Splurge Vs. Save
Men and women shouldn't skimp on shoes, says Sharon Haver, editor-in-chief of FocusonStyle.com.
 
"Women need a good pair of boots with a classic toe and a nice, stacked heel," she says. "You'll get several seasons of wear out of them. Men should spend money on a nice pair of loafers with a sturdy sole, because they last." 

Women also need to have a well-made, versatile leather bag—one that goes from day to night and dressy to casual. Men should have a well-cut suit in a neutral color, like charcoal. Get one in a lightweight wool, and you'll be able to wear it year-round. 

What can you skimp on? Anything trendy.