Clothing is not optional, but spending a lot of money on it is, says author Gregory Karp in his book “Living Rich by Spending Smart: How to Get More of What You Really Want.”
So, just off the top of your head, how much would you say that your family spends on clothing in a year? According to the U.S. Consumer Expenditure Survey 2018, a “consumer unit” (people who live and spend money together) spent on average $1,866 a year on apparel and services such as dry cleaning. Wow. That’s $155 a month—which is a significant expense in any family’s budget.
