2012's Hottest Fashion Trends: Look Good While You Save Big!

VIDEO: "Lucky" magazine contributor talks about the latest fashion trends.

It's a new year and you're probably making plans to make 2012 great.

One way to do that is to look your best. This morning on "Good Morning America," Lori Bergamotto of  Lucky magazine visited to give you the inside scoop about the must-have fashions that everyone will be wearing this year.

We showed you three pairs of models wearing similar looks - one the splurge, and the other, the budget-friendly save. So you'll be able to look as good as the model wearing the expensive look, but at a fraction of the cost.

 The Trend:  Vibrant Colored Pants

Bergamotto advised pairing  the pants with a white button-down shirt, classic jewelry and a handbag.

 Get the Look: The Splurge

St. John Red Pant, $395, Neiman Marcus, St. John white button down shirt, $395, Neiman Marcus

GEORGE GINA &LUCY Black "Stanna" tote, $395,  george-gina-lucy.com

Robert Lee Morris gold cuff, $675, robertleemorrisgallery.com

Milk and Honey strappy sandal, Approx $240, www.milkandhoneyshoes.com

Total: $2,100

 Get the Look:  The Save

Express Red Pant, $69.90, express.com

Uniqlo white button down shirt, $29.90, Uniqlo stores

H & M black tote, $49.90, hm.com

H & M gold bangle, $5.90; hm.com

MICHAEL Michael Kors strappy nude sandal, $98, www.piperlime.com

Total: $253.60

The Trend: Denim Blazer

Bergamotto said it's a very basic look that may be paired with a black pencil skirt and a lacey top.

 Get the Look: The Splurge

Tibi denim blazer, $495, www.tibi.com

Temperly "Aphrodite" white top with lace yoke, $550, shopbop.com

Rachel Roy black pencil skirt, $265

Hyden Yoo brown leather bag, 296, hydenyoo.com

Hamilton diamond studs, $695, hamiltonjewelers.com

Total: $2,301

 Get the Look: The Save

H &M denim blazer, $29.90

J. Crew white top with lace yoke, $58, jcrew.com

RACHEL by Rachel Roy black pencil skirt, $89

Lulu's brown leather bag, $64

Afaze faux diamond earrings, $7; afaze.com

Total: $247.90

The Trend: Leather Shorts

Bergamotto said this was a very fashion-forward look.

 Get the Look: The Splurge

Tibi tan leather short, $550; netaporter.com

Falke tights, $59; shopbop.com

St. John navy ribbed turtleneck 495, Bloomingdales.com

Hamilton 18K gold link bracelet, $1395; hamiltonjewelers.com

DITA "Savoy" sunglasses, $295, ditalegends.com

J.Crew MacAllistar desert boot, $198, jcrew.com

ZSpoke by Zac Posen red bag, $425, bloomingdales.com

Falke Tights - $69.90, saksfifthavenue.com

Total: $3,486.90

Get the Look: The Save

Lucca Couture faux leather short, $69.00; urbanoutfitters.com

Kushyfoot tights, $4.90; drugstores

Zara navy turtleneck, $35; zara.com

Privileged goldtone chain bracelet, $60; maxandchloe.com

Urban Outfitters sunglasses, $18; urbanoutfitters.com

Lulu's Red Bag; $41; lulus.com

Big Budda desert boot, $69.95, zappos.com

Total: $297.85

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