In this insightful episode of PennyWise, host Nat Cardona sits down with WalletHub's financial expert, Adam McCann, to tackle a common question: how much should you budget for clothing in 2025? As clothing prices continue to rise, Adam breaks down the average annual spending on apparel, revealing that households typically spend around $1,945 on clothing each year. However, he emphasizes that this figure can vary widely based on personal needs and lifestyle.
Listeners will discover practical tips for saving money on clothing, including the importance of shopping during sales, utilizing coupons, and understanding the difference between 'needs' and 'wants' in their wardrobe. Adam also discusses the benefits of investing in quality pieces that last longer, as well as savvy shopping strategies like buying off-season and exploring thrift stores or community clothing swaps.

Additionally, the episode covers the advantages of using the right credit cards for clothing purchases, highlighting how rewards and cashback options can maximize savings. Adam stresses the importance of managing credit wisely to avoid interest charges that can negate savings from rewards.

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For more insights on budgeting and saving, check out WalletHub's resources at WalletHub.

Show notes created with assistance from https://headliner.app