Yesterday, I got an ad in my e-mail with the subject line "Versatile = Frugal." It caught my eye only because the word "frugal" was in the title, so I guess their advertising works. Being frugal is the new, cool thing after all.
They were advertising a "caftan" that could be worn as a dress, with pants , or with a skirt and a belt. Three whole outfits with one item of clothing! Amazing! And only $40! (And also ugly, in my opinion, but who am I to judge?)
I'm sorry, but buying a trendy piece of clothing that will be out of style next season is not frugal in any sense of the word. I'm not saying you shouldn't buy it - I think people should spend their money however they want to. They should just be responsible. If you budget your money and can afford that caftan and really love it, then go for it.
It might be frugal to buy a nice pair of classic black pants, the sort that will never go out of style and can be dressed up or dressed down. It's more frugal to not buy anything and make do with what you have.
Though I suppose if you're the sort who thinks nothing of dropping $150 on a new top, then yes, a $40 caftan is absolutely frugal.