You’re strolling through Neiman Marcus and you spy this adorable J Brand Denim Jacket. You look at the tag and see that it’s a touch over $200, so you wonder if it’s worth the price.
How do you know if you’re getting good value for your hard-earned money? Just follow my simple formula and you'll know:
n First, determine the number of garments in your wardrobe that can be worn with it.
Let's say that you have 1 dress, 2 pairs of slacks and 2 skirts that can be worn with your new jacket, which makes a total of 5 garments.
n Now, divide the cost of your new jacket by “5” ($200/5 = $40)
Your $200 jacket has now been reduced to a cost of $40.
n Now, estimate the number of times you will wear your new jacket per year.
Let’s say that you will wear it 20 times in one year.
n Now divide that $40 by “20” ($40/20 = $2)
Your $200 jacket has now been further reduced to a cost of $2
n Finally, estimate the number of years you will wear your new jacket.
Let’s say you will wear it for 5 years.
n Now, divide that $2 by “5” ($2/5 = 40 cents)
Your $200 jacket has been reduced to a cost of 40 cents. Wow! I don’t know about you, but that’s good value for money in any woman’s book.