Before we discuss how much you should spend on clothing and good budgeting practices, I want to tell you about my current personal finance ick…this shame-y culture that tears down others for the way they dress. “You look like a millennial if you wear short socks, skinny jeans, etc.”

I don't know when the millennial hate started, but giving people a hard time for the way they dress is giving, "Eww, you're poor and need to buy new clothes," high school mean-girl vibes. No one should feel pressured to buy new clothing, ever.

It reminds me of the Abercrombie/Victoria's Secret PINK era when L Brands monopolized every mall in America. At Abercrombie's peak, every marketing campaign was centered around the idea that the brand was “exclusive" and only “cool kids" wore it. When PINK launched, marketing executives chose the phrase "FOMO" to embody the teen brand. Both companies built their success by increasing teenage insecurity. If you wanted to be “cool” and “included” back then, you felt pressure to spend all your money on an overpriced graphic t-shirt.

Feeling like you have to buy new jeans so no one teases you is a bad feeling, and it’s also bad for our budgets. It can lead to impulse shopping, going over our budgets, or worse…racking up credit card debt.

Reasons to Buy New Clothes

Let’s quickly discuss our mindsets about buying new clothing before getting into the numbers because, as I always say, money is mental AF.

Why do you want to buy new clothes? Is it because you’re starting to notice holes in your socks? Or maybe you’ve gained or lost some weight, and your clothes just don’t fit the way they used to? Or maybe you just have been eyeing a new pair of jeans for months and can’t stop thinking about them! Those are all valid reasons.

If you want to buy new clothes because someone said, “You can tell you're a millennial if you're wearing ankle socks,” but you LOVE ankle socks and are not a fan of crew socks…step away from the online checkout and reevaluate if you really want to buy new socks because someone said the ones you bought last month aren’t cool anymore.

Millennial Fashion Stereotypes

I really thought we were done with this kind of “you're not cool unless you wear this” culture. I LOVE A GOOD JOKE (my first date with my husband was a comedy show), but seeing people annihilate others by saying they “look like a millennial” because they wear a specific article of clothing isn't all in good fun anymore. It makes people feel bad about themselves and pressured to buy a new wardrobe, even if it's out of their budget.

Maybe I'm overly sensitive and always on high alert for others being bullied because I was bullied for so many years of my life, specifically for wearing the same clothes to school every day (among other things). It was a HORRIBLE feeling and entirely out of my control because my mom couldn't afford to buy me anything. 

The trend is not fun or cute when it makes people feel genuinely bad about themselves. And you can, of course, argue that people should be able to wear whatever they want. I TOTALLY AGREE! But some people have been desperate to fit in their whole lives, and this doesn't make it any easier for them. And you can also say not to care what others think. I also agree! But some people struggle with confidence and what others think really affects them.

“You can tell you're a millennial if you're wearing ankle socks. You're supposed to wear tall socks now...lol, NOT THOSE...you're showing your age.”

“Skinny jeans aren't cool anymore. Loose jeans only. Those? UM, NO…Do you see how high the waist is? They're supposed to be low-rise.”

And if you do participate and wear what's in style, you get asked, “What are you wearing? Are you trying to be Gen Z?”

It's a losing battle! Like, c'mon.

How Much Do Millennials Spend On Clothes?

According to the US Bureau of Labor and Statistics, millennials spend more money on clothing for themselves and their children than any other generation! This stat makes me wonder if it’s actually millennials ragging on other millennials for the way we dress. As Tina Fey would say, “looks like there’s been some girl-on-girl crime,” or rather, millennial-on-millennial crime.

Or is this some weird retail marketing tactic that has been injected into our brains without us realizing it? We've known about fast fashion for years and how retail companies have created 52 seasons with new styles every week to get consumers to buy more. But could fashion brands be using old marketing techniques to instill a sense of inadequacy if we don't buy a new wardrobe just to avoid a cyber attack?

Whether it’s millennials attacking one another or a weird marketing tactic, let’s go into the numbers of how much millennials spend on clothes.

Millennials spend an average of $172.50 on clothing and shoes a month, with millennial males averaging $318.45 a month and millennial females averaging $199.17 a month. American consumers (all generations) spend an average of $134.70 on clothing and shoes a month.

How Much Should You Spend on Clothing?

At one point in my life, I was neurotically tracking every penny. And while I think this can be good for a bit if you need to get a grasp on your spending, ideally you get to the point where you end up grouping all the extras (things you don’t need, but want) into one category bucket, like a “fun” category. Some months you wants to splurge on a really nice dinner with your boo thang or besties and other months, you’re putting your extra cash towards a mini shopping spree. We aren’t robots so the fun things we spend our money on changes month to month.

A good general rule of thumb for single people is to allocate around 10% to “fun” and those with children around 5%.

Now, if you are spending so much on clothing that it’s not allowing for you to do anything else month after month and are looking for a hard number to stick to, I would say to spend no more than 5% of your monthly take-home pay on clothing (yes, that’s after taxes).

Let’s use the average millennial salary, which is $52,156 (according to the US Bureau of Labor and Statistics) for this example. After taxes, your monthly take-home pay is $3,657.

$3,657 x 5% = $182.85

If your monthly take-home page is $3,657, you should spend no more than $182.85 on clothing each month, or $2,194.2 a year (take your monthly clothing budget and multiply it by 12 to get your yearly spend).

How to Stop Spending Money on Clothes

If you have fallen victim to purchasing a new outfit to fit in and haven't been too happy with your spending habits as of late…have you ever heard of a no spend month?

Okay, give me a second here. It's not what you think it is.

First, you're still paying your bills and buying necessities like groceries, gas, and toiletries. But you aren't spending any money on anything extra. No daily starbies, monthly manis, or impulsive shopping. Think just the basic needs: water, food, and shelter. It's kind of like that Whole 30 cleanse you do but for your money.

Second, people tend to associate a “no spend month” with restriction. But it's not about restriction. It's about your money mentality, reflecting on your spending habits, and getting clear on your goals. 

No spend months can benefit everyone. When you take a step back from spending on extras, you start to gain clarity on what you actually value and what's actually worth spending your money on. 

Even if you are a total budget baddie and always live below your means, a no-spend month can make you realize you want to reallocate funds you normally spend on clothes (or whatever it may be) and start spending that money on travel, going out to eat, or, dare I say…investing for future you? You realize you don't actually need or even sometimes want that stuff you've been buying.

If you are looking for a little mental reset from spending habits, try going 30 days without swiping (or tapping) your card for extras. Fall victim to online shopping? Try removing your stored cards from your phone and frequently visited sites to help make the spending detox a little easier.

Wrapping Up

Instead of judging people for their clothing choices, let's celebrate the diversity and individuality that fashion brings. It's 2024, a time when we embrace and respect everyone's unique style, regardless of their financial status.

Before buying a new outfit, make sure to take a look at your monthly take-home pay and calculate how much you can actually afford to spend on clothing. If the outfit is more than what fits in the budget, set aside money each month in a high-yield savings account until you have enough money to buy it.