Save money with these clothes shopping secrets

If you buy clothes regularly, you probably have a good idea about the price ranges of various items. But with a better understanding of how pricing really works, you can save money and still wear what you planned.

You know the shopper's mantra "Never pay retail" right? Well although it's impossible to know precisely what a particular retailer paid for the garments on display, learning how the pricing process works can save you money. Say a shirt comes in with a suggested retail price of $60, preprinted on the hang tag. Early in the selling season, the retailer will put that shirt on display for that price. Out of all of the people who end up buying that shirt, only 10 to 20 percent of the buyers will pay this original price.

Once you factor in sales and coupons, the price of the shirt starts creeping lower and lower. By the end of the selling season, that shirt is marked down to about 20 dollars, which is around what the retailer paid for it. So the next time you consider buying clothing that's not on sale, ask yourself if you'd rather wait a month or two and get the garment at a 60 or 70 percent discount. Usually, you'll find the discount worth the wait.

It really is as simple as that. Time is money, but you can often save significant money by just waiting for a small amount of time. This strategy works especially well on classic pieces that won't be out of style in a season or a year. Happy shopping!