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If a $300 sweater has sleeves that hang past your hands, you're not going to look great in it. The best way to look great in any sweater is to find the brands that fit you best, then stick with them. Make sure the fabric fits close to your body without feeling restrictive. Aim on having the sleeves end at your wrists and the hem end at your waist.  Unfortunately, all manufacturers have different fits. It depends on the model they use when making the clothing. You might find that a sweater from a high-end designer fits you much more poorly than one from the general store around the corner. Larger manufacturers tend to make sweaters that fit as many people as possible. That means you often don't get a great fit. To get a better fit, consider going to higher-end department stores and trying on different brands. Sometimes you can purchase a sweater and get it altered to fit better. The work is difficult, so most tailors don't bother with it. If you really like a sweater, though, you might be able to find an expert tailor that can help. Bulky sweaters generally aren't a good choice when you're trying to look stylish. A big, puffy sweater doesn't pair well with most clothing. You end up needing bulkier pants in order to match it, which makes you look even bigger. For that reason, save your big sweaters for the most casual occasions, including times when you're out in the cold.  For example, a thick cable knit sweater is a fine choice when you're at home or when you're sitting around a campfire. It's not recommended for date night or office work. You can't really put a jacket over a bulky sweater since it makes you look like a ball of fabric. Thick sweaters are meant to be worn as is with little adornment. Put on a thick pair of jeans and some boots, then brave the cold. Fitted sweaters are far more versatile than bulkier sweaters and are a fashionable choice in most situations. Since these sweaters are thinner, they are a better choice for spring and autumn weather than harsh winters. However, there are a wide variety of fitted sweaters available, so you can always find something to customize into an outfit you're proud to wear in public. For instance, you might get a nice turtleneck to wear at semi-formal events. You could also put on a nice cardigan for a casual night out and then build upon it for a formal appointment.

Summary:
Find a sweater that fits you comfortably without hanging off your body. Select a bulky sweater for warmth and outdoor use. Pick a fitted sweater when you need to look stylish.