CPW/U

Cost Per Wear/Use (CPW/U) is a time-tested strategy of making purchases cost-effectively, and to make sure that that snazzy pair of boots won’t end up as a ball and chain on your budget. It’s a simple formula. Take the cost of the item and divide it by how many times you expect to wear/use (or have worn/used) it. That is your CPW/U.

Amy Dacyczyn, author of The Tightwad Gazette, defines CPW somewhat differently, but it is also applicable to our clothing choices. Amy calls this Cost Per Wow.

What this means is that if you can purchase two different pairs of earrings, one for $20 and one for $100, the pair for $100 should give you five times as much pleasure and wear to be truly valuable.

Let’s take a look at these theories in practice.

I like art jewelry. Each piece is unique, which is a big factor in my attraction. Pieces are often made from interesting materials in attractive shapes. It is also often much less expensive than traditional jewels, but often more elegant than costume jewelry.

Since I wear earrings every day, and I rotate about 20 pairs, I can guesstimate that any single pair will most likely be worn about 10-15 times per year. If the style I am considering is very trendy, and will likely not last more than a year, then a price tag of $30 or more will cost me $2+ every time I wear that piece.

However, if I choose a pair of earrings that are timeless and stylish, I can assume that I will own them for 3+ years, bringing the number of wearings up to 30-45 times. If they do not have a lot of color in them, and can be worn with many varied garments, then that number could easily be higher. A very specific pair of earrings for a certain garment or color scheme will be worn less often.

A single pair of earrings that make you feel special and sexy every time you wear them, even if it is only once or twice a year (Valentine’s with your hubby, for example), might just be a fabulous deal at twice the price of everyday earring choices. Even if the Cost Per Wear/Use shoots through the roof, the Cost Per Wow is a bargain.

The reverse can also be used to choose less expensive items. For example, say you saw a $500 sweater in a very striking color. You loved it, and decided to put it on hold while you shopped the rest of the day.

Later, you find a similar sweater in a color that blends with your wardrobe, making it wearable with ten times the outfits than the previous sweater. This does not tug at your heartstrings as much, but will make you feel good more regularly, and only costs $75.

Only you can make the choice which is worth it, but by figuring both CPWs for yourself, you are armed to make a better decision to suit your style and be happier with your purchase.

I’ll be looking at various purchases through the CPW/U lens in this blog – I’m planning everything from hats to mattresses, to kitchen gadgets. I’m kind of a geek when it comes to this stuff, and I hope you’ll enjoy the process as much as I do, and perhaps gain a new way of looking at the decision to purchase, while learning to avoid that expensive purchase that never fails to drag you down.

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Tags: calculating actual cost, CPW, making purchasing decisions, The Tightwad Gazette by Amy Dacyczyn