I did this urban renewal project a while ago... I totally recommend renewing old clothes (if they're in good conditions!).. you not only save money, but also add your own creativity and personal signature to the outfit; besides it's fun and the result is lovel'ay!
This white plain jacket was boring until I decided to turn it into a military one... just go buy some buttons, string or cord of the kind you want; you can either use some satin ribbon any size; look for embellishments or military accessories, patches, sequins and stuff.. go nuts!
Here's what I did: