Megan Meany: Fur, leather, chiffon, and crutching, Holy Cow! Now is that Cubic Zirconia because we are in a recession. Okay, so let's put these designers on the spot and ask them how you get the look for less.

Jill Stuart: Think when people are feeling down, the joy of dressing up, the art of dress, the fun of dressing up is really important.

Megan Meany: So, like better than prosaic, good clothes.

Jill Stuart: Yeah.

Adam Lippes: A really beautiful dark pair of jeans, if you own that you can pair that with a new top or a new blazer or a new coat that can take you almost anywhere.

Megan Meany: Okay, now let's hit the front row where the style pundits sit and get their true sense on how to save.

Hope Greenberg: I think people are going to reprioritize and I think people are going to shop smarter and people are going to look for things that are special.

Nole' Marin: Take something old, make it look new and be fabulous.

Megan Meany: how do you make it look new when it's old?

Nole' Marin: A little alteration, may be cut something off, maybe lengthen something, add a fur collar.

Suze Yalof Schwartz: You can actually go online and find out where all the sample sales are. You don't have to spend a lot of money to look chic.

Megan Meany: Now let's find out if the recession even applies to the rich and famous. To the rich and famous like yourself-bargain hunt.

Veronica Webb: That's why we are rich but we are not famous for bargain hunting.

Nikki Hilton: Just buying necessities.

Aisha Tyler: Obviously the designer collections for places like Target, K-Mart, Wal-Mart and --

Veronica Webb: Low pants.

Sophia Bush: I think it's really important for people to realize that fashion doesn't have to be expensive, to be fabulous.