Does an adult need buy new clothes for the festival?

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Approaching to chinese Spring Festival, many people go to the cloth shop to buy new clothes.When we were young,we would expect to be over the Spring Festival.On the new day ,we can wear new clothes and get the money from the older.Now we are adult.Many people said that we grow up and has no need to buy new clothes.It just be a waste of money.Do you think so?How about you?