I'm also on a student's budget and don't have much money to spare.
I think the most important thing is to think about what you want and really need. I say make a list of items you think you need most, then purchase the most important first. And if something isn't on the list, don't buy it.
Since I'm here I have only bought some boots (I wear them all the time now), a scarf and a hat. Boots were my most important item, because now I can wear all my skirts and dresses in the cold (I'm a skirt girl). What's most useful for your wardrobe? And I got a new skirt for my birthday and shortened another skirt and a dress.
Although the most important thing for me was my closet cleanup. Maybe you can do one, too? It helped me realize which item I want to buy next, if my budget allows it. At the moment I'm working almost only with stuff I had before YLF. And I feel much better about my outfits already, without buying new things.
You can naturally shop sale for money saving, but ONLY if you know what you want. I always tend to buy things I don't really need only because it's on sale. So for me it's better to have a little patience and wait before I purchase a slightly more expensive item, but then I have the right one.
