Red: Love's Color

The hottest color this month is, of course, red: perfect for Valentine's Day.

And no matter what your Valentine plans are this year, you can look chic in anything from jeans to a full-length gown.

Suze Yalof Schwartz, the executive editor-at-large for Glamour magazine, puts The Early Show co-anchors Hannah Storm, Rene Syler and Harry Smith to the Chic on a Shoestring challenge with great looks that won't break the budget.

Warning: The outfits look so great, Harry gave up mid-way and let chance decide for him. Unfortunately, his strategy did not pay off. Rene was the winner!

Look No.1: Jeans, camisole and blouse
Nothing is more chic than a simple pair of blue jeans, a gold camisole and a sheer blouse. Pair a solid color cami with a bold blouse in eye-popping red to keep things clean and fresh-looking (never wear with a bra; only wear a camisole).

Splurge: On Model No. 1
Marc Jacobs Blouse $710
Shoes $500 by Sergio Rossi
Grand total: $1,210

Steal: On Model No. 2
Sele Blouse: $69
Steve Madden Shoes $79
Grand Total: $148

What's the Difference?
The Marc Jacobs blouse is 100 percent silk with hidden buttons (they're snaps!) And the camisole is 100 percent silk, but doesn't have lace or the detailing as the other one does.

The "steal" blouse is by Sele, made with acrylic fabric; The Banana Republic camisole is 100 percent silk with lace trim and detailed stitching.

Look No. 2: A Flirty Little Number
What could be more chic than a simple, flirty, feminine dress and sexy little shoe?

Steal: On Model No. 1
Kay Unger $330, Raspberry (found at Bloomingdale's)
Shoes: Nina (Macy's, Bloomingdale's) $85
Grand Total: $415

Splurge: On Model No. 2
Valentino $3,000 Tangerine (Jeffry's New York)
Shoes: Jimmy Choo $620
Grand Total: $3,620

What's the Difference?
Both are 100 percent silk, but one is made from Milan, and the other is made in Taiwan.

Look No. 3: Full-Length Red Gown
Make an entrance and slip into something long, lean, chic and red. This dress certainly will make a statement.

Splurge: On Model No. 1
Vera Wang red evening gown (Bloomingdales) $4,000
Earrings Judith Ripka $17,050
Grand Total: $21,050

Steal: on Model No. 2
Laundry by Shelly Segal evening gown (Macy's) $149.99
Earrings: RJ Graziano: $175
Grand Total: $342.99

What's the Difference?
The Vera Wang dress is more expensive than the Laundry dress because it's handmade of 100 percent silk, and 100 percent silk tulle.

The Laundry Dress is made in synthetic fabric.