How often do you buy clothes and how much do you spend? If you're given a choice to switch from buying to renting and overall have cost savings, will you do it?

I only come across renting designer wear.. so I'm going to assume that ur referring to that.. personally if ur one that need to wear designer clothes due to environment/lifestyle/peers, I think is a good idea in terms of being environmental friendly and cost savings.. u don't have to spend a lot of money on designer clothes.. I tried once it's quite a high demand business and have long waiting list so even if u want to rent also mut wait..

Once every 6 months? nah, would rather keep my own clothes

The frequency and amount one spends on clothing can vary greatly depending on individual preferences, lifestyle, and financial goals. There isn't a one-size-fits-all answer to this question. Here are some considerations:

1. Personal Style and Needs: Your clothing spending may depend on your personal style, job requirements, and social activities. Some people need to update their wardrobe more frequently than others.
2. Budget and Financial Goals: Your clothing budget should align with your overall financial goals. If you find that clothing expenses are hindering your ability to save for more important financial objectives, like retirement or a home purchase, it might be worth considering cost-saving alternatives.
3. Quality vs. Quantity: Some prefer investing in high-quality, long-lasting clothing items, while others prefer a larger quantity of more affordable options. Your approach can impact your spending.
4. Environmental and Ethical Considerations: Renting clothing can be seen as a more sustainable and ethical choice since it reduces waste. If environmental concerns are a priority for you, this might influence your decision.
5. Special Occasions: Consider how often you attend special events or have formal occasions that require specific attire. Renting formalwear for infrequent events can be cost-effective.
6. Convenience: Renting can offer the convenience of having access to a variety of clothing without the commitment of ownership. It can be a practical choice for those who like to change up their style often.

Ultimately, the decision to switch from buying to renting clothing should align with your unique financial situation, values, and lifestyle. It's a personal choice that should contribute to your overall financial well-being and happiness. It's also a decision that can be reviewed and adjusted over time to ensure it continues to meet your needs and goals.

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I am currently a Financial Advisor as well, so feel free to reach out to me on IG (@ngooooied) if you have any further questions！

I used to buy clothes monthly when I see something I like. But I usually buy cheap clothes like maybe 50-100 dollars a month expenditure. These days, I have stopped that habit as I have accumlated so much clothes to wear. I dont like the idea of renting clothes as it is something personal and I dont want to fuss about getting it dirty or not being able to wear it when I want to. If you are thinking to start a business on renting clothes, that market is more niche and I think it is better only for certain types of clothes that are more expensive.