Feature

Lifestyles of the Broke and Shameless: Fashion Divas Living Beyond Their Means

Monday Mar 16, 2009 – By Sherri Smith

72459337 With the economy in a full-blown recession and our wallets in a full blown depression, many smart fashion mavens are going the recessionista route. These savvy sophisticates are finding ways to look their best for less, opting to hunt for secret sample sales, vintage vestments, and online discounts. Some of us, however, continue to live in financial denial in a never-ending quest to keep up with the Joneses. Draped in the latest haute couture, they’re spending money like it’s going out of style trying to stay in fashion at the expense of the security of well-padded savings account. Dressed to kill and broker than the U.S. economy, the retail slaves show no signs of letting up, just like the recession.

While a trip to the mall can be fun and exhilarating, especially when there’s a killer sale going on, the retail slave takes things to the extreme, spending every last dime in the name of appearances. And while they might be doing their part to jumpstart the economy, doing so at the risk of handling their b.i. is plain irresponsible. What’s the point of owning the best gear, when you don’t have a place to live because you chose Prada over su casa?

Signs you or someone you love may be living on the edge…of financial ruin.

You have exactly $100 to live off for the next two weeks and an empty fridge, but you’re seriously considering spending (or have spent) your last bit of scratch on those cute stilettos you’ve been lusting after.
Your phone is constantly blowing up leading everyone to think that you’re living a life of rally full of hot parties with even hotter dates when it’s actually the army of bill collectors that have been after you for months.
All right, it’s time to hit the club and show off your smoking moves and hotter outfit, but you can’t get in because a.) there’s no gas in the car or b.) you can’t afford the cover charge leaving you all dressed up with no where to go.
Your friends are bragging about buying their first house or paying off their students loans. You’re absolutely ecstatic about your new Gucci boots while contemplating taking out a payday loan.

If you exhibit any of these signs, it might just be time for you to cut up the credit cards and make an honest assessment of your spending habits.

Joi says:

March 16, 2009 at 8:55 am

I read this article first thing this morning and it really made me laugh because those women exist at my job. They kill me; constantly driving a different car, buying shoes, clothes, and hair knowing that their lights are being turned off any day now. I will never understand the mentality of these women.

↑ Reply

Lianne says:

March 16, 2009 at 3:23 pm

I knew a girl like this once. She was 28, had a credit card with a $8,000 limit (along with several other store cards too) shopped ALL THE TIME. BUT she made $50,000 a year, leased a Mercedes and lived with her parents. She always looked really great but I have to wonder if she is still at mom & dad’s house in debt you know?

Kamika says:

March 16, 2009 at 11:01 pm

I used to live like this years ago. Thank God I wised up. I would hate to be one of those ladies in these financial times.

Edie Ress says:

March 20, 2009 at 8:28 am

Word to the wise: Nothing looks as good as having money feels!!!

Clothing Line says:

March 21, 2009 at 9:54 am

It’s so true – and I love the warning in the comment above. Thinking carefully about the clothes we buy can make our purhcases last a lot longer.

Kassandra Vaughn says:

March 26, 2009 at 12:25 pm

This article is so on point! It’s time everyone did a re-evaluation of the difference between “want” and “need.”

Rilu says:

March 27, 2009 at 2:51 pm

Need I say “Confessions of A Shopaholic” redux? They need to rent or find it and watch the film. Maybe starts their road to self-discovery. I used to spend money I didn’t have (at least it was all debit) but after awhile I learned the benefit in being money-savvy.

Kei says:

March 27, 2009 at 7:30 pm

After reading the article, i think that it is true that there are SOME women that may shop with this mentality. I have no problems waiting until a cute pair of shoes is marked down from 89 to $15 so that i can afford them. Like another reader mentioned, you need to set limits on wants and needs. I own a home, no car note and have some money in the bank but at the same time, I love being a woman and feeling pretty. However, not to say that i dont make sacrifices. I dont buy from the vending machines at work, cut coupons and dont spend money on liquor or cigarettes. I think everyone has a vice, the important thing is knowing your limits. ;)

lexibugg says:

March 31, 2009 at 8:31 pm

i am a shopahaulic, but mom didn’t raise no fool!!!! beside my husband helps me keep my spending in check,he runs the budgeting, he’s great at that, if it was up to me we would be in trouble.