IN ideal times, I?d strut around in a custom-made Cifonelli suit worn with a bespoke Cenci shirt and shod in a pair of Carréducker loafers. But as everyone knows, the times are far from ideal, and spending the equivalent of a month?s ration of food for an orphanage on a single item of clothing may just incite a revolution.

Few of us have the chutzpah of fashion legend Karl Lagerfeld who, when asked about the recession by a reader in a recent Harper?s Bazaar piece, advised: ?Try to have sweet dreams and no recession nightmares. You have to find out if your husband is telling you to spend less during the crisis as an excuse.? You can almost hear the loud crack of his trademark abanico [folding fan] thwacking the hapless lady behind her ear.

The rest of us mere mortals have to do without the fan and face reality ? the world is wrenched into an economic crunch tighter than a Thierry Mugler basque. Some may argue that fiddling about with fashion and style when people are losing their livelihoods and being pushed out of their homes is a tad thoughtless (cue ?Do You Hear the People Sing?? from ?Les Misérables?). But what one wears and how one looks is an inescapable part of the contemporary socio-economic landscape.

Considering that the apparel and health and beauty sectors are multi-billion dollar industries that support millions of employees across the globe, the need to find a place for toggery and toiletries even during this slump should become a little more apparent. Not to mention the simple psychological boost induced by a nice new frock and apropos accessory.

So how does the economically challenged but still devoted denizen of le dernier cri handle all this? Hand me downs may help, but only if you share the same size and taste as your various kith and kin. A trip to the ukay-ukay used clothing souks might be another option, but only for those who have the spare time and stamina to hunt through tons of garments for that item that a) is something you actually like, b) is in your size, and c) doesn?t smell like its previous owner suffered an untoward death in a sewage treatment plant.

Compounding the problem for many of us is that we really haven?t had to deal with such a fiscal funk on this scale before. Past pecuniary pauses were generally brief and somewhat localized. This one, in contrast, is near-universal, and threatens to be with us for a fairly long stretch. Our grandparents may tell tales of how they had to walk three days up the mountains to haul down vines whose fibers they would pound, separate and weave into sacks as clothing for the next 11 years because that was all they had back then. But things are a little more fast-paced in our era, not to mention that golf courses and subdivisions have all but flattened those mountains.

With all these in mind, we?ve decided to seek style counsel from two of today?s chic-est fashion prodigies, to keep afloat with pizzazz amidst the global economic tsunami. Our first font of information is hot young designer Stacy Rodriguez, who?s been capturing kudos for her Glasnost line?s free-spirited take on couture. Our other resource, fashion innovator Amina Aranaz Alunan, is famed for her exuberantly designed, painstakingly crafted bags sold under the Aranaz label, which have found an enthusiastic market here and abroad. Both under thirty, they practice their craft with the flair and finesse of much more accomplished peers.

So we posed the challenge ? would it be possible for your average trendy lady to look a la mode without robbing the bank a la Madoff? We gave a realistic scenario ? come up with something to wear to an office party, cocktail-type gathering, or other similar affair ? and watched them go to work.

Stacy started out by envisioning who she?d be outfitting: ?Someone in her twenties or thirties, in vogue, but not too out there. Maybe a spirited single girl or a young mom, who wants to look fashionable, but not too flamboyant, and doesn?t want to spend tons of money for it.? Such a lass is totally Glasnost?s target market which is, in the designer?s words, ?meant for those who don?t want their clothes to cost too much, but also don?t want to sacrifice quality, style, or comfort.?

Indeed, most of the Glasnost collection consists of pieces distinguished by a stylish versatility, a point emphasized by Stacy as she began mocking up the dress, ?I chose this shade of royal blue because it stands out and is really elegant without being too bright and flamboyant. So you can definitely wear it more than once.? Her choice of material also conforms to this notion, a light cotton blend that looks cool enough to be worn to an outdoor afternoon get-together, but luxuriant enough to be suitable for a night on the town.

Another of Stacy?s hallmarks are her dresses? shape-shifting abilities. Indeed, Glasnost pieces can be worn in a variety of ways. The designer gathers up the folds of the garb to demonstrate how it can be draped one way or another to make a look that goes from a vampish off the shoulder style, to a more demure guise ideally suited for a business function.

The final creation is smart, sophisticated, and quite sexy. Best of all, an ensemble like this ? because of the simplicity of its construction and judicious choice of material ? comes in well under P2,000. Not too shabby for fantastic finery you can wear in many different ways, to many different occasions.

Rare is the lady who can leave the house without the appropriate purse on her person, and that?s where Amina Aranaz Alunan comes in. Ingenious detailing and painstakingly intricate craftsmanship distinguish all her handiwork for Aranaz, attributes that don?t necessarily translate easily into more economical iterations.

But Amina comes through with flying colors, literally. She shows a never-before-seen sketch of a bag from her new line, RIIR by Aranaz, a collaboration with the nongovernmental aid group Rags2Riches (RIIR ? the ?II? being the Roman numeral ?2?). As she describes it, ?[I have] teamed up with Rags2Riches to create an ?upcycled? bag collection which uses recycled materials to create designed pieces of greater value.?

A bag made from old rags doesn?t exactly sound runway-ready, but in the hands of a talented artist like Amina, the end result is reassuringly ritzy, resplendent with all the handmade niceties and rich hues that Aranaz fans go gaga over. The process wasn?t exactly easy, as Amina admits, ?Transforming trash into treasure poses a huge challenge to any designer. While working on this new collection for RIIR by Aranaz, I spent a few sleepless nights wracking my brains on how to use these otherwise pedestrian scrap fabrics and incorporate them into the pieces with the stylishness and intricate techniques that Aranaz is all about.?

Judging by the end result, the fashion-induced insomnia was well warranted, as this particular bag, otherwise known as the Pom-pom, is a triumph of substance and style. All for the very un-Aranaz price ranging from P850 to about P2,000 for the bags from the RIIR line.

So what have we learned from all this, style studes? First, fashion consciousness doesn?t have to cost an arm and a leg. You can look quite lovely and be kind to your budget at the same time. This leads to the second point: in these challenging times, ingenuity counts for a lot. Find new ways to use old stuff, be they well-worn duds, erstwhile-unnoticed material, or other fashion sources you can remake into something eye-catching. As Amina Aranaz Alunan advises, ?When recession strikes: push your style creativity to the limits!?

Lastly, when thinking about your threads, becoming savvy to what sort of styles suit you is best. As Yves St. Laurent once proclaimed, ?Fashion changes. Style endures.? And what better way to wrap things up with a thought shared by Stacy Rodriguez, ?In the end, what matters is you. Be creative. Be sensible. Be Yourself.? ?