Well, assuming that prices and costs of living in Metropolis are similar to New York, we can make some guesses about what Lois's finances are like. We know that Clark's apartment, which was a dump when he rented it was going for $900 a month in 1993. Lois's apartment, presumably was somewhat more pricy.

According to this site:
http://nyjobsource.com/salary/media.html

The average new york reporter earns $59,440 a year.

According to the inflation calculator, found here:

http://www.westegg.com/inflation/

$59,440 in 2009 would be worth $41,429.44 in 1995.

Assuming Lois's salary isn't hugely greater than other reporters, she was making a little over $40,000 a year. Her rent may have been as high as $1500 a month (or $18,000 a year.)

Could she have afforded Prada? Maybe...but I doubt she could have filled her whole warddrobe with it.

We even have an idea about how much Lois had saved up. She bid on Superman at the Superman auction with money she'd planned on using for a Tahiti vacation. I don't remember how much money that was. Maybe someone else can enlighten us?