Advertising
Advertising

9 Ways to Organize Your Wardrobe Better to Save Money

9 Ways to Organize Your Wardrobe Better to Save Money

Holiday season is always a good season to buy clothes. Not only is everything on sale but it’s exactly what you wanted. Right? Come holiday season, there may always a reason to buy more clothes, or shoes, or earrings, or purses, or socks. But do you really need yet another pair of green socks? Do you really? Well, maybe not. Here are 9 ways to organize your wardrobe well to save money and look your best!

The Wardrobe

1. Compartmentalize it

Most, if not all things in your closet must have a place to belong. Shirts, t-shirts, dresses, socks, lingerie and even head gear. Keep a separate corner or shelf for all your different types of clothes. This helps you keep track of what you have, the types of clothes you have and how many you have.

Advertising

2. Color Code it

Color coding is perhaps the best way to organize a closet and actually have clothes to wear. Color coding your wardrobe enables you to see which colors you have and how many types of outfits you have in those colors. So next time you go out to buy yet another black dress, you’re perfect sorting will serve as a reminder for whether you actually want that dress or not!

3. Hang your purses

Hanging your purses is perhaps the best way to keep them. Hanging them allows you to see them all and use them all, too. It also saves precious self space that can be used for other things!

Advertising

4. Keep your jewelry in separate drawers

It doesn’t hurt to invest in or make a jewelry container. Pinterest and DIY blogs have plenty of ideas for easy and cheap storage of your jewelry. Arranging your jewelry saves time, energy and effort when you’re looking to wear it and also keeps your jewelry in better condition for longer.

5. Separate Pairs

Clothing that comes in set pairs is great the first four times you wear them. After that they seem to be the only outfit in all your pictures. Separate them. Separating these outfits gives you a new perspective on them and enables you to mix and match these clothes with other pieces in your closet. Mixing and matching them reinvents your wardrobe multiple times so you don’t have to buy more clothes.

Advertising

6. Divide in Daily and Party Wear

This is perhaps the best time and money saver option. Dividing your clothes based on occasion helps you mentally sort out your clothing according to the occasion. This in turn helps you mix and match them better and serves as a reminder of all your belongings. Dividing them also allows for you to see what you need to get and what you have.

7. Use Hangers

As obvious as this may sound, hangers are a good way of seeing all your clothing as separate and distinct pieces. Use scarf hangers not only for scarves, but also for socks and jewelry. Investing in some velvet hangers for your expensive clothes and some pant hangers will save you space and also help you keep a check on all your clothes.

Advertising

The Fashion

8. The Occasion

What is the occasion? Is it a family dinner, lunch with friends or simply an evening at a bar? Look through your closet and mix and match something you’ve never worn before. If you’re uncertain, try it out something else. It may take a little while, but there will definitely be something in your closet that you’ve never paired together that may actually be the perfect outfit!

9. Shake it up

Are you usually chic? Try classy. Shake up your style and try a different look. Wear that pair of boots that have been sitting in your closet for three months. If you don’t know where to start, pick one piece of the outfit and then work around it. It could be shoes, jewelry, the top or the bottom and then find an outfit that complements your piece of clothing/accessory.

Featured photo credit: Liz via flickr.com

More by this author

Sanah Rizvi

Sanah is an influential public speaker and a devoted advocator of female rights.

32 Things You Should Be Grateful For The Unwritten (Now Written) Golden Rules of Friendship Top 7 Things Managers Look For What My Introverted Best Friend Taught Me 13 Truths You May Not Know About Domestic Violence

Trending in Money

1 How To Pay Off Credit Card Debt Fast: 7 Powerful Tips 2 How To Make a Million Dollars in 7 Steps 3 7 Cheap but Powerful Products That Can Help Your Waste Less Food and Save Money 4 How To Retire Early (And What To Consider Before You Do) 5 How To Create a Budget (The Complete Beginners’ Guide)

Read Next

Advertising
Advertising
Advertising

Published on January 8, 2021

How To Pay Off Credit Card Debt Fast: 7 Powerful Tips

How To Pay Off Credit Card Debt Fast: 7 Powerful Tips

Ever wondered whether your credit card debt is the reason you’re in a bad financial situation? You can’t enjoy any fun activities because a good chunk of your money goes toward debt payment. Heck, you’re even behind on some of your monthly bills.

The effects of clumsy debt management are too many to list here. This guide is going to help you discover how to pay off credit card debt fast and start chasing your financial goals.

Debt problems are the last thing anyone wants to encounter. But things can get out of hand when all the “little debts” you take accumulate in interests.

What if you knew some simple and proven ways to be debt-free quickly? Implementing them would mean better financial health for you. It becomes possible to free up cash for your “wants.” These include taking a trip or buying something you’ve always desired. All that while paying your bills on time!

Let’s not wait any longer. Here are 7 powerful tips for paying off credit card debt fast:

1. Pay More Than the Minimum Credit Card Payments

Many people only pay the monthly minimum on their credit cards. Truly, that’s the right amount for staying on good terms with your credit card company. But you need a different approach if you’re looking to achieve financial independence within a short time.[1]

Most of your payments go toward interest costs when you only pay the minimum amount. A substantial sum of your balance remains standing. As a result, it becomes more expensive to eliminate your debts.

Advertising

You don’t want to wait more than 10 years to get rid of debt while it’s possible to do it sooner. All you have to do is double that $100 minimum payment to $200 or go higher.

The good thing is that minimum credit card payments are affordable in most cases. By paying a higher amount, you reduce your interest costs, lessen your borrowing period, and boost your credit score.

2. Start With High-Interest Credit Card Debt

If you have more than one credit card debt, prioritize putting the extra money toward the ones with the highest interests. This debt pay-off strategy, known as the debt avalanche method, is essential for being debt-free quickly.[2]

First, you need to list down all the credit card debts you have in the order of their interest rates. Next, you choose the one with the highest interest and pay a significant amount toward it each month. It can be an amount twice or even thrice larger than the minimum payment.

At the same time, you make monthly minimum payments on the other debts. Their interest charges won’t be as costly as that of the first debt on your list. You only move on to the next high-interest debt after the first one is gone. Remember that your focus is on the interest rates and not the balances.

3. Revisit Your Budget

Budgeting is useful for tracking your financial moves. Once you create a budget, some tweaks along the way can make it work for you better. One situation that requires you to revisit your budget is when you’re struggling with debts. It might hurt a bit to slash some expenses. But you also don’t want to miss out on achieving financial freedom in the long run.

You can reduce some variable expenses to free up more cash for credit card debt payments. They’re the ones that change from time to time. Some examples are groceries, fuel, and clothing.

Advertising

Other opportunities for cutting down your spending lie in non-essential expenses. Instead of dining out all the time, you can cook at home more to save money. You can also share some subscriptions with friends and pay a fraction of the cost.

If you’re determined enough, you can eliminate all your unnecessary expenses and focus on paying off your credit card debt first.

4. Avoid Using Your Credit Cards

Do you want to know how to pay off credit card debt with a low income? One simple way is to stop using them. Having your credit cards everywhere you go means that you’ll be more tempted to buy unnecessary stuff. In this case, you spend money that you don’t really own and get deeper into debt.

The quickest fix to stop the debt build-up is spending with cash. You’ll be more aware of everything you can afford at any particular time. If you decide to keep one or two cards to ease the transition, always make wise choices. For instance, only use them when experiencing financial difficulties.

It’s best to categorize your fun activities under “discretionary spending” in your budget. This way, you won’t need more debt to kill your boredom. By halting your credit debt from accumulating, it’s easy to pay down what you already owe and be happy with the progress.

5. Start a Side Hustle to Boost Your Income

You’re probably turning away a lot of money by not monetizing your skills. Everyone has something that they’re good at doing. And you can use that to generate extra income for attacking your credit card debt.

If you look around your neighborhood, you can find several side hustle opportunities. It can be pet sitting, tutoring, or lawn mowing. You can start an online business by offering services such as digital marketing, content creation, and web development. Such skills go in high demand on freelance sites and job boards.

Advertising

Finding clients on social media is also a good strategy to utilize your skills and make more money. Facebook groups, Quora Spaces, and subreddits are some places to look for side jobs. You only have to join a niche-specific platform, share your services, and respond to any opportunities.

It’s possible to learn a skill, practice it, and earn from it. Use the free resources online or purchase some e-courses to get started.

6. Sell Your Used Items for Extra Cash

Starting a side hustle isn’t the only way to generate extra money. You can turn unwanted items into cash for paying off credit card debt. Whether it’s an old TV, book, or furniture, there is always someone itching to buy your used stuff.

A garage sale, as much as it’s old-fashioned, is perfect for getting your neighbors and passers-by to buy from you. You keep all the money because there are no business permits or taxes involved. While you may not make much cash, it’s better than leaving your stuff to go defunct in your storage.

Other than that, you can sell your used stuff on online marketplaces. Facebook groups are great places to start if you want quick approvals and hence sales. You only have to ensure that your listing follows Facebook’s commerce policies.

When selling any pre-owned items online, ensure they’re in good shape to avoid problems with your buyers.

7. Know When to Seek Help With Your Debt

Asking for help with your credit card debt can be challenging to do. But letting it drown you is a road you don’t want to take. While you may feel embarrassed at first, it’s the best way to get back on track when you run out of options.

Advertising

There are tons of non-profit credit counseling organizations that can offer you free guidance on how to escape the debt trap. An example is The National Foundation for Credit Counseling. They simply review your finances and help you determine the source of your financial problems. After that, they match you with an actionable debt management solution.[3]

In extreme cases, the debt solution can be:

  • Debt relief – where your debt is partially or wholly forgiven
  • Debt consolidation – taking out one loan to repay others
  • Debt settlement – the creditor forgives a significant portion of your debt
  • Bankruptcy – legal process for seeking relief from some or all your debts

It’s necessary to carefully weigh your options before deciding on the way to go. Find out how it might affect your credit score and any other risks.

Wrapping It Up

Debt is a major setback when you’re trying to prosper in life. Paying off credit card debt is essential if you want to reach your financial goals. That means having more free income, a good credit card score, and even a chance to retire early. You become more productive each day because of the peace in your mind.

So, you now have some tips on how to pay off credit fast. Go ahead and get rid of that good life progress killer!

More Tips on How to Pay Off Debt

Featured photo credit: rupixen.com via unsplash.com

Reference

Read Next