The urge to splurge now comes with an even heftier price tag.

How much do you spend on clothes? Or rather, how do you spend money on clothes? Your wardrobe, over time, is a considerable investment; yet also one of the least profitable and most problematic. 

Lifestyle shifts, body changes, and limitless trends conspire to trip us up, perpetuating an endless cycle of buying and replenishing. In today’s climate of rising energy costs and inflation, the urge to splurge now comes with an even heftier price tag. Thankfully, with a little know-how, you can beat the market and avoid negative wardrobe equity. The best bit? You may not have to spend much — if anything at all. You want in? Then open your closet to some insider trading.

Before committing any hard-earned cash to update your wardrobe, try maximising the potential of what you already own. By considering your closet as a boutique — and merchandising accordingly — you can manage stock levels and avoid overbuying. Here’s how. Group garments according to type (jackets with jackets, trousers with trousers and so on); silhouette (midi, maxi, short lengths) and finally, colour. In doing so, you can easily determine your shopping default (10 long black coats, 14 pink mini dresses and no trousers?) and fill the gaps where necessary. What’s more, merchandising your wearable assets in this way helps visualise new and creative outfit combinations more easily.

Although it’s easy to get tempted by a delicious designer ‘must-have’ or, conversely, bags filled with cut-price swag; diversification is key to a well-maintained wardrobe. Allocate your spend (only five per cent of your monthly income) among different asset classes — staples, basics, trends and investment pieces — focusing on pieces that serve your current or projected needs. A PE teacher and mother of three may get more from may get more wear from tracksuits and sneakers she wears daily but will get an equally solid return from a classic black dress and a pair of heels worn less frequently. Lifestyle is key, but life events (christenings, funerals, work events) happen too. Don’t get caught out.

Here’s the thing: not all clothes are created equal. Some are deliciously decadent, warranting special occasions; others are there for the long haul until death (or moth infestations) do us part. In an age where tightening one’s belt is forecast as a long-term trend, harnessing the power of separates means getting more bang for your wardrobe buck. The formula is simple. Divide the cost of a garment by the ways it can be worn. A quiet sweater vest worn with a leather skirt, jeans and a shirt, a blazer and trousers or over a dress can net a higher yield than a more gregarious piece. Investing in thermogenic fabrics like wool, alpaca or cashmere fabrics is more energy efficient than synthetic counterparts, staving off insidious end-of-year heating bills. Exciting? Maybe not, but neither is hovering over a Superser heater with a hot water bottle.

4. SELL UNDERPERFORMING STOCK (AND REINVEST!)

We’ve all been there: those nights when wine meets Wi-Fi and bad decisions are made. A few days later, those forgotten online purchases arrive at your door, only to be stashed in the back of the closet and forgotten about. You can’t undo the damage (especially if you’ve lost the receipt) but you can learn — and profit — from the experience. Remove all underperforming stock from your closet. Assess why you haven’t worn it and the likelihood of ever wearing it again. Anything that warrants a raised eyebrow, look of confusion and/or shame gets resigned to a ‘to be sold’ pile. Anything with promise may be returned to its hanger with a view to monitoring its performance after a set period. Should it fail to yield significant wear time, sell it along with any other underperforming stock — ideally, gently worn or new with tags. Try resale websites like Depop, Etsy and Facebook Marketplace or consignment stores like Cork’s Naphisa and Luxury Exchange. Any money made can be reinvested — wisely — into a more considered wardrobe purchase.

So, you’re mindful of what you’re spending but are you aware of what’s eating away at your closet? Wire hangers! Ah, yes; not only do they leave marks on and misshapen the shoulders of shirts, blouses, dresses and jackets, but they also have the potential to snag and damage delicate fabric and leave permanent marks and unsightly wrinkles on trouser legs. When found in the company of plastic covers from the dry cleaners, they cause discolouration, mildew and mould damage. Instead, opt for wooden or velvet iterations according to the weight of the garment or clamp style for trousers and skirts. As for your dresser drawers, lavender sachets or cotton balls dipped in lavender essential oils help keep away hungry moths from chewing holes in expensive cashmere or wool knits. Keepsakes and beloved clothes should ideally be stored somewhere cool and dry and — if possible — in an acid-free environment. Simply line the inside of any storage trunk, basket or drawer with a chemically inert barrier sheet like polyester felt or pH-neutral tissue — easily available on Amazon. Don’t forget bags which should be kept out of direct sunlight. Ditto for shoes, ensuring there’s enough breathing space between each pair.

Although dry cleaners, shoe cobblers, and alterations centres are the backbone of a well-kept wardrobe, there’s much we can do on our own. Aside from regular laundering, spot washing and ironing, having a repair kit to hand can be the difference between looking put together or falling apart. At a minimum, stock up on shoe polish and cleaner; suede and leather protector; a mini sewing kit for repatriating buttons and Bondaweb for rescuing hems. Equally handy: a lint brush to remove airborne detritus and a fabric comb for debobbling sweaters. 

Hand steamers may seem like an excessive expense, but they come into their own when maintaining the health of your wardrobe. Not only do they eliminate wrinkles while being gentle on fabrics, but they also help kill the bacteria that cause odours, eradicate allergens (think dust mites, pollen and moth larvae) and can remove stubborn pre-treated stains.

Low on cash flow? Don’t underestimate the power of accessories. What appears to be trinkets are, in fact, veritable amulets of change. Not only do they provide a low-commitment approach to tackling trends; their cost-per-wear ratio is legendary. Use these small wins to introduce colour, print and personality and to transform an outfit from basic to basically amazing. 

Scarves, jewellery, belts, gloves, hats — anything that pulls the old switcheroo and makes people think they haven’t seen the same outfit twice is a keeper. A silk neckerchief (I get mine from charity shops) can transform from a boho bandana to a bougie bag tie, while a cluster of brooches can decorate a bare lapel. Try a bright pair of socks with this season’s chunky loafers or create an Annie Hall moment by pairing a menswear tie and vintage fedora with a classic white shirt and waistcoat.

& Other Stories – www.stories.com

H&M – www.hm.ie

Lucy Nagle – www.lucynagle.com

Sostrene Grene – www.sostrenegrene.com

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