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I Read an interesting article on www.the-money-cafe.com check out some of these points.

“Fashion is a form of ugliness so intolerable,” declared Oscar Wilde,” that we have to alter it every six months.” Now, that’s some food for thought if you are a woman contemplating the purchase of an exquisitely tailored $1200 Chanel outfit along with a dainty little $500 Fendi handbag.

The same applies if you are a man contemplating some new threads and think that only something high-end from Hugo Boss, Armani, or Savile Row will do.

Many people get themselves in financial trouble (requiring debt management help) because they don’t realize how much they spend on high-end clothing and how little they get in return.

Researchers have found that people on the average will underestimate by 50 percent the actual amount that they annually spend on their wardrobes. Moreover, spending choices on clothing aren’t as well thought out as we may think.

The Chicago Tribune recently reported retailers know that most purchasing decisions are made in five seconds and at least 70 percent of purchases are impulsive. Given that clothing is the most popular item purchased on impulse, most of us rarely spend any time in contemplating the benefits of paying $400 for a name-brand jacket or $950 for an exclusive high-end outfit. Whenever we do give it any thought, it’s a superficial treatment at best.

It is difficult to see why lace should be so expensive. It is mostly holes.
— Mary Wilson Little

The same type of contrived reasoning which persuades us that we need an expensive house is used to justify the purchase of expensive clothing. For example, we may rationalize the purchase of an expensive suit or outfit by saying that it will make us feel more successful, and at the same time make us more productive at work.

What do you think about these points? valid?