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All those sequins that will soon arrive in the shops are very tempting, but you can probably rewear quite a few outfits from last year, if you mix them up a bit.
Spend some time analyzing your wardrobe, and figure out which pieces you can pull together to make a fresh party outfit for this year. You can then spend less by buying some new accessories, rather than whole outfits. You'll also be ready for all those parties without stressing about what you're going to wear and panic buying.