The best advice no one ever gave me

[Smye 695]

Get a credit card.

Get a credit card from a store that sells clothing. Clothing you like. Even if they don't carry anything in your size yet - it won't be long.

Use that credit card - pay it off quickly each month and use it only in place of purchases you were already going to make. Just be sure that you make every purchase you can through that card rather than cash, check, debit, etc. Go out for drinks? Use the card. Buying new tires? Use the card.

It turns out that buying a new wardrobe every month or so during the weightloss phase is ridiculously expensive and that having oodles of store credit at, say, Old Navy or Macy's is an incredible boon.

EDIT: Do be sure to read the fine print before signing up for any credit card or other financial 'boon.' I'm not advocating blindly walking into "FREE CLOTHES FOR LIFE???" schemes.

Edited December 22, 2015 by Smye

[Champ715 207]

This actually seems like pretty terrible advice. If you can't afford to buy new clothes with the money you actually have, maybe don't rack up "oodles" of credit with terribly high interest rates.

[Smye 695]

@, hence they 'pay it off immediately each month' bit. But good point - I am in no way advocating spending money you don't have folks - just a way to get free clothes by spending the money you're going to spend anyway.

[WLSResources/ClothingExch 3,444]

"Oodles" of store credit comes only to about 2% max of what you've spent. The high point/credit number is deceiving. If the value were expressed in real terms, you'd see. I do use points that I get from the card I use primarily for Amazon purchases, but they don't make all that much difference in the scheme of things. I'm saying this only because the uninitiated may expect much more than is given in dollars.

Edited December 22, 2015 by WLSResources/ClothingExch

[CowgirlJane 14,261]

We all have our strategies - I hate store cards so I look for other ways to get in their rewards programs

Discount stores like TJ MAxx and Ross where life savers during the weight loss phase. Now that my size/weight is stable, I shop more at Nordstroms rack, Macys etc. but I don't really buy crudloads of clothes anymore. I have developed a shoe and boot... obsession but I need to keep my options open, never know where you will find that perfect boot in a color or style I don't already have.

[Smye 695]

@@WLSResources/ClothingExch, with Old Navy I end up getting roughly 10%, granted I've had that card since I was 16... so perhaps the rates are lower now.

And thanks for the advice for those who may not read the fine print - perhaps I assumed too much of the credit-literacy of my peers.

Edited December 22, 2015 by Smye

[Smye 695]

I also use it for things like my mortgage... so even 2% comes out to sufficient to keep clothes on my back free of charge.

[Miss Mac 6,262]

I use a card that gives me 5% back on my purchases annually. I do not spend more than I can pay off in a month, but I put as many purchases (that I was going to make anyway) on that card so that I can get that benefit. As often as I can, I buy what is on clearance or a great sale. Most of my online clothing was purchased from places that give away a free item with any purchase over a certain amount. I did my Christmas shopping for the adults this year with free merchandise.

[AvaFern 3,516]

I don't think this is bad advice at all, particularly since you noted that you pay it off every month which gives you all of the benefits and none of the interest. I don't love most store cards because the interest rates are high, so like at Home Depot, I spend $300+ and you get 6 months interest free financing automatically. I used that card recently to build myself a new closet, hehe. I do however have a store card to a place I shop at to the tune of a few hundred dollars at least a month because not only do you get additional percentage off of orders multiple times a month, but you also get access to better sales. So, while most months I pay the full amount off with cash, I save a whole lot of money because I use the card and I use their sales. As an example, this week over the course of a visit to the store and a few online purchases I ended with 3 new skirts, 2 new dresses, 2 new coats, several pieces of jewelry, 3 sweaters, and 6 tops..the retail for all of those purchases is around $900. I combined their store sales, with their email discount, and added in an extra 10% for being a card member and my final price for all of that was roughly $220, give or take about $30. So sure, while $90 saved as an add on to a few hundred dollars saved from coupons and sales that customers without cards have access to isn't really that much, given I shop at this store a lot, that 10% they offer a few times a month combined with other perks of the card totally save me a TON of money.

As such, I agree...a credit card to a store you love when you will shop a lot, when you can pay it off every month, and where you get good perks for being a card member is an excellent way to save money.

[ProudGrammy 8,322]

credit card from a store that sells clothing. pay off quickly each month

@@Smye

i don't think your comment is bad advice

you said it, so it has to be good !!!

i agree you should immediately pay bill off end of month

if you are not able to pay the bill off by months end, you should not buy

all you financial wizards already knew that

@@Smye - i keep seeing "less and less of you"

180 lbs gone, gone, gone!!!

party dance - party dance

keep up the good work for the rest of your healthier, happier, longer life

kathy

congrats

[LoveMyBypass 251]

I think this is great advice..

When you use a store card, you get a certain percent off your purchase just for using it. When you go to the store you buy clothes, assuming you have money, you pay off what you used right then and there. At Macy's you get a percent off and save money. Then you use the money you were supposed to use to pay off your card. I do it all the time.

Maybe that is what was meant with free clothes? hehehe