Scanning the racks for the best bargains might be a little tiresome, but it's totally worth it, says Mary Hall, author of The Recessionista Blog. "In this economy, things aren't selling as quickly," she says, "so there are much better items on the clearance racks!"

TIPS
1. "With the economic downturn, people are getting up earlier to save money," says Hall. "Many chain stores have early-bird specials that start at 6 or 7 a.m. Take advantage of that extra 10 to 15 percent off!"
2. "Try to shop weekday mornings. They restock at night, so there's a bigger selection."
3. "Check price-comparison sites like PriceGrabber.com beforehand. That way, you'll know you're getting the best price, and stores won't be so daunting."
4. "Quality silks and cottons are seasonless and can last forever. Plus, brands like Chanel will always be in style."
5. "Loyal customers get the best deals at department stores," says Hall. "Applying for a store credit card will enable you to get further discounts during sales."
6.  "Invest in neutral colors. They easily transition into fall and will often be in style many years down the line."

Pictured above clockwise from the left: French Connection dress, $60 (originally $188), French Connection stores; Just Bee clutch $2 (originally $28), Urban Outfitters; 7 for All Mankind jeans, $92 (originally $185), Neiman Marcus.

For more tips on what's hot and affordable, pick up the newest issue of Life & Style, on newsstands now!

Photo Credit: HBB