don't buy it. That can be hard sometimes, but I've seen too many people really struggling to get out from under credit-card debt. It can be a pretty big monster to tame if it gets out of control.

I've had a great deal of success squirreling away dough a little bit at at time. The Mister and I have given ourselves a weekly allowance for personal and household spending. At the end of the week we squirrel away whatever is left to spend on goodies for ourselves. Just a few dollars a week adds up surprisingly quickly. Think out ways to cut costs. Are you getting a daily mocha-frapa-lapa-ding-dong? What if you skipped that? Could you bring your own coffee in a travel mug, or make it at work? If out with buddies, could you just have water, or some other low cost option? Those are just examples, there are tons of daily expenses you can work to cut. If you know those pennies you save are going for something you really want, it may be easier to skip those expenses.

The other ideas listed such as thrifting, and shopping estate and garage sales are also really good ones. There are still really nice things out there for reasonable prices if you look long and hard enough.

 

[Paisley]

Are you getting a daily mocha-frapa-lapa-ding-dong?

lol

Living within one's means is a very Golden Era way of life. Consider that people didn't have credit cards then and bankruptcy was a disgrace. Banks weren't as secure in those days, so people had to be very careful with their money. Even etiquette maven Emily Post said again and again in her 1940 etiquette book that ladies and gentlemen must live within their means.

Do you need two more suits right now? What have you been wearing up until now? You don't mention having a new job or having all of your clothes stolen or ruined, so I'll assume this is a want, not a need. I suggest you get a great suit when you don't have to do financial gymnastics to buy it.

 

[resortes805]

If you live in LA, start hitting the vintage shops. Unless you under a size 38, vintage suits are cheaper in 'real life' than on ebay.

Most of the long time vintage clothing enthusiasts got their start shopping in the thrift stores. They paid their dues foraging through rack and racks of polyester in search of something decent.

One of the perks of vintage clothing is that it's supposed to be cheaper than modern offerings off the rack, never lose sight of this.

 

[Orgetorix]

Don't charge it. It will only lead to a life of woe.

If you haven't yet, I suggest thrifting. You'll be amazed at what you can find over time.

I'll second that. Stay away from credit cards, and make time to visit thrift stores regularly.

 

[Vintage Betty]

I'm sure this has been said before

But there are a few other options too.

Buy Up
Start your collection small, and eventually buy up as your income increases or you find bargains. You are only 27 and your body size will probably change in the next 5-10 years.

Sell off items you don't use any longer
This will give you the cash to buy what you want/need

Give away
Give away to charity and take a tax deduction

Trade
You would be shocked to find what I've traded for over the years (and yes this is all true). I've either gotten it free or for discounts. Note I didn't say any of this was gifts:

• 2 years worth of groceries - free
• car repair - discounted
• dental repair - discounted
• 1920's beaded dress - free
• Period jewelry, men's and women's - free
• Hats - free
• Millinary Trim - free
• Books - old, costume, vintage, antique, etc. - free and discounted
• Clothing - free
• Handyman Repair - free and discounted
• Craft supplies - free
• And more - free

You can trade your old items on the Lounge or with like-minded friends who share your passion. Sometimes you might find something you don't need, but can post it on the lounge and be vague about what you are looking for in trade. Anyone who thrift shops can tell you this is especially fun when you find a 50 cent item and trade it up.

Hope this helps.

Vintage Betty

 

[scotrace]

Using Credit Cards for consumption is a bad idea in any case. Be patient. Half the fun is the hunt, and when you score THE thing for a song, it's a huge thrill.

The best suit I own, which would be one of the top 5 suits anyone in the United States owns for quality, style and workmanship, cost me $60. It took two years to find it, but was worth every minute.

See this for some excellent reasons to keep your card spending under $75 a month or so, and never carry a balance. or this article as well. High interest rate credit is enslavement.

There are always more suits out there.

 

[happyfilmluvguy]

Don't buy things that aren't necessary unless you have extra money and don't buy things often. Plain and simple.

 

[mike]

talk about the great depression!
no really, thanks so much for the viewpoints! And scot, those 2 weblinks in regards to interest and apr are really quite scary...
anyway, we are on the verge of getting an ebay store up and running that my girlfriend ran successfully prior to us living together that we will try doing in half the time together soooo hopefully we can have another source of income coming in.
Again thanks everyone I have much to learn, funny though I never thought living in NYC was too expensive but LA is really stretching me far too thin.

 

[cookie]

One final Point

When you have a half a dozen suits you don't spend $$$$$$ on dry cleaning..

 

[Tony in Tarzana]

You are only 27 and your body size will probably change in the next 5-10 years.

Vintage Betty

Please don't remind me. lol

 

[Vintage Betty]

Remind you???

I see it every day in my mirror!!!

 

[PrettySquareGal]

Using Credit Cards for consumption is a bad idea in any case. Be patient. Half the fun is the hunt, and when you score THE thing for a song, it's a huge thrill.

The best suit I own, which would be one of the top 5 suits anyone in the United States owns for quality, style and workmanship, cost me $60. It took two years to find it, but was worth every minute.

See this for some excellent reasons to keep your card spending under $75 a month or so, and never carry a balance. or this article as well. High interest rate credit is enslavement.

There are always more suits out there.

Excellent advice! My credit card co must hate me- I pay my balance in full every month but cash in my points earned for free steak!

 

[Kishtu]

And an extreeeeeeeemely sad addition....

Put away your loose change!

Get a jar, get several jars, and decide what coins you're least going to miss (my dearie and I do 5p, 2p, 1p, 10p and 20p pieces)
Whenever you get a pocket full of loose change - or rather not a pocket full, or you end up with great big holes in your good pocket linings - sort it out into the appropriate jars. When you want to cheer yourself up, get a couple of those little plastic bank cash bags and count it up

Put it this way, in the last six months we've salted away nearly £70 for Christmas spending, that we haven't missed. If we need change for buses, we take it out of the pot. It mounts up astonishingly quickly!