It will be hard for anyone to upstage the stylish First Lady Michelle Obama on Tuesday night, but you can be sure the Inaugural Ball will be full of fabulous gowns. I, sadly, won't be joining Oprah and the Washington, D.C. V.I.P. crowd at the event, but that isn't going to stop me from picking out an outfit just the same. Should an invite magically find its way to me, I'll be ready with a dress like one of the budget-friendly formal picks I've rounded up here.

From black and white dresses to jeweled belts and mermaid silhouettes, we got a sneak peek at some of the hottest spring trends at last night's Golden Globes. And while each dress on the red carpet was a one-of-a-kind creation, it won't be long before you can buy knock-offs of your favorites. So, who do you think wore the dress that is destined to be copied the most? Check out some of the hottest red carpet trends, and sound off in this star-studded poll.

The news around the world is so bleak these days, we can't help but want to be distracted by frivolity (American Idol can't come fast enough!). This need for fun escape - and the fact that we know she'll look fab - is why there's so much buzz surrounding Michelle Obama and her choice of Inauguration frock. Personally, I'm rooting for Maria Pinto, designer of many of Obama's campaign trail fashion wins, but I'm wondering who you'd pick for the big night.

Now that the presents have all been unwrapped, it's time for another holiday tradition: gift returns. I lucked out this year and don't have anything to return, but I've received more than my fair share of clothes that didn't fit or gift cards I would never use. To help you unload any unwanted gifts you may have received this year, I've put together this handy cheat sheet for gift returns and exchanges. No re-gifting allowed!