Most of us buy more clothes than we regularly wear . If you want to always look like a million bucks, though, a better shopping strategy is to buy fewer yet higher quality clothes.
Photo by CJS*64
Author Vicky Oliver recommends the One-Third Rule.
Buy one-third as many clothes as you do now, but spend three times as much on each item.
Instead of buying multiple pairs of pants at middle-of-the-road prices, resolve to invest in one pair of luxe, 100% wool black Armani pants and wear them everywhere. Apply the same logic to each item in your wardrobe. Buy one $2000 suit and never take it off, if need be. But don't squander one penny on trendy items or impulse purchases.
Clothing is an investment, Oliver writes. By redirecting your clothing budget, not only will you have better quality clothing, you'll downsize your wardrobe and enjoy a less cluttered closet.
Live Like a Millionaire (Without Having to Be One) [Google Books via Business Insider]