The siren song of the clearance rack can be hard to resist.

If the discount is deep enough, it can be tough to talk yourself out of buying something, especially if it's made by a covetable name brand. But a low price does not a bargain make.

Before you plunk down your cash for something that looks like a good deal, take a few key factors into consideration.

 
Ask yourself if it will work within your wardrobe

Most of us have heard that we shouldn't buy something unless we can build three outfits around it utilizing items from our own closets.

This is a decent rule of thumb, but can feel a little stifling.

Instead, go broader: Ask yourself if this item will work within your wardrobe.

Will the color fit within your existing palette? Does it make sense with other pieces you wear often?

Is this an item you love because it suits your style, or an item that you love because you wish you had the lifestyle and wardrobe to wear it?

If you can see this piece fitting seamlessly into your personal style, you've got a worthwhile purchase.

If the price is low, then you're staring down a bargain.

Figure in cleaning and potential alterations

Dry clean only items are far more expensive than their tagged prices would indicate.

If you plan to wear something once per month, multiply out for a year and add that number to the retail price.

It may make you think twice, Rock-bottom prices can sway us, even if the items in question don't fit perfectly off the rack.

A pair of designer jeans that fits great in the waist and costs a pittance but needs hemming is actually quite a bit more than its sticker price claims.

Focus on utility, not brand name

Designer and upscale brands are especially tempting, both for reasons of cachet and because we assume that costly brands make better goods.

And yes, there will be a quality chasm between a Gucci blazer and a Target blazer.

But that doesn't mean that plunking down hundreds of dollars for the Gucci blazer makes sense just because it's deeply discounted.

For an item to be a true bargain, it needs to be useful to you, specifically. And an impressive brand name seldom impacts utility.

If you're pondering an item that's unrelated to your everyday style, that may not get loads of wear, that will be costly to clean, and that's made by a fancy brand you don't normally buy?

It could turn out to be a wardrobe workhorse, and therefore, a real bargain.

But since that's unlikely, be sure to check the return policy before busting out the credit card.