The study, conducted by VoucherCodesPro.co.uk, has revealed that 64 percent of women feel that they can't afford to keep up with the latest fashion trends, reports femalefirst.co.uk.
As many as 41 percent of women surveyed said they would wait for sale and go to areas where discounts are available.
The survey also found that the average spent each month on clothes totals 52.50 pounds, equating to approximately 630 pounds each year.
When asked how much money a month they felt they would ideally need to stay "fashionable", respondents replied with an average of 115 pounds.
"Some of the most fashionable and trend-setting people I know manage to look a million dollars on a shoestring budget. Their skills lie in knowing exactly where to shop in order to find the best bargains, and having the skills to be able to haggle in the right shops," said George Charles, spokesperson of VoucherCodesPro.co.uk.