But there might be even more of an incentive to avoid the high street this year: website VoucherCodes.com had reported big increases in the discounts made available exclusively to buyers online. A lot of the big high street shops, like Argos, Debenhams and Dorothy Perkins are already offering up to 25% off. So you could take advantage of these discounts to get yourself a Christmas outfit at the same time as sorting out presents. Very handy.

According to VoucherCodes, if you hold out on ordering gifts (or clothes) you’ve got a better chance of paying less, as discounts could go as high as 50% in December.

Alternatively, you could do what I’ve always wanted to do – wait till after Christmas and get everyone’s presents in the sales. But it might spoil the day a little: “Oh wow, you got me an IOU!” isn’t really what you want to hear when your mum opens her present.

Don’t get us wrong, we’re still really upset that the fashion world has, for now, lost such a talented designer, but we can’t help rejoicing the fact that the sudden collapse has bought on a mamouth Luella sale (we blame the credit crunch for our selfishness).

Many items online including purses, bags and dresses have been slashed by more than 50%, making this the designer bargain hunters sale of the year.

And to make up for our greed, we’re more than happy to join the Save Luella campaign on Facebook. We feel redeemed already.

Now, we’re not talking about low low prices here, but those of you who know how much Gucci and Prada bags cost, will understand why I’m so excited about this.

From tomorrow, and for three days only (ok now I sound like a DFS store advert), designer website BrandAlley is having a handbag sale.

It’s reducing a range of Miu Miu, Prada and Gucci bags by around £200 to £300.

We love the pictured red Miu Miu bag, which is now down to £479 from £700 and the white Gucci bag, which has been reduced from £1142 to £699.

Hmm I wonder if my bank will extend my overdraft, after all it’s for a good cause.

Listen up because today is the last day to get down to the Stella McCartney sample sale in New York! According to those who have already checked it out, you can find bikinis for $60, handbags priced from $193 to $280 and loads of shoes at varying prices. All items are marked between 50% and 80% off the original price – but if you get down there today you never know, prices might be slashed even further.

What: Stella McCartney sample sale (open to the public)
When: 15th July 2009, 9am to 6pm
Where: Metropolitan Pavilion, 125 West 18th Street, NYC (located between Sixth & Seventh Ave)

[Thanks RCFA]

Ruffles were all over the Screen Actors Guild Awards red carpet, with stars like Marisa Tomei and Teri Hatcher, above, taking part in the trend in a big way. Like the girlie appeal but don’t have a formal fete ahead? Well this dress from BCBGMaxAzria is a great way to interpret the red carpet look for everyday.

The lavender taffeta ruffled detail dress, $166.99, would make a great sun dress in the upcoming spring and summer months. The lines are clean and the color is subtle so the ruffle detail doesn’t come off as too fussy.

We found this number while perusing the Bluefly Bluesale, where dresses are up to 80% off.

[Red Carpet Images: Rex Features]

This Colette cardigan, $59.95 down from $118, is just perfect for someone with a vintage sensibility. It would accentuate some curves nicely. The It Prada lace has nothing on this Magic Words Blouse, $49.95 down from $98. And while there are several great spring dresses on sale, my favorite is this Iskaldur dress, $149.95 down from $298. I love the color and the print, which is a really understated take on floral. Even on sale it’s not the cheapest pick, but it is 100% silk with a silk lining as well.

Diane von Furstenberg has had some awesome sales on its Web site this year, and while this isn’t the mythic 80% off of recession dreams, it’s pretty darn close.

Click through for details on our picks.

Tiaroa Top in Fireworks, $49.50
Velo Top in Ivory & Black, $67.50
Postage Stamp Skirt in Gold, $67.50

We’re always looking for a cool leather jacket. It’s a luxe basic that can be incorporated into any wardrobe, so this Aminaka Wilmont leather biker jacket 50% off for $997.50 in the Net-a-Porter sale will probably go quickly.

What will make it go quicker? An extra 20% off. This week just enter the code WINTERUSA through Sunday, January 18, to get the extra savings on all clearance items.

An asymmetric closure and notch collar keep the style modern, while the cropped silhouette is classic. To keep it really fashion forward, avoid a full-on biker look and wear your leather jacket with the unexpected – jeans are the easy way out.

I recently got a fabulous deal on a green chiffon Tahari Christmas dress at Macy’s ($160 down to $30 thankyouverymuch) and so I want everyone to find a fabulous dress there! So that’s one reason I’m featuring the London Times Sleeveless Crossover-Waist Dress, $110, as our bargain party dress of the week.

Sure, it’s a LBD, but the shimmering charmeuse, crossover and pin tucking make it so much more!

The other reason I’m featuring it? Now through Monday Macy’s is extending their 20% employee discount to friends and family when you use this coupon:

Download the Macy’s Friends and Family Coupon!

Happy shopping!