Wardrobes and Budgets

Financial Cup of Tea

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By Sarah Chisholm
Financial Advisor, O’Farrell Financial Services

Grab your favourite cup of tea or coffee and let us build your back to work wardrobe. 

As more and more of the general population gets vaccinated, we are slowly seeing workplaces re-open. For many, this means transitioning from a video-call wardrobe to full office attire. Whether your clothes are now out of style or no longer fit due to additional covid weight gain, it is likely time to head to the stores and overhaul your wardrobe.

Here are five things to consider when selecting your wardrobe.

  1. Classics – What pieces can you buy that will last several years versus one fashion season? Classic blue or black dress pants can become a staple in your closet. Use coloured tops, ties, or jewellery to change the look. Invest in quality pieces that will last. 
  2. Budget – this word comes with all sorts of negative connotations, so instead of budget think of it as a goal. Your goal can be to create three outfits for under a specific amount.
  3. Alterations – have you considered altering older pieces? Tapering pants, fitting jackets, or dress shirts can be an affordable way to update your current wardrobe.
  4. Second hand – if you cringe at the idea of second hand, think of it as vintage. North Grenville has some fantastic second-hand stores. Go in with an open mind, and you may find a few quality pieces that you adore.
  5. Shop Local – save a trip to Ottawa and access the stores we have in North Grenville. Whether you are looking for clothing, footwear, or jewellery, North Grenville has several options.

For families with young children or teenagers, many of these same tips will apply to back-to-school shopping. For classics think of essentials like back packs that can last several school years. For budget consider setting your kids loose at local stores with some cash and setting expectations on what parts of the wardrobe they need to fill. Youth can create individual styles with vintage pieces. For young kids, take advantage of hand me downs and use a rolling budget so that you add pieces throughout the year as your children grow.

Need more tips on budgeting or investing? Please reach out for a full financial review. 

We welcome questions so please reach out! See our ad in this week’s North Grenville Times and follow us on Facebook @OFarrellFinancialServicesInc.

 

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