You might not think that your wardrobe reflects your financial habits, but in a world where personal finance is a hot topic and influencers like Chloe Elise are shaping the way we view money, And one of the biggest changes that people are making is their mindset. Around wealth. Chloe Elise, a renowned money influencer and founder of Deeper Than Money, aims to improve financial well-being by not only focusing on budgeting and saving, but also by encouraging people to enhance their relationship with money. We’re trying to change the way we think about.
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One place she often starts is in a rather unexpected place: the closet. According to Elise, how we approach the clothes we buy, wear, and store can reveal a lot about how we think about money. Simply put, it’s good to take a closer look at what’s in your closet and improve your financial mindset.
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According to Elise, the emotional drivers behind financial decisions when purchasing clothing are a key area to assess your spending habits. You may feel stressed or bored, or you might buy new clothes as a reward.
Elise believes that by becoming more aware of these patterns, you can break the cycle of emotional spending. For example, rather than indulging in retail therapy or shopping to fill an emotional void, take a moment to reflect on your feelings and consider whether the purchase is something you really need or if it’s just a temporary purchase. She suggests determining if it’s just a way to soothe your emotions.
Take a look inside your closet. Do you have items that are left unworn and forgotten about, with tags still attached? These are clues that emotional spending may be occurring in your life. Chloe emphasizes that recognizing these patterns can help you make more conscious decisions with your money and avoid extravagant or impulsive purchases.
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Elise encourages viewers to think about the value of each purchase rather than the number of items they own. It’s easy to fall into the trap of buying fast fashion because it’s cheap and readily available, but Chloe recommends investing in high-quality pieces that will last. She frequently points out that having fewer, well-made items often costs less in the long run than continuing to buy cheap, low-quality alternatives that quickly wear out. there is.
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She suggests first looking through your closet and identifying items that have stood the test of time. These are the items you’ll always want to have that look great even after multiple wears and washes. Focusing on quality can not only save you money in the long term, but also improve your financial decisions in the short term, both of which can help you create better budgets.
To improve your relationship with money, it’s important to make the most of what you already have. Elise advises organizing your closet to find items that no longer fit, fit your style, or simply haven’t been worn in years. Once you have everything sorted, you can resell these items to make some extra cash. Apps like Poshmark, Thredup, and even local consignment shops can turn forgotten clothing into extra cash.
By reselling your clothes, you’re not only practicing smart financial habits, you’re also committing to Elise’s sustainable consumerism. It’s a win-win because you’re not only cleaning up your space and reducing clutter, but you’re also earning passive income in the process.
The idea of a capsule wardrobe, which Elise previously talked about, is to curate a collection of versatile, essential clothing that can be easily mixed and matched. The goal is to reduce the need for regular shopping while ensuring you have the perfect outfit for every occasion with just a few adjustments.
Building a capsule wardrobe teaches you to be more intentional about what you buy. Instead of buying multiple trendy pieces that quickly go out of style, invest in timeless pieces that complement each other. Practicing this habit will help you avoid impulse purchases, develop a minimalist mindset, and develop a healthier relationship with money.
Finally, Chloe Elise emphasizes the importance of rethinking the way you look at your wardrobe when traveling. Instead of focusing on what you don’t have on your upcoming vacation, focus on what you do have and think of it as a reflection of abundance. That way, you won’t have to spend a fortune or stress out before a vacation that’s supposed to be relaxing.
When you open your closet and see your collection of clothes that you love and use, you’re more likely to feel satisfied with what you own, and you can take that feeling home with you. This shift in mindset can be applied to other areas of life, learning to appreciate the abundance you already have instead of always seeking more.
The bottom line is that Elise’s approach to money isn’t just about numbers, it’s also about mindset. By encouraging her followers to take a closer look at their own closets, she explores an area of our lives that many of us find susceptible to poor financial habits. By changing your relationship with your wardrobe, you’re doing more than simply organizing your closet. Elevating your overall approach to money is a great way to literally and figuratively dress for success.
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This article originally appeared on GOBankingRates.com: Influencer Chloe Ellis: Check out your closet to improve your money mindset
