A Bank for Fashion? Sorry PNC…

In an article titled, France backs fashion bank for crisis-hit designers, the new idea of a fashion bank (you heard me right) has emerged. “The fashion industry, which the government sees as part of France’s cultural heritage”, begins the article, “has been hit hard by the global spending slump…”. Some of our favorites (Christian Lacroix, Dior and Hermes) have been affected by the current economic order. In order for France to remain the top dog in the fashion world, the idea being proposed here is that France’s government backs or guarantees loans made to fashion houses and companies to sustain the fashion power the country continues to hold.

Top 100 Looks from Paris: Spring 2010 photo credit: Dan and Corina Lecca

A stimulus plan for fashion? Well not exactly. Parisians won’t be able to secure a mini – loan to purchase Jean Paul Gaultier 2010.  And if successful a local industry that employs  125,000 fashionably good looking people won’t have to suffer anymore. The ideal outcome is that we see a rise in Frances luxury/designer industry, something it wrote the book on.

A bank for fashion! Who would’ve thunk it!!?!?

What if there really was a lending institution where people could get mini-skirt loans? I think we call those C3’s. Or Credit Card Companies (such dirty words).

Sounds a little foolish, asking a bank for a loan so you can buy a skirt. But you don’t hesitate to ask Visa (oh snaps!). If you were to categorize how much debt you’ve accumulated into trends, out of all of the charges how much is for clothing? Food? Bills? Unexpected Surprises? Some financial money management software programs (I don’t know what to call them) do this for you but it’s not complicated and doesn’t require much more than a rough estimate.

I like to take a look when I am using my card because it gives me a sense of what I am unable to afford and reminds me that I need to find a better way. My last statement from the C3 (I only have one) reflected quite the poor person. I couldn’t  afford many of the Christmas gifts I purchased last month but I went ahead and bought charged them anyway. Bringing my C3 debt free victory right back to the beginning, and I’m starting “behind” b.k.a. “in debt“.

Open a few statements from the C3’s you owe (or owed). What kinds of stores appear often? Grocery Stores or Fast Food? Department Stores or Boutiques? When do you use your credit card the most?

Define it as you wish. Value it as you see fit.

Comments are Welcomed!

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