Happy New Year everyone! I hope everyone enjoyed the festivities and the hangovers of the physical & financial kind are easing off nicely. Speaking of which I was browsing http://www.whowhatwear.com and was shocked to find out the amount of your salary you should spend on clothes. According to award-winning financial planner Pete Dunn, only 5% of your monthly budget should be spent on clothing! Who’s just had a shock? Hands up… Yeah me too. However you’re the person who knows their wallet best and no two people work out their budget the same. If you’re curious about what 5% of your take home pay is for that spree, the best calculator keys to tap are to multiply what you’re paid each month by 0.05. If one of your New Years’ resolutions is to put your purse on a diet, you may have a shock! Good Luck. Don’t say I didn’t warn you.