Back Price is what you pay, value is what you want.
As you know I am big on choosing your spending. Spend all you want as long as the benefits you get are greater than the expense. Of course always remember the big fat hairy secret, spending more than you earn will result in misery in the long run. Still while the spending rules are simple there is still an element of judgement in deciding whether or not what you get from your purchase is more than what you pay.
Simply paying the least amount in terms of price doesn't necessarily mean that you have spent wisely. In many circumstances there is a very good argument for paying up for quality. This is true across a whole range of areas. I remember back packing through Thailand a few years ago and I was on a tight budget. So I was very keen to save money on accommodation. I went to a place and took a room (stupidly, I did this without looking at the room first) because it was so cheap. I was assured the room was clean and had an ensuite. I thought I had reached backpacking heaven. But as it turned out the 'shower' was a rusty pipe poking out from the wall that continuously drizzled water and the room had been the location for a revenge killing and they hadn't had time to properly wash the blood stains off the wall. Still the bed was clean and comfortable so I stayed there anyway.
If you are into DIY and so have a thing for power tools you will know the saying 'buy cheap buy twice'. In my experience it is definitely worth buying quality power and other tools. You get a much better outcome and save money in the long run.
Clothes are also an area where you can get real benefits from buying quality.
To start with avoid the latest fashion fads. Remember clothes are meant to make you look good and give you confidence. Being a fashion victim makes you look stupid and gives the rest of us an opportunity to look at you and think 'jeez nice girl/ bloke but phew you look like a goose'. This upsets you and all your loved ones. No one likes to see muffin pants or tight clothes on blokes with big beer guts. I also think people will look back on the current denim mini skirt, ugg boot and big sunglasses ensemble and say 'what the hell were we thinking'.
Fashion is a game you can't win. By the time you have purchased all the hottest fashion items the latest seasons items have arrived in the shop and you have to start all over again. Even if you hang on to stuff thinking 'this will come back' you run out of room and throw that stuff away just before it does come back.
And another thing, the next time you see an ad for clothes that talks about helping to create a 'look as individual as you are' remember they will sell millions of that shirt, shoes, etc. If you really want to have an individual look design and make your own clothes.
Remember that clothes have a life cycle. They deserve to be allowed to go through the whole life cycle. Look at the following diagram:

The thing to notice here is the rich tapestry that is the life of clothes.
I simply don't understand why people have a wardrobe full of clothes that they either haven't worn at all or have worn once. My girlfriend is smart and sensible but even she has clothes in the wardrobe that I have never seen her wear and I have lived with her for 10 years. So even the best of us can fall into this trap but if you do this on a regular basis then it's time to take a long hard look at yourself.
My attitude is if you are not going to ' live' in a particular item of clothing then don't buy it. At the very least all clothes should be worn until your partner (its usually a woman who does this) says 'You are not going out wearing that!' But while this means a change to your lifestyle there is not need to dispose of the offending item. There are still many months of joyful wear to go - sure its all round the house wear but that's still good.
Eventually it comes time to say goodbye. This is of course an emotional time and one where support from your partner is crucial. That t-shirt with the stains and holes may not look the best but it has so many beautiful memories. But even now despite the fact that you are grieving, think about whether you can compost (you can't do this with synthetic materials) or use the clothes in some other way. Cotton clothes are great motorcycle (or car) polishing rags.
I hope this helps you in some small way. If I prevent only one person from going out and buying clothes that they later realise made them look like a goose then I will be content.