Sunday, May 24, 2009

Reality Check #3: Should You be A Recessionista?

If you haven't heard, rich in today's context is no longer the millionaire whose assets are valued at $1 million. A growing phenomenon of hectomillionaires (net worth of hundred and more millions), and billionaires (net worth of one or more billions) in the past decade has made millionaires or multimillionaires (net worth of a few millions) just middle-class millionaires. So how can people who are not even millionaires stay even with the high rollers of the fashion ladder?

The reality is: It may never be possible for most middle class to upper middle class citizens to stay even with the high rollers of the fashion ladder without being in financial debt or sacrificing some of the other nicer things in life. Unfortunately, the economic principle of opportunity cost holds true in almost every context.

So if it never crossed your minds to become a Recessionista, think again. Unless you are a trust fund baby, or a multi-millionaire who has an endless supply of money that can last a lifetime, there isn't any reason why you can't shop smarter to get the biggest bang for your buck. Agree?

If you still don't know the definition of Recessionista, a Recessionista is someone who develops a distinctive and unique style using low-cost but still fashionable items. This involves rethinking fashion, and coming up with new ways to dress stylishly. It may seem tough at first for many of you Fashionistas out there, but it gets better and fun at the same time after awhile. I am doing exactly that now; which is why I Am Recessionista! If you don't know where to start, ask me. I will be glad to help!