You can revamp your look without breaking the bank

Sometimes, you feel like you just have to have something new to wear. Trust me, I understand the impulse. After months of cutting back on your clothing budget, there may come a time when you feel as if you don't have the appropriate attire for that important job interview, a summer wedding, or even that hot date.

Last week, I was able to sit down with Stacy London, co-host of TLC's "What Not To Wear." On the show, London trashes a person's entire wardrobe, then hands over a $5,000 debit card to replace it, assisting in their complete style makeover. I asked her (and a few other experts) what to do when the rest of us aren't as lucky:

• Shop in your closet first. You'll be surprised by what's there, particularly if you didn't have time to do a good spring-cleaning this year. Some things may be out of fashion -- donate them to a charity or put them in storage until they come back in style. (They almost always come back, so if they're expensive pieces in good shape, you want to hang on to them, London says.) Then work with what you have left to come up with new outfits that you wouldn't otherwise have thought of.

• Find a good tailor. Everyone has items in their closet that no longer fit. Heck, most of us have things that didn't fit when we bought them, and we hoped we'd either lose the weight or make it work. Yet, after a few months or even years, the tags are still on. Take those items to the tailor immediately. To find one you can trust, ask around with friends, or start by taking something that's relatively simple, like a pair of jeans that need hemming. Then you can have sleeves shortened or taken in, revamp a suit, or refit the shoulder on a jacket. All these tweaks make use of what you already own, and they're relatively inexpensive.

• Know when to splurge and when to save. Sharon Haver, founder and editor-in-chief of focusonstyle.com, says women need a good pair of boots with a classic toe and a stacked heel, and men should have a nice pair of loafers with a sturdy sole. Women also need to have a well-made, versatile leather bag, one that goes from day to night and dressy to casual, and men should have a well-cut suit in a neutral color like charcoal. Get one in lightweight wool and you'll be able to wear it year-round, breaking up the pieces as necessary.

• Stock your closet. If you have the essentials at hand, you'll be ready for any occasion. You can't go wrong, for instance, with a cashmere sweater, and you can find them on sale as winter comes to a close. Haver also suggests investing in a nice pair of dark jeans. "This is especially important for men, because if you have a pair of premium denim jeans, you can wear them with a button-down shirt and a blazer." Make sure you also have a crisp, white button-up. Women should have a few dresses that can go from work to night relatively seamlessly, London says.

• Take care of your clothes. No matter what you spent on them, you want them to last. That means limiting dry cleaning -- the chemicals can do a number on fibers, so hand wash whenever possible -- and even re-soling shoes. I recently had seven pairs of shoes and boots fixed up for less than $150, much less than it would have cost to replace even a single pair.

Jean Chatzky is an editor-at-large at Money magazine and serves as AOL's official Money Coach. She is the personal finance editor for NBC's "Today" show. Her Web site is http://www.jeanchatzky.com.