Whomever coined the term "investment dressing" certainly didn't understand fiscal fashion. You don't make your money going into the dressing room -- you make it emptying out the closet.So that is why this week, I am combing through my closet with a fiscal -- as opposed to fashionable -- eye.
In the past, I have taken my gently worn clothes to Goodwill and or Hope's Closet and gotten a tax receipt for my clearing-out efforts. But this past fall, my friend Kristi introduced me to consignment stores -- not as a buyer, you see, but as a seller. In November, I trundled 25 fall and winter wearables --from slacks and skirts to dresses and sweaters -- up to her favorite consigment store. In exchange for my wearable goods, I was given a receipt and phone number in which to call two months in the future to see how much money I made by having them sell my clothes! Well, of course, I now no longer need to be altruistic with my designer and designer-like duds! I will find out tomorrow how much cash my clothes garnered...and I already have several savvy spring ensembles ready to head north to find new fashion friends.
I used to take the kids' clothes to a local consignment shop, but I didn't feel like the clothes got the proper respect. So I stopped. Sounds funny, I know. But some of these dresses had smocking or lace detailing and I decided I would rather pass them along to neighbord friends who would wear them and then pass them on again than get $3-$4 for what was once a $40 holiday dress. It is much more fun for me to see a wonderful dress worn by two of her daughters my girlfriend handed down to my daughter be worn in turn by Katie, then her sister, Claire, then passed on to Faith, then her sister, Emma, then on to Meredith's daughter. That is better amoritization.
Besides, adult consignment shops pay a better percentage!
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