Casual But Chic

(CBS)  In the latest Chic On A Shoestring challenge, we take a look at casual summer outfits that will keep you looking good and your pockets full, even if you're just picking up groceries.

Linda Wells, the editor-in-chief at Allure magazine, visited The Early Show and challenged co-anchors Russ Mitchell, Hannah Storm and Julie Chen to identify expensive and affordable summer outfits and the game winner was Russ Mitchell.

Sporty
The sporty-yet-sophisticated look has a modish style playsuit that is '60s inspired. The outfit has a thick industrial zipper, top-stitching, self belt, pocket and mini.

• Splurge:
  Michael Kors cotton dress with zippers: $550
  Hogan sneakers: $345
  Gucci sunglasses: $170
  
  TOTAL COST: $1,065
  
  
• Steal:
  Express dress with zippers: $64
  Esprit sunglasses: $26
  Reebok sneakers: $48
  
  TOTAL COST: $138

Shopping/Daytime
Because you never know who you might run into while running errands on a Saturday, it's important to look chic while staying casual. Wells suggests wearing a pulled-together look and staying away from sweatpants to ensure better service at stores.

She says cargo pants were the favorite of the spring/summer 2003 runways and can be found in almost every store. Cargos are being translated in jackets and bags. They have also been reinvented using fabrics like satin and leather. Wells says you can dress them up or down, and use the pockets to store your credit cards, lipsticks or cellphone.

• Splurge:
  Marni pants: $540
  Marc Jacobs tank: $525
  Dolce & Gabbana sandals: $355
  Stella McCartney sunglasses: $220
  Emporio Armani bag: $398
  
  TOTAL COST: $2,038
  
  
• Steal:
  American Eagle tank: $16
  American Eagle pants: $39
  Esprit sunglasses: $28
  Nine West sandals: $59
  Jones New York bag: $62
  
  TOTAL COST: $204

Day to Evening
Wells says feminine skirts and jackets in pastel colors are big trend this season. And if you're not a lady who lunches, you can wear it to work, church or to dinner. The transition is easy from work to play, she says.

• Splurge:
  Marc Jacobs silk taffeta pintucked dress with halter tie: $3,300
  TSE cardigan: $395
  Marc Jacobs handbag: $595
  Marc Jacobs high heel mule with bow: $360
  
  TOTAL COST: $4,650
  
  
• Steal:
  Victoria's Secret cotton strapless sheath: $79
  GAP Cardigan: $29.50
  Nine West handbag: $39
  Guess high heel mule: $169
  
  Total: $316.50