Alexa von TobelFounder of LearnVest
As Founder and CEO of LearnVest.com, I get out of bed every morning excited to put my time and energy towards helping people live their richest lives. I’m an entrepreneur with a mission to empower people everywhere to take control of their money. Whether we like it or not, money is our lifeline, and it ultimately allows us to pursue the things we love. Everyone stresses about money, and I want to change that!
I also believe fashion and finance don’t have to be enemies. How do you reconcile your budget with your style? I’m a huge fan of the 50/20/30 budgeting rule—50% of your take-home pay goes to your essentials (housing, groceries, utilities and transportation to work), 20% to your future (like paying down debt and building an emergency fund) and 30% goes to your lifestyle, the fun stuff. It’s OK to splurge—within the limits of your budget.
Being a financial expert, I’m still super into fashion. Here’s how I like to think about it: The number one key is to be selective. I make every purchase a conscious decision.
I have an encyclopedic knowledge of my closet, so I make sure I’m not buying something I already own ten of (it can easily happen—trust me).
And before handing over my credit card, I think long and hard about “cost per wear” because looking at the price tag alone can be a bit misleading. Think of it this way, if you paid a steep price for the shoes you wear everyday then the “cost per wear” can make your purchase perfectly justifiable. On the other hand, the pricey dress that hides in your closet 364 days a year might be proof of a mindless splurge. (And knowing when to splurge and when to keep your wallet closed is an invaluable skill!)
I also try to fill my closet with versatile pieces that work in a variety of places and settings. My favorite items are those that I can dress-up for a cocktail party on a Saturday night and dress-down for a casual Sunday brunch with friends the next morning. As a finance guru, I tend to think like an investor. I love to spend my money on things with lasting power, like bold statement jewelry, classic handbags and timeless dresses.
As a StyleList guest editor, I’m excited to share some of my go-to style and beauty products, a selection of career fashion must-haves, and my favorite wardrobe picks. I love incorporating fun colors and patterns in my wardrobe to express the energy and excitement that I bring to work everyday. And, most importantly, I dress the way I do because its fun and simply makes me happy.