Ever wonder if your purchases are really worth what you’re spending? $20 for a top? That’s a steal! Do you mull over the value of spending a few hundred dollars on a pair of premium jeans? There are a lot of thoughts that go through our minds when we shop– does this colour look good on me, are these pants flattering, what can I wear this with, and how much is it. We’re also pretty good at justifying a price that makes us gulp. For many of us, I would say these are some typical questions that we ask ourselves before handing over our plastic. What few of us do think about is cost per wear. Cost per what??
Cost per wear = $ cost of garment / number of times you’ll wear it. It’s a simple formula that breaks down the cost of your garment for every time you wear it and speaks volumes about what you should and shouldn’t splurge on.
Let’s refer back to that $20 top. At first, it seems like a really good deal that you shouldn’t pass up on. You bring it home and the excitement of finding a good price wears off. You notice that the colour doesn’t quite flatter your skin tone. You hang it in your closet and pull it out on laundry day, wear it once, and shove it back into your closet never to see it again. That top cost you $20 for the one time you wore it when you had nothing else to wear.
After spending a few hours at the mall trying on what seems like every pair of jeans available, you find a pair that are a good weight, nice wash, and flattering to your derrière. Price tag: $275. That’s a hefty chunk of change for a pair of jeans. Exhausted, you decide to take the jeans home and end up wearing them on a regular basis, once a week. In a year, that works out to $5.29 for each time you wear your extremely well-fitted jeans.
Of course the scenarios vary and hey, you might find a great top for $20 that you wear often in which case your cost per wear ends up very low. The point is to think about what you are buying and how often you will realistically wear it. Thinking about cost per wear helps you determine if an item is worth its price. High cost per wear items like prom dresses that you wear once, maybe twice if you’re lucky, are impractical to splurge on. Other expensive items that you will wear regularly give you a low cost per wear, indicating what you should spend your hard earned money on.