don't buy expensive jerseys they don't feel any different then cheap $20 ones, the same is true with socks; but don't apply that logic with cycling shorts or you could be paying for with butt pain.
Of course always try to buy stuff on closeout sales at the end of the year, you can save a lot of money, I never pay more than $30 for a tire yet I routinely get tires that normally sold for $50 and up; so shop late in the year for stuff you think you might need next year. I'm always looking for sales for stuff I need and I usually end up saving at least 45% from regular prices.
Another cost saving tip, there is no need to replace your cables every season like most bike shops will try to get you to do or even people I've read on the forums try to proclaim, my cables all last at least 8 years before needing replacing, and on my main bike that's about 4,000 miles a year and those cables are still good after 4 years with about 16,000 miles on them. Also there is no reason to change your rear gear cluster everytime you replace your chain, the rear gear cluster should last 3 times longer than the chain, so on the third chain replacement that's when the gear cluster should be seriously looked at.
Another cost saving tip...maintain, maintain, maintain and clean, clean, clean your bike. You need to make sure that you are keeping your chains cleaned and lubed, do that and your chains will last a lot longer, wipe down your chain after every ride clean and relube after about 250 miles unless exposed to rain then clean and relube immediately after the ride. Keep the sprockets and gears clean as well, clean the dirt off the derailleurs and put a drop of lube on the pivots of the derailleurs. A tough duty sponge with water and Dawn for dishes (not the lemon, the acid in the citrus could damage bike parts) will clean your chain and sprockets quite well so you don't really need any expensive chemicals to do the job. Keeping your bike maintained and clean will keep long term repair cost low.