How to dress for your first job without blowing your paycheck

"The suit is also key as you'll need it for interviews or networking events where you need to make an impact," Bowling told Business Insider.

As a young professional who has worked in traditional newsrooms, nonprofit media centers, and digital startups, I've personally never needed a suit. But I do have a few nice dresses and suit separates.

Those who work in banking or law might find that they do need a real suit. I would recommend scoping out what your coworkers are wearing before you drop serious coin on one.

"If you need a suit, that will probably be the biggest expenditure," Griffin told Business Insider. "So, make sure you can wear the blazer, skirt, dress, and pants all as separates as well as together as a suit."

Bowling recommends you visit TJ Maxx, Marshalls, and consignment shops where you'll be able to find high-quality products at a discount.

"Many of their items comes new with the tags so don't let the thought of it being 'secondhand' deter you, as savings can be significant," Bowling told Business Insider.

You might be able to "shop your closet," as well. A backless top might not fly in your office, but paired with a cardigan or blazer it could be the perfect staple.

"Look at your t-shirts or blouses," Griffin told Business Insider. "If any of them are too fancy to work out in, like a polo shirt, polyester floral t-shirt, etc., then you can probably wear them to the office."

The general rule of thumb is that your clothing budget should comprise no more than 5% of your income. But Bowling said it's okay to up it to 7% if you're starting from scratch.

De Bease suggested $300 to get the basics. "Then add on when possible."

The tone here is quality over quantity.

"If you find a few high-quality basic pieces that fit your body perfectly, you can mix and match those pieces with various accessories to change the look completely," Savasuk told Business Insider.

As someone who spent most of college in Forever 21 and H&M, this was a hard adjustment for me to make. Spending $80 on a nice pair of pants felt practically painful after filling my closet with shoddy $10 jeans for years.

"It is more important to have clothes that fit properly than to have tons of ill-fitting clothes," DeBease told Business Insider.

A $120 pair of black boots, for me, have proven useful and hardy — they're going on four years now. But a $15 pair of loafers I bought a few months ago pinch my feet and look silly with many outfits.

Though the former was a relatively big buy for me at the time, they were worth every penny. Not so much for the fast-fashion impulse buy.