How Much Should I Spend on My First Suit: Budgeting for Life's Big Moments

Buying your first suit is a rite of passage. When you put on a suit and look into the mirror, you're seeing a version of yourself that's grown and ready for any challenge. Your first suit might be with you as you go to your first job interview, walk across the stage at graduation, or shake hands with your new boss after landing your first "real" job.

Shopping for a first suit is exciting, but it can also be expensive. This guide can help you strike a balance between looking your best and staying within your means, with practical tips and tools from EarnIn, like Tip Yourself¹ and Cash Out², to help you save up or access your money when life moves faster than payday.^,

How much should I spend on my first suit?

Let’s start with realistic expectations. According to The Black Tux, a website for men's suit and tux rentals, here’s what different tiers generally look like:

Entry-level suits ($200–$500): Off-the-rack options from department stores or online retailers. Great for interviews and occasional events.
Midrange suits ($500–$1,000): Better fabrics and tailoring; ideal if you’ll wear it regularly for work or networking.
Custom or made-to-measure ($1,000+): Designed for long-term use, with a personalized fit and higher-quality materials.

If you’re buying your first professional suit, aim to spend no more than one paycheck, or roughly 1–2 % of your annual income. For example, if you earn $45,000 a year, a budget between $450 and $900 is reasonable.

Your job, frequency of wear, and location all factor in. Someone working in consulting or sales may want to invest a bit more than someone who only wears a suit for special occasions.

And keep in mind that if the suit you pick off the rack isn't exactly the right fit, you may also want to budget to have it altered, which can cost between $50-$200 or more. A $300 suit with a perfect fit almost always beats a $1,000 one that doesn’t.

What makes a suit worth the price?

Knowing where your money goes helps you decide what matters most. For your first suit, it may be best to focus on fit and versatility over labels or luxury materials.

Fabric

Wool suits are breathable, durable, and wrinkle-resistant. Polyester blends are cheaper but may not last as long. For a starter suit, a wool-polyester mix balances affordability with performance.

Fit

Fit matters more than brand. Prioritize how the jacket sits on your shoulders since it’s the hardest part to alter. You can always adjust sleeves or hem pants later.

Construction

Cheaper suits are often fused (layers glued together), which can bubble over time. Half-canvassed or fully canvassed suits cost more but tend to hold shape longer. For occasional wear, fused is fine; for regular use, consider half-canvas.

Alterations

Budget 10–20% of your suit price for tailoring. Common adjustments include hemming pants, shortening sleeves, and taking in the waist. These small changes help to create a polished, professional appearance.

How much should you budget for a suit?

Your location, income, and purpose tend to influence what feels realistic to spend on a suit. For example, job interviews might justify spending more, while occasional events allow for modest budgets. Consider your monthly take-home pay and local cost of living when planning.

Using the EarnIn Budget Calculator³, here's how an early-career professional earning about $3,200 per month might budget across five U.S. cities.

City	Monthly Take-Home Income (est.)	Average Monthly Savings	Clothing/Shopping Budget	Suggested First-Suit Budget	Notes
Brooklyn, NY (11215)	$3,200	$217	$270	$150–$300	Higher cost of living.
Chicago, IL (60614)	$3,200	$254	$283	$150–$250	Moderate expenses make one paycheck (≈$1,600) a good benchmark.
Dallas, TX (75204)	$3,200	$186	$287	$125–$225	Lower savings margin — saving weekly helps reach your goal.
Birmingham, AL (35209)	$3,200	$174	$290	$100–$200	Affordable living but tight savings
Sacramento, CA (95814)	$3,200	$137	$281	$150–$250	Higher housing costs leave less for extras

If you're not sure where to start, consider financial tips for young adults like trying the 50/30/20 budget and other practical ways to manage your money when you're just starting your career.

How to buy a great suit on a budget

Here's how to look sharp without overspending.

Prioritize fit over brand

A well-tailored $300 suit almost always looks better than a $1,000 designer one that doesn’t fit.

Shop smart

Look for suits at end-of-year sales or after-Christmas sales. Many brands also offer student or first-job discounts, so be sure to ask before you buy.

Choose neutral colors

Stick to navy, charcoal, or medium gray. They’re timeless and easy to mix with shirts and ties you already own.

Buy separates

If you can’t afford a full set, a versatile blazer and trousers can go a long way and still look polished.

When buying a suit is worth the splurge

Sometimes spending more makes sense. If you’re starting a new job, attending frequent meetings, or getting married, investing in a higher-quality suit can be worth it.

Think about cost per wear: a $900 suit worn 30 times in a year costs $30 per use, far less than a cheaper one you spent $300 on that sits collecting dust in your closet.

If you take care of your first suit, being sure to brush it, hang it on wooden hangers, and dry clean sparingly, even a mid-range suit can last you several years.

Save for your suit

If your first suit is a planned purchase and you have time, saving in small amounts can make it a less stressful experience. With Tip Yourself¹, you can automatically set aside part of every paycheck in a no-cost, FDIC-insured account, or move money manually when you can.

Even $10–$15 each week can add up to a few hundred dollars over time. Be sure to name your goal, something like "First Interview Suit" or "Professional Wardrobe Fund", and watch your progress grow inside the app. No interest, no monthly fees, just progress toward your goal.

When timing matters

Sometimes, you can't plan every moment. A last-minute interview, networking event, or family celebration might come up before payday, and waiting to buy your first suit isn't an option.

Whether you need to quickly rent a suit, make alterations, or buy a new suit, instead of turning to a credit card or taking on new debt, you can use Cash Out² to access money you've already earned. Get up to $150/day, with a max of $750 between paydays, with no interest, no mandatory fees — just an optional tip⁴. With Lightning Speed⁵, you can get your cash in minutes, starting at $3.99 per transfer.

It's a practical way to cover essential purchases, like a suit, when timing matters most.

Dress smart, spend smarter

Your first suit isn’t just fabric and buttons, it’s about showing up ready for what’s next. Spend what feels right for your income and goals, typically $200–$800 for most first-time buyers.

Plan ahead when you can. Save in small amounts with Tip Yourself¹, and consider Cash Out² when timing doesn’t line up.With the right tools, you can build confidence in both your wardrobe and your wallet.

Whether you're saving for your first suit, planning ahead for bills, or trying to make every paycheck stretch further, EarnIn puts money at the speed of you. Because when you feel good in your suit and your spending, you walk taller in every sense.

Frequently Asked Questions

Is $300 enough for a decent first suit?
Yes. You can find quality entry-level suits for around $300, especially if you catch seasonal sales and budget for minor tailoring.

How many paychecks should I save for my first suit?
Target saving 1–2% of your annual income, which typically equals saving portions of 2–3 paychecks. Use Tip Yourself¹ to automate small weekly savings toward your goal.

Is it better to buy or rent my first suit?
If you'll wear your suit rarely, say under 3 times a year, renting may make more financial sense. But if you plan to wear your suit frequently for work and events, say over 10 times per year, buying may provide better long-term value and consistent fit.

What's the smartest way to budget for milestone purchases?
The smartest way to budget for milestone purchases is to set realistic goals and make saving automatic. If you're brand new to budgeting, learn about different types of budget to find the one that makes the most sense for your lifestyle and income.

Please note, the material collected in this post is for informational purposes only and is not intended to be relied upon as or construed as advice regarding any specific circumstances. Nor is it an endorsement of any organization or services.

This Blog was sponsored by EarnIn. While the author received compensation, the information shared is grounded in independent research and intended to provide helpful and accurate guidance to readers.

EarnIn is a financial technology company, not a bank. The Cash Out product is provided exclusively by EarnIn. Certain bank products are provided by Evolve Bank & Trust and/or Lead Bank, Members FDIC. The FDIC insures deposits to protect your money in the event of a bank failure. More details about deposit insurance here. Additional services in the app are offered in partnership with trusted third parties.

¹
Tip Yourself Account funds and Tip Jars are held with Evolve Bank & Trust, member FDIC and FDIC insured up to $250,000. Tip Yourself is a 0% Annual Percentage Yield and $0 monthly fee service deposit account. For more information/details, visit Evolve Bank & Trust Customer Account Terms.

The FDIC provides deposit insurance to protect your money in the event of a bank failure. More details about deposit insurance here.

²
A pay period is the time between your paychecks, such as weekly, biweekly, or monthly. EarnIn determines your daily and pay period limits ("Daily Max" and "Pay Period Max") based on your income and financial risk factors as outlined in the Cash Out Maxes section of our Cash Out User Agreement. EarnIn reserves the right to adjust the Daily Max and Pay Period Max at its discretion. Your actual Daily Max will be displayed in your EarnIn account before each Cash Out.

EarnIn does not charge interest on Cash Outs or mandatory fees for standard transfers, which usually take 1–2 business days. For faster transfers, you can choose the Lightning Speed option and pay a fee to receive funds within 30 minutes. Lightning Speed may not be available at all times and/or to all customers. Restrictions and terms apply; see the Lightning Speed Fee Table and Cash Out User Agreement for details and eligibility requirements. Tips are optional and do not affect the quality or availability of services.

³
The calculations provided are based on estimates and should be used for informational purposes only. Please be aware that comparisons may not be 100% accurate. The insights and data presented do not constitute financial advice, and we recommend consulting with a qualified financial advisor for personalized guidance.

⁴Tips go to EarnIn and help us provide tools such as Credit Monitoring for free and keep Lightning Speed fees low. Your service quality and availability aren’t affected by whether you tip or not.

⁵
Lightning Speed is an optional service that allows you to expedite the transfer of funds for a fee. Depending on the product, the fee may be charged by EarnIn or its banking partner. Lightning Speed may not be available to all customers. Actual transfer speeds depend on your bank. See the Lightning Speed Fee Table for details.

How Much Should I Spend on My First Suit: Budgeting for Life's Big Moments

How Much Should I Spend on My First Suit: Budgeting for Life's Big Moments