A Fashionista's dilemma: Frugal or fabulous?

The iconic, designer-clad "Sex and the City" star, Carrie Bradshaw, once said, "I like my money right where I can see it-hanging in my closet." Any fashionista can relate to that statement, because it's way more fun than remembering when Carrie frivolously spent the money for her apartment down payment on a few new pairs of Manolos. In light of the recent economic downturn, many would advise that now is the time to be thrifty. The economical crisis forces recessionistas everywhere to make a frightening choice-will you be glum, or will you stay glam? I started to feel the financial crunch at the end of the summer. After having worked part-time, and interned on my days off, I thought I'd find my bank account soaring at an all-time high. However, when I received my statement, I realized I was wrong-very, very wrong. I couldn't fathom where all the money I earned had gone, but the dreaded letter made me face the harsh truth. $150 at Bloomingdales, $85 at Urban Outfitters, $70 at Forever 21, $98 at Lord & Taylor, $150 at the Lauren Merkin sample sale-the list was endless. Immediately I began to justify my spending with numerous variations of "But, I needed that" and "That was a once-in-a-lifetime bargain."

In response to this grim news, I decided to cut back. I began enlisting other fashion fiends who were hard up for cash in a "frock swap." This is where each girl would grab a few outfits she had already worn and swap it for something someone else had brought. Sadly, I soon realized that wearing a friend's hand-me-down was not the same as buying something new.

Next, I resorted to the dreaded outfit repeat. Once regarding the re-wear as a crime of fashion, I relented and accepted that it was a waste to buy something and just wear it once. I figured that if Michelle Obama could wear her teal inaugural Jimmy Choo pumps more than once, then I, a normal person, could also re-wear my clothes. Even the hypercritical Anna Wintour repeated her white and black floral dress by Carolina Herrera, and she has an annual clothing stipend of over $100,000! See, stars really are just like us.

I tried to save money-really, I did. For a while, I tried only buy things that I truly "needed." I stayed away from malls, magazines and online shopping sites. But much to my mother's dismay, I have ditched my responsible, fiscal approach and have reverted back to my old spending habits. In the end, I realized that shopping was more fun than saving. I admit, my approach may be irresponsible, but it certainly pays off-in shoes, handbags, clothes, and jewelry!

I now go to great lengths to hide my guilty-pleasure of shopping. I resort to paying half of the amount on my debit card, and the rest in cash so that there will be no trace of what I actually spend. I lie about the true cost of items when my dad inquires; usually I follow the 50 percent rule-I take the real price and cut it in half to get a more acceptable value, which I disclose and (usually) escape getting yelled at.

I've also been known to hide my new purchases in the trunk of the car so that my mom doesn't see that I've bought anything. I even hoard my recent buys in the back of my closet, because I feel better knowing I always have something new to wear. Admittedly, my bank account may be hurting, but I'm happy being an impulsive shopaholic. I think Bo Derek sums it up best when she said, "Whoever said money can't buy happiness simply doesn't know where to shop.