14 Jan 2019

Fashion vs Finance



Image Credit: Unsplash

If you are in love with high fashion then the chances are that you spend a lot of your time working out how you can get the clothes you love within your grasp. And all too often the word ‘spend’ is at the very heart of your decision making. How many times have you considered taking out a loan just so that you can show off a new outfit at the weekend?

The main problem with fashion is that it moves so quickly and costs so much that even people working in the industry struggle to keep up with it. As new trends emerge and vanish, it gets pretty tiring to try and keep pace. And, even worse, the peer pressure to keep up within the industry is creating a pressure cooker of stress and anxiety.

So what happens when you love creating and styling new outfits but you need a more sustainable way to enjoy your creativity and flare? What are your options?
Loans vs Saving Up
Borrowing vs Owning
Your Look vs The Look
When you want money fast, guarantor loans from a direct lender can be just what you need. They are easy to sign up for, you can tailor them to borrow just the right amount and you don’t even need to have a shiny credit history to be accepted. If you ever wanted to snap your fingers and transform your wardrobe from pumpkin to glass carriage, this is your solution.

Until you have to pay it all back.

The main downside of loans is that money is never free. Even if you do all the maths properly, you will still end up spending a significant amount of interest as a new fashion trend emerges. This is a major issue.

The good news is that there is another option. Yes, saving up does take longer and you will have to be strict with your spending to make it happen but when you save up and then pay direct, you won’t have to worry about interest rates or late fees. If saving up teaches you anything it is the true value of things. If you aren’t prepared to save up for something over a couple of weeks, that something probably isn’t worth your money.
Borrowing your clothes might sound like a weird idea but think about it: fashion moves so quickly that what you are wearing this month might be completely disastrous next month. Borrowing your clothes - especially those that form microtrends that barely last a season - is a good way to be part of the moment without worrying about your long term expenditure.

Many companies are now springing up to offer loaned clothes, giving people the chance to wear something amazing just for the night. But it’s not just about finding something cool for a party, you can also rent high street fashion for a fraction of the price, transforming the idea of disposable fashion into something a little more sustainable.

But you probably should still own some of your clothes! Everyone should aim to have a basic capsule wardrobe so that no matter what the occasion, you have something to wear. The capsule wardrobe isn’t about fashion in the moment, but a series of key pieces that will always look chic. Spend a little more on these pieces to ensure longevity and then rent the rest.
One of the first lessons of fashion is that there are no real rules. You have to make your own style and develop a look that is all your own. In most cases, this includes a mixture of clothes from charity shop steals all the way up to major fashion investments. But creating your own look also requires a great deal of confidence. You have to be able to see a fashion moment happening and make a firm choice not to follow the crowd.

The greatest fashion figures have all developed personal styles that say something about their personality and show off their features. Coco Chanel chose to create a black dress in order to stand out in an ivory crowd and, when you consider the immense success of the LBD, her bold choice continues to resonate.

Fashion is fleeting and even when you know what the look of the moment is, it doesn't mean that you have to get onboard. The real trick of fashion is to stay just a tiny bit ahead of the crowd. Blaze your own trail and figure out what works for you and not just anyone.

Lauren Eliza x
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