Fashion: Splurge or Save?

Unless you have an unlimited clothing budget (jealous), you have to pick and choose with items you need to splurge on, and where you need to save. When is it better to buy the designer, and when is it better to find a similar off-brand piece?

Timeless, good quality, high-use pieces are worth the extra splurge.

Generally, if something is trendy, I'd say buy a similar. If you think you'll get less than a year of wear out of something, don't spend big money on it. Boyfriend jeans? Save. Chunky sandals? Save. Keep your dollars for classic pieces that will never go out of style, such as a statement handbag, a designer watch, sunglasses you'll wear every day, or a great leather jacket.

Get "trendy" items at discount retailers, not designer boutiques.

For example, the high-low dress trend, while something I love, is sure to be gone next year, so don't spend more than $20-$30 on a dress you'll wear for a summer. If you get your must-have, on-trend, get-compliments-at-work pieces someplace like H&M or Forever 21, you can Neiman Marcus something you'll use and style for years to come.

What do you think? What items are worth the splurge, and where should you save?