It’s the dreaded ‘R’ word, it makes our skin crawl and it’s leading to depression. Though the situation is more or less under control, it’s advisable to join the intelligent side and follow these tips for a happy wallet and happy closet.

1.    This has been said more times than ‘smoking is hazardous to health.’ Don’t use credit cards while shopping. This makes you ultra free and you end up going with the strong flow of shopping. Always use cash or debit cards. Having a defined budget is also important.

2.    Keep your eyes peeled for sales and discounts and owning to recession, there are many. Also mix and match your street wear with high end accessories.

3.    Invest in classic pieces which will never go out of style. 70 percent of your closet should incorporate this. Buy black trousers, black skirt, a white t-shirt, basic well fitted tees and the like. Invest in neutral colors like white, black and camel. Red is another favorite.

4.    Learn to sew and fix your clothes. This saves you money plus makes your clothes wearable again! Learn to fix holes and minor alternations.

5.    Try to save a little each month and invest. Ask your bank how you can invest in mutual funds.

6.    Have a swap party with friends. Everybody gets a few items of clothes, rarely used by them to swap with someone else. Using this method, you get a brand new wardrobe without paying anything.

7.    To earn some extra cash, try selling the items you can do without/do not need. This helps you clean out, earn cash and enables you to buy stuff you really need! Weeee.

8.    Have a separate shopping account where you only put a specified amount for shopping. Always use this account for shopping and stop when the moolah in it is over. This helps you keep a budget without overspending.