Clothes – what are you paying? How much should we be paying?
The U.S. apparel industry today is a $12 billion business and the average American family spends $1,700 on clothes annually, according to the Bureau of Labor Statistics.
According to award-winning financial planner, Pete Dunn, you should spend 5% of your monthly budget on clothing. To find the exact dollar amount you should be spending per month, multiply your take-home pay by .05. See More
Why do we spend so much on clothes when,
What’s your opinion on spending $$$ for clothes?