Most of personal finance is about how to earn, save, and invest money. Yet, spending money with intention is just as important.
Bottom line, I don’t think there should be guilt associated with responsible spending. That is why I have made a goal of spending $2,000 in 2012 on something that is important to me: a wearable, chic, cohesive wardrobe. The $2,000 will cover everything related to editing, building, and refining my wardrobe, including alterations, shoe inserts, bag repairs, jewelry and accessories, etc. I am going to try to limit myself to $150/month, and have a month or two when I can make an extra purchase if I want – such as when I head to Buenos Aires, Argentina in June.
My favorite stores include Banana Republic, Gap, J. Crew, Nordstrom Rack, and TJ Maxx. I also check out sample sites Ideeli and Rue La La quite a bit. Before I make any purchases online, I go through Ebates so I can get 2%-5% cash back on my purchases. That money goes into my Funny Money account. I am a consummate sales shopper who tries really hard to look for at least a 50% discount on the original retail price before I pluck down my credit card. That’s how I am confident that I can get attire that is of good quality (wool, silk, and leather, fully-lined, etc.) at fairly reasonable prices. But at my planned spending limit, Louboutins are definitely out. 
Why spending goals are important
When I first started blogging, and even to this day, there’s a level of guilt associated with buying things for myself – things that are not considered “necessary” or “important” (i.e. non-educational items). But we all make money to spend it – what matters is how we spend and on what we spend. And the only right answers to those questions, of course, is responsibly and joyfully and things that we value. With a spending goal, I can structure my expenses so that they are guilt-free, planned, and carefully considered. If I didn’t have spending goals, I may very well STILL spend $2,000 on clothes and shoes. But my purchases wouldn’t be nearly as fun or as planned.
(Also, a confession: I’ve tried to try (and like) the minimalist thing, and I decided that there is a difference between my 3 black wool sheaths, and I do need a 4th. Oops!)
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