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Fashion 263

Over the past few weeks, international fashion designers have been showing off their spring/summer 2023 collections at fashion weeks across the world, giving us a glimpse of the hottest trends.

We’ve picked out three to look out for this summer. Lime is this season’s must-have colour and it’s starting to pop up in fashion stores. The Pantone Color Institute predicted that Love Bird, “an exotic green with a lively character”, was the colour to take note of.

Whether in subtle tones or uber-neon brights, it certainly cannot be missed.

We saw the refreshing tone at the Versace show, worn head to toe in silk and lace, while Fendi used the shade on their gowns. Other designers who featured the hottest colour were Micheal Kors and Brandon Maxwell.

You’re probably rolling your eyes and wondering: “Fringes? Again?” Yes, fringes are a thing and won’t be going away any time soon.

This season, it’s more in your face than ever before. Designers have gone all-out with the trend, with super-size woven or knitted fringes, longer-length skirts and dresses with long fringes and evening gowns with layers of ‘20s-inspired fringes.

Proenza Schouler, Jil Sander, Ulla Johnson, Micheal Kors, Khaite and Bronx and Bunco are among the designers showing us how to wear fringes this summer.

Another trend that might not be groundbreaking but constantly makes an appearance on the runway is barely there sheer. And who doesn’t want to wear light, dresses and tops during the hot summer days? 

Throw on a sheer slipdress over your shorts or a see-through tank top over a bikini-bra for a laid-back casual and comfy style.

However, here is also how to kickstart 2023 with a spending plan

A spending plan sounds so much more appealing than a budget.

The words we choose to describe the often-challenging requirement of good money management may just be a deal maker or breaker.

Especially with the expenses of the festive season and a longer time between pay cheques, many South Africans are likely to experience the financial challenges of ‘‘JanuWorry’’, says Farzana Botha, Segment Solutions Manager at Sanlam Savings.

Consider the fact that 70 percent of South Africans running out of money before month end (based on a recent Sanlam survey), and just 18 percent able to stick to a spending plan, and it’s clear that the realities of the festive season may prompt many to rank ‘‘better money management’’ as a top new year’s resolution.

How to save money when grocery shopping

Creating and sticking to a budget is the foundation of financial wellbeing, so why do so few of us get it right?

Farzana Botha, Segment Solutions Manager at Sanlam Savings, says it starts with re-framing your money mindset.

“A budget may carry negative connotations of limiting or depriving us. Understandably, we are unlikely to stick with something that feels like a chore. Reframing our mindset from a budget to spending plan instead, may be the right way to positively shift our attitudes toward financial well-being.”

Botha shares five steps for a financially savvy 2023:

Step 1: Understand the ‘why’

Whether your goal is to make your salary last the month, to save more towards your retirement or to pay off debt, plan for it and stick to it.

Planned spending is a tool you can use to navigate the long month of January, and every month thereafter.

Remember that setting the tone for a financially savvy year starts in January!

Step 2: Get started

A spending plan details what you need to do with your money each month to reach your financial goals. This starts with knowing exactly what you earn and how much you owe. Draft a list of monthly expenses, both fixed expenses such as rent/ bond, car payments and school fees, and those that fluctuate such as entertainment. Now you can calculate what comes in every month and what needs to go out.

Step 3: Know your needs from your wants

A ‘‘need’’ references something vital, such as your home and food for you and your family. A ‘‘want’’ is a nice-to-have, like that daily take away cappuccino or a bought lunch at work. It is important to realise the difference and plan for each accordingly. A good exercise is to scan last month’s bank statement and divide all your expenses into what you spent on a ‘need’ and what you paid for a ‘‘want’.’

Step 4: Kick the bad habits

It’s easy to develop bad habits that can derail your spending plans. This can include grocery shopping without a list, impulsive online shopping sprees or ‘‘payday culture’’ — the temptation to spend as soon as that pay cheque hits your account. Did you know that a daily take away cappuccino can amount to over R1 000 a month?

The first step is to identify these habits and then develop a plan to overcome them. If you don’t know where to start, speak to a financial adviser.

Step 5: Find a budgeting method that works for you.

This can include the 50/30/20 rule: 50 percent of income should go to needs, 30 percent to wants, and 20 percent for saving and debt repayments. Other methods include the envelope system — also known as cash stuffing — whether you use envelopes or a binder to organise your budget, one for each budget category. There are also many useful resources online, including a spending plan template from Sanlam.

Drafting a spending plan is the first step in your journey to financial confidence, empowering you to stay on top of your finances so that they don’t control you.  — iolnews.com