As of late, the fashionista has been replaced by the "recessionistas," a woman who loves to look great and still succeeds at doing so given the current economic reality. With that said, what are some of the credit crunch-friendly fashion staples that can gives us more bang for our buck? At the top of this list are light, silk scarves in various patterns and colors—incredibly versatile accessories that have the power to complete many outfits and even other accessories.

If you need a break from your plain leather belt, tie a scarf around your waist. It’s a great way to add some color to your jeans or a solid colored dress. Fold the scarf either into a long thin strip or into a triangle that sits off-center on your hip. You can even use it create a faux empire waist on a loose fitting top by tying the scarf right below the bust, letting the ends hang loose off-center.

Scarves are a creative, beautiful way to tie back your hair. Fold the scarf into a strip, position it on your hair like you would a headband and tie the two ends together at the nape of your neck. If you have a large scarf, use it for an urban head wrap, which is both beautiful and practical--a must-have for rainy or bad-hair days. Scarves are also a comfortable alternative to headbands, which often have teeth for holding your hair or cut off your circulation if fitted too tightly around your head.

Tying a scarf is around your neck may be the most traditional way to wear this accessory, but it is certainly not an outdated one. If you are looking for a way to spice up your pencil skirt and button down shirt combination, then a scarf tied around the neck is your answer. Taking the bore out of business war, this is a guaranteed way to create a look that is stylish, yet classy and professional. Neck scarves are equally suitable for casual looks. If you want to add a boho-chic touch to your ensemble, wear a scarf with a simple tank and jeans.

Most women’s "investment bag" is something rather plain, understated and not overly trendy, which will match many different garments and will stay in style for a while. With that said, such ‘smart’ bags are easy to get tired of, especially if worn on a daily basis. This is where scarves come in particularly handy. Tie them in a loop or bow around one of the handles to add a splash of pattern and color to your tote or satchel.