Now, talking about money is a very sticky topic. Some people love to have a chat about it, whilst others despise the subject. Either way, we all think about money every single day.

Money management can be taken from one extreme to the other. From knowing the exact amount of money you have to spend after bills and/or savings, to simply letting the other half deal with it. However, this particular post is about clothes, and everyone needs clothes. So instead of going absolutely mad and splashing out on something as soon as you see it, why not try to be a little more money-conscious?

Budgeting. It can be scary, but it can also do you (and your bank account) wonders! To those who don’t have a clue about budgeting, here’s a quick little run through. The way it works is that you break down your income for the month into the money needed for bills, mortgage/rent, savings, plus any other additional expenses e.g. holidays, car etc. From that, you can see how much spending money you can pay yourself that month.

Obviously this works for different people. If you’re a single guy who lives with his family, then you will probably have more spending money than a family living on one income with childcare costs.

We’ve done our research and gathered some top tips, as well as throwing in a few of our own ways to be money conscious! So give us a read and let us know your top tips!

Sounds self-explanatory, and to some people, it may be; however, having full management of your money is quite the skill. To give yourself a rough guideline of the amount of money you have to spend on clothes, you need to work out your monthly income, minus all the regular payments/ direct debits (examples below) that come out of your account. This will give you your first final sum.

• Rent/mortgage
• House bills
• Phone bills
• Holidays
• Debt payments
• Savings

From there, you also need to work out important and event spends. Sit down with a calendar and work out what events you have that month, from a coffee date to a night out. Assign money to all dates like those and deduct it from your first sum. Lastly, you need to plan for the payments that we all forget. For parents it could be school trips, club fees or clothing for the kids, or other things like fuel for your car, trips to the salon or toiletries you may need. This will give you your final sum. This is your spending money.

You’ll be amazed at how much you actually spend without realising it!

Whilst assessing how much money you’re going to set aside for clothing that month, making a couple of lists to separate your wants and needs will really help you make sure you’re not overspending.

List 1: What are the items you need?

This can involve items such as replacing a pair of washed-out skinny jeans, underwear and socks, an outfit for a big event coming.

Purchasing the items you need have to come before purchasing the items you want. There’s no use in buying a pricey coat to wear when the sole of your ankle boots are falling off!

List 2: What are the items you want?

This includes the coat you saw the other day or that bag you’ve had your eye on for ages. The first trick would be to see if you can find a dupe (similar) item. If you can’t or you don’t want to, then putting a certain amount aside each month to save for it would be the best money conscious way to purchase a more expensive item.

Now, before you spend your money on clothes that you’ve seen out and about or online, try and think about how many outfits you can make from that piece with clothes you already have. We all know the drill. We buy a gorgeous top or a smart shirt, take it home and realise we don’t have any bottoms, any shoes or the right jacket to go with it, so we end up spending even more money to make the outfit work.

Say you have given yourself £100 to spend on clothes. Having a ‘per item spend limit’ can help you be more money conscious and less frivolous with your spending. £30 - £40 per item is our cut off. This will get us some jeans, a couple of jumpers or a few t-shirts! However, it’ll stop us splashing out on a bag or coat we don’t necessarily need. So think about the average cost of items you regularly buy and think of a ‘per item spend limit’.

So there you have it, our quick run down to help you see your money in a different light and shop in a budget-friendly manner! We’re not experts by any means, but here at MandM, we thrive on budgeting and love love LOVE shopping! Make sure to check out our site for big brands at low prices, we may have that coat you want!

Have an unexpected event coming up? Shop smarter, not harder with Klarna, which allows you to buy now, pay later! Klarna is now available on our website. Choosing Klarna when shopping allows you to either pay in full up to 30 days later, or split the cost into three, with the first payment on checkout and the remainder in two equal monthly instalments (subject to status and checks).There is no interest or fees when you pay on time, which makes budgeting that much easier. For further information, see www.mandmdirect.com/02/stp/klarna. Please spend responsibly.

Alternatively, you can pay in 3 interest-free payments on eligible purchases with PayPal. It’s our newest option at checkout, giving you the ability to spread your PayPal purchase into three equal instalments, with the first due on checkout and the remaining two payments on the same day in the following 2 months. Simply checkout with PayPal and choose Pay in 3 to apply. PayPal Pay in 3 is a form of credit, so consider carefully whether you can afford the repayments in order to avoid late fees and possible impact to your credit score. Subject to status and checks. For more information please see www.mandmdirect.com/02/stp/paypal-pay-in-three.

**MandM is not a lender and acts only as an introducer. The credit product is provided by Klarna Bank AB (publ). Credit is only available to permanent UK residents aged 18 and over, depending on their status. Terms and conditions apply. Please note that Pay in 30 days and Pay in 3 instalments are not regulated by the Financial Conduct Authority (FCA).

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