Assess clothing in terms of quality as well as price. An inexpensive shirt or coat is a poor bargain if it wears out in less than a year. Consider fabric, stitching, washability, and other quality related factors in your selection of clothes.
Just to add to this, i fully agree that buying clothes or shoes should deserve more attention than most people give it, although high price in general doesn't even remotely guarantee quality.
Cutting expenses is the most effective way to save money in the short run, but i generally prefer investing to cut or reduce the cost (like that water well i was talking about earlier in thread.
In the end, you do want to save money, but also not to look like a bum.
cheers