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How do you determine your beauty budget?
I don’t have a specific amount, though as a business, there’s a certain % of expenses to revenue ratio that I try to be within +3% of on a given year. The amount I spend on product to review has gone up significantly in the last two years, so I’m still adjusting and working on estimating it. Right now, my primary goal is to not over-purchase where I buy so much and review only a small portion of that; and I know I did improve in 2017 vs. 2016. I also know to budget more toward September/October due to all the holiday launches vs. January so I think of my budget more in terms of quarters than monthly, which helps spread the money around.
— Christine
I don’t have a beauty budget, but then I do not have budgets for anything. That may have to change since I no longer work.
I am fascinated by the business of blogging/YouTube so I appreciate your insider information about how you manage your product expenses.
I don’t actually have a beauty budget. I buy things that I really like a lot, that score well here and that look like things I “need”. I also replenish all my basics as I finish them (mostly skin care but also “HG” lipsticks, etc.) I know what I consider affordable and what I consider just too expensive for what it is though I don’t think that has much to do with my budget so much as to what I think is worth it – so that even if I won a lottery, it’s still something I wouldn’t buy because the cost is, IMO, unjustified.
I set aside a certain amount each month and if it is not used, it rolls over. I set aside more than I need for monthly purchases but it balances out because it’s just for staples now and about 2 or 3 releases a year.
I don’t really budget, but have a good sense that I’m going to spend a lot more in April and in December because of the VIB sale at Sephora. I buy almost all of my makeup and skincare from Ulta or Sephora, with just occasional purchases from other retailers because they’re not carried by those two stories (like the Jouer Skinny Dip palette). Typically I’m still thinking through in Q3 whether I am “on track” to renew Ulta Platinum and Sephora Rouge status by the end of the year based on organic historical spending. If I’d already crossed those thresholds or was really close in Q3, I would know I’d really been spending a lot more than usual and should be more mindful of what I buy during Q4/winter promotions.
I don’t have a budget. But I don’t buy crazy either. One color from a brand I want to buy. Maybe more colors later from that brand, but just one color to start. I don’t go crazy buying 15 shades of TF or Pat McGrath for example. Usually the lipstick is a red.
Yesterday, I bought a matte fuschia which is unusual from McGrath. Her lipstick is out of this world. I could buy three of her lipsticks more or less. It felt better than Louboutin.
In other words, I gauge my purchases. I buy a after reading Christine’s review. …except for Suqqu and other Japanese brands. I never buy beauty products made in PRC. I buy what is upcoming. Not the recycles of Dior or Mac or Too Faced …different name, same color. These criteria keep me from buying too much.
And yes, I bought a slew of Mac 239 and Mac 217 brushes at the years end. Because Mac has stop selling fur brushes. I do like fur brushes….but only made in Japan brushes.
I set my budget based on total household income, so it varies if my or my spouse’s income fluctuates. I’m also more strict about not going over budget if our overall financial situation is more tight, and loosen a bit if it’s more comfortable (if we don’t have big expenses like travel, car repairs…).
I also have a separate budget for products I buy to feature/review on my blog. I try to plan ahead based on future releases I know would interest my readers, but the little revenue I get from the blog never covers the expenses!
For several years there, my mentality was simply; as long as all my bills are paid, the cupboards, fridge and freezer are well stocked, and all other financial commitments are taken care of for that month, then EVERYTHING else went towards beauty products and makeup. And occasionally, clothing. This was terribly irresponsible and stupid on my part! Hence; why I placed myself on a low-buy for 2018. Probably 2019, too, if I’m smart!
Rotating my eyeshadow palettes helps to resist the temptation to buy new ones when you realise you probably have dupes for every single shade. Ditto for blushes, lipsticks and highlighters. I can really understand where you came from Nancy, when I lost my job a few years ago I turned to beauty as a way of healing myself and now that I am past that I am much more selective.
I budget how much I want to save. Not much what I spend on extra’s. Let’s say I have 25 % of my income for gifts/beauty/clothing /etc. I will spend more during specific periods (black Friday for skincare) and will try to balance it out overall. I will try to do better in 2018! I have found gems in the last 2 years, I should enjoy and not accumulate. I can always keep the money for a special release. I did that for the viseart grand pro palette and I am still feeling great about it!
I just spend what I can afford however I think I have spent too much lately when I consider other things I could buy. I think I should set myself a budget after thinking about it. This way I can satisfy my make up hobby, ok, obsession! without the guilt. I might also be more picky and not impulse buy.
I don’t have a beauty budget as such because most of the time I buy my staples from budget beauty places and even then on sale. The only items I splurge on are eyeshadow palettes/quads and I haven’t been purchasing many of those in the past couple of years due to the shades not being right for me.
The only full priced palette was the Huda Smokey Obessions and that wasn’t too expensive by Australian standards. Same for foundations – the Chosungah 22 in porcelain was reasonably priced for a HE foundation as well.
I don’t purchase expensive lipsticks either and when I buy them they are on sale as well.
And thanks to your sterling reviews Christine, we are guided by what is worth spending on.
I din’t have a budget previously but I’m on a no buy this year. I’ve got so much product it will last me forever. I have a couple of items that I will wait to purchase during Sephora’s sales and that’s it for me!
I put beauty under my “entertainment” part of my budget, which has a specific cap per month. It’s in my “variable” expense category as opposed to “fixed” or “semi-variable”, and that category is the first to contract if I need to tighten my belt (as we’ve been having to do lately) so right now my entertainment budget is set at “as little as humanly possible without going insane and dehumanizing yourself”. So far the only things I’ve spent on since Dec. 1 were seeing Star Wars on Thursday and buying The Ordinary hyaluronic serum to see if it can be a decent cheaper dupe for the FAB serum (yes it can! It’s a bit tacky and not quite as moisturizing and so I always need at least a lightweight moisturizer to both cover the tackiness and moisturize, but it is 1/6th the price so that’s definitely dupe category) so I’d say I’m doing VERY well in terms of budgeting, if going a bit stir-crazy. I may crack and let myself buy a few items in the coming month as it’s become a bit of a “you’re sick so you’re a burden on society so you don’t deserve nice things” which is not gonna help. So with that in mind I may winnow down my wishlist and get one or two things.
I have a set budget for “fun” and that includes going out as well as clothes and beauty stuff. I try to wait for sales and keep an eye on my stash to spend the money sensible.
I’m still working on this. I spent too much in 2015 and 2016 and last year attempted a total no-buy to compensate. Didn’t work out exactly, and I ended up beating myself up over small purchases.
This year I have budgeted in $50 at my birthday and $100 during the holiday sales. (Mascara is excluded from the budget but I can only buy from drugstores.) I think this is a reasonable amount, I should be able to repurchase my basics and also pick up a few new items to treat myself. Since my birthday is in July I think it cuts up the year in a good way too.
Beauty falls under “Fun Money” in my budget for me; I give myself 10% of my gross income to be used as disposable income on anything that is fun (entertainment, eating out, clothing, beauty, etc.) and non-cost of living related (aka all bills). More beauty = less clothing/eating out, basically.