I came across a statistic a few months ago. Apparently, the average United States citizen spends 4-7% of their income on clothing. I follow suit. Now, I also discipline myself to spend that amount on clothing, shoes, accessories. Of course, should everyone do this, the fashion industry as well as society itself would thrive, I feel.
According to the news media, we live in a time of billionaires. For example, Jay Z has (with his wife Beyonce) over 1.4 billion dollars. I am assuming that the two of them made most of this in the last twenty years or so. That means that they could have spent around 70 million dollars on clothing to really be average like the rest of us—to one mind–or they could have just bought similar clothing styles. Should they continue to do this, they would in fact live like people who don’t care about their appearance.
Perhaps you think that the average American should live as frugally as Beyonce’s family by spending some incredibly low figure like .005% of their income on clothing, yet that is too difficult for me. I prefer looking at pie charts as well as percentages to figure out cashflow, like most bankers…
Now recently, I was on The People’s Court with an ex who put me through a lot of difficulty emotionally. He also underspends like Beyonce. He could spend 3.6% of his lowest income ever as a lawyer, which was $150,000 (AT LEAST THAT IS WHAT HE TOLD ME IT WAS) then buy three nice suits a year. These would cost around $2000 a piece: one for the fall, one for the spring, one for holiday. However, instead, since he makes so little, he spends like Beyonce. People think that he doesn’t care about his appearance as a result of being so different than the average United States citizen.