Lately all I see are these crazy studded loafers everywhere, super trendy, really fun, too expensive for my tastes. However they are probably the easiest things to make ever with a few simple simple steps and the right tools, all for about $30.
1. If you have access to a computer and printer, I suggest making an over lay like below to make sure all of your studs are perfectly spaced for both shoes. I basically snapped a pictured of one shoe next to the ruler, sized it up in illustrator, made a 9mm circle laid them out accordingly around the top third of the shoe, printed that layout out and used that to make little dots with my paint pen where I will be piercing the leather.
If you don't have access to a printer you can just use the ruler to measure the same space between each of the studs and mark it off on the shoes that way. I would suggest leaving a little less than a half inch between studs.
2. Once you have all of your paint marks on the shoes begin to pierce the leather and punch the backs of the studs through the holes. I found it easiest to poke the reamer through the hole and stick the end of it in the post of the stud. You can then pull the reamer back through the hole to help guide the post out. This will make a world of difference when trying to put all the posts into the holes.
3. I suggest putting all of the posts up through the holes first before attaching the tops of the studs on. At first I was attaching the stud on as I went but realized as I continued to poke the holes the reamer would rub on the studs and scratch them a little.
4. Once all of your posts are through start to attach the top of the stud on. They should click into place but give it a little extra pull to make sure it is securely clasp on. Some of them don't fit properly on the posts and will eventually pop off if you don't double check.
That's it! Simple as that and you're ready to rock your new studded loafers on the town!