It’s the biggest night of your life. Perhaps you will be marrying your soul mate, receiving your first Academy Award, or watching your child receive the Nobel Prize. Just visualize the occasion and go with it. You’ve laboriously crunched the numbers and decided that $1,000 is the most you can spend on your dress/suit.
You try on an outfit that is beyond your wildest dreams. It’s the absolute perfect style, fit, and color, and you’ve never looked better. You couldn’t hire a tailor for ten grand and possibly look this amazing. The retail price is $1,200 but since it’s 25 percent off, it will only cost $900 (this is a fantasy so we can forget about sales tax). Just as you’re about to pay, gloating that you got the perfect outfit below your budget, your friend brings you another one.
You try it on, and it looks great. Had you not seen the other one, you would have been happy with it. Its only flaw is that it’s simply one notch below the first one. The retail price is $2,000 but since it’s 75 percent off, it will only cost $500. That’s a $1,500 savings!
To summarize, it’s the biggest night of your life. Your budget is $1,000 and your choices are:
- $1,200 outfit for $900 that you absolutely worship.
- $2,000 outfit for $500 that you like.
Which one would you buy?
Please ask any questions and/or offer insight in the box below. Then check back Thursday to read my analysis in a column entitled, “Who Knew Eddie Murphy was a Prophet about Clothes?”