Option 1: Thinking like an economist Should you spend $200 on a new pair of jeans? It depends on the cost per wear (CPW). CPW = (Purchase price + Maintenance cost)/Total wears Let's assume the lifetime maintenance cost is $20. "Questions: 1) Calculate your CPW (Hint: You need to guess how many times you are going to wear the jeans.) 2) Apply the cost-benefit analysis to justify your decision. Looking for an example of CPW calculation? Check this article: https://www.instyle.com/shopping/price-per-wear-chanel-shoes-formula z . Looking for shopping suggestions? Check this short video