Bundle Up and Save on Winter Coats -- Savings Experiment

Baby, it's cold outside, so you should think about snagging a deal on a great winter coat. Since stores start stocking their spring lines in February, the best time to cash in on sales is in December and January. However, if you've missed out on that window of opportunity, you can still save year-round with an all-in-one coat.

Convertible coats are essentially three pieces of outerwear, which you can layer and adjust according to the weather. Since this item can be used across several seasons, you're saving money by not having to buy multiple jackets.

A convertible jacket can be used as a winter coat, which generally costs around $80. For milder weather, you can wear the lining of the jacket as a lightweight fleece option. Then, when it's really coming down, the shell of a convertible jacket can be worn as a waterproof raincoat.

Purchased separately, these three items can add up to $200, but with the

convertible coat option, you can get all three styles for $31 at stores like Walmart.

The coat shown in our Savings Experiment video is of the sportier variety, but if you're looking for an alternative to the casual look, designer brands often include convertible coats in their collections, as well. With multiple ways to wear the piece, you're still cashing in on savings, even if the price tag is a little higher than a sporty convertible coat.

Keep your eyes peeled on sites like Overstock or eBay to find amazing deals. Depending on the brand and season, you could nab a stylish winter coat that will take you through fall, winter and spring.