There are several factors that one should consider when purchasing clothing and footwear. Quality and price are certainly important (and we will cover these in later blog posts), but so too is the value of its usefulness to you. A quality suit at a good price is still a foolish purchase if you will only wear it a few times in the year. This is why sales can actually be more Expensive than you think!

So why would a more expensive item of clothing be a better Investment in the long run than a less expensive item? Because the number of times you wear the item reduces the average cost per wear, making it a better investment.

The factors that determine the cost per wear of a garment include:

The purchase price and alteration cost(s)Dry cleaning or laundry costsAmount of use.

The equation to determine cost per wear:

Total Investment =Purchase Price + Cost of Care

Cost per wear = total investment / number of wears

Scenario #1

You are considering buying thatchrome-tanned Coach leather retro jacketyou've been eying off all season for $700. This is a versatile piece that matches many items in your wardrobe. You expect to wear it around 40 times during the year. It will require one trip to a specialist leather dry cleaner for the year at $30.

Total Investment = $700 + $30

= $730

Cost per wear      = $730 / 40

= $18.25.

Scenario #2

That knitted sweater you would like to buy is now 40 per cent off and costs around half the price of the leather jacket at $360. The sweater is washable so there is no need to visit the dry cleaner. Although, it only matches one outfit, so you will only be able to wear it around 10 times during the year.

Total Investment = $360 + $0

= $360

Cost per wear      = $360 / 10

= $36

Although the sweater is less expensive than the jacket, the actual cost per wear is greater.

Cost and quality are both important factors when making clothing decision, but you must also consider the value of its usefulness to you in light of its versatility and compatibility with your other wardrobe items.