I tend to go 6 months or a year, even 2 years without any/many purchases (in 2 years I may pick up one wardrobe "hole" item, one replacement for something I wear out (like jeans, or several if it is something like socks or tank tops/camis), a pair of shoes (I wear out 1-2 a year), new bras, and one trendy item.
Then I will feel dissatisfied with my wardrobe-- usually because of the age/wear from use, a life change (new job!-- move!), or weight redistribution changes. I will spend a considerable chunk of money all at one time over the course of a couple of months (because I desperately need new xxx)-- usually between 400 dollars and 1000. Then I won't shop again for a while. There are logical reasons I do this, but of course this is not often the best method-- it is just my tendency.
I agree with others that you don't have to spend a lot to look great, but also know that in some cases it is difficult to get a lot for your money, especially if you demand your clothing perform as hard as I do (quality because I need it to last and survive a lot of washing)! I'm hard to fit, so business clothing can be expensive for me, even when I am not buying wool suits or name brands-- we can't all fit into the stuff sold at target, thrifting, jcpenney, juniors' stores, ect. I am tall and a decently big person--- and I have to alter almost everything that is tailored or fitted, which gets expensive. Turns out that I am a XL, 12/14 tall top with a 26" waist.