'I'm a financial planner who loves fashion. Here are all the ways I afford style on a budget.'

As a financial planner with more than 22 years of experience, many people assume I live with rigid spending rules and sacrifice things like fashion to stay on track with my financial goals. But that couldn't be further from the truth. 

Over the years of getting it wrong and then right, I've found a way to safely indulge in my love for fashion while also maintaining a strong financial foundation. The key? Balance and intention.

If you're wondering how finance and fashion can be friends, let me share with you a few of my tricks on how I afford style on a budget.

Watch Canna's timeless hack, "One base, different outfits." Post continues after video.

How to style on a budget.

I have a clothing allowance.

Creating a "clothing allowance" in my budget has been a game-changer. It's an amount I've set aside each month specifically for clothes/shoes/accessories. Having this allowance gives me the freedom to spend without guilt while ensuring I don't jeopardise my bigger financial goals (investing in my financial future).

If I don't use the full amount in a given month, I save it up for a more significant purchase down the road. By giving myself permission to spend within boundaries, I respect this allowance and use it mindfully.

If you want to give this idea a go for yourself, I recommend reviewing your bank transactions for the last three months to see how much you have spent on clothing. If you spend $80 one month, $150 the following and $120 this month, try and make your "allowance" the average of the three. So in this case, rounded up, $120 per month. It may need a few tweaks but once you hit your sweet spot it is game-changing.

I create, not consume.

Every so often, I do a wardrobe rotation. I pull out items that may have been innocently pushed to the back of my closet and give them pole position in my wardrobe to be seen and therefore worn again. This often then triggers new outfit combination ideas.

This simple practice has saved me so much money. I've realised I already own everything I need most of the time, and I avoid the trap of buying duplicates of forgotten pieces. "Buy less, create more" is my mantra, especially with the rising cost of living.

I invested in my colours.

One of the smartest style investments I made was having my colours done—which I recently had done again!

Knowing which colours, saturations, hues etc enhance my features has given me so much confidence. I'm now more open to exploring bolder options, instead of falling back on yet another black top that leaves me feeling uninspired.

This knowledge has made shopping more intentional and satisfying and there are so many free apps that can help you work out your colours and seasons.

I understand what I truly love.

Over the years, I've spent time refining my taste and understanding what I truly love and admire. If a trend catches my eye, I pause and ask myself: "What exactly do I like about this?" This practice has helped me avoid impulse buying and rushing into trends that don't suit me.

Instead, I take inspiration from what I admire and apply it to my own wardrobe. This mindset shift has saved me countless dollars and helped me curate a timeless style.

I keep a shopping log.

I've learned that I sometimes trick myself into thinking, "I haven't bought anything in ages!".

Slightly embarrassing to share this, but to stay grounded, I keep a simple log on my phone in the notes section, recording the date, cost, and item I purchased. It's a gentle reminder of what I already own and helps me stay balanced and honest with myself.

This log has been especially helpful in keeping me accountable for what I have already consumed, whilst still indulging in my love for fashion.

Cash only.

I don't own a credit card—not because I fear debt, but because using cash via my debit card keeps me accountable. I feel safer knowing that I'm only spending what I actually have.

With three young kids and a busy career, I don't have the mental bandwidth to worry about credit card bills or unnecessary debt. Paying in cash for my fashion purchases gives me peace of mind, feels refreshingly responsible and ensures I'm always staying within budget.

I link special purchases to goals.

For bigger, more luxurious purchases — like a beautiful handbag — I anchor the reward to a goal. This way, I never feel guilty about splurging. When I wear the bag, I'm reminded of the hard work and personal growth I achieved to get there. And these goals aren't always financial; sometimes, they're linked to my career, family, or personal development.

For example, adding a certain amount to my share portfolio, completing a new course for work, and building and maintaining a new exercise routine or fitness level. It makes every special purchase even more meaningful and reminds me that all the hard work is really worth it.

Listen to Canna Campbell on Nothing To Wear here. Post continues below.

Fashion and finance don't have to be at odds or back you into a corner where you have to pick one path. With a few simple and free strategies, I've managed to stay stylish while keeping my financial future secure. By being mindful, setting boundaries, and staying in tune with what you truly love, you can also enjoy the best of both worlds and with a happier and possibly more stylish sense of balance.

And while we're at it, here are the five items on my wishlist I'm currently budgeting for!

What's on my fashion wishlist:

St Tropez Cat Eye Sunglasses, $49.95.

St Tropez Cat Eye Sunglasses. Image: unison.

AYA Oralie 3 Compartment Tote Bag, $59.99.

AYA Oralie 3 Compartment Tote Bag. Image: STRAND.

Tony Bianco Meadow Leopard Pony Flats, $179.95.

Tony Bianco Meadow Leopard Pony Flats. Image: Tony Bianco.

Anine Bing White Mika Shirt, $320.

Anine Bing White Mika Shirt. Image: David Jones.

HENNE Valentina Jean, $229.

HENNE Valentina Jean. Image: HENNE.