Leonard Lauder, chairman of Estee Lauder, coined the phrase “Lipstick Index" in 2001, to explain the rise in lipstick sales after 9/11. Now the Financial Times is telling us, "In this recession, foundation is the cosmetic to watch." This season, according to Kline & Company, woman want flawless skin as proven by the 2.5% rise in liquid foundation sales.

It’s hard to argue with statistics. When the times get tough, we all want to splurge on little luxuries. Let's face it; a sexy pout is cheaper than an alluring new dress. Are you craving the perfect shimmery eye shadow, the sultriest red lip possible, and the biggest darkest eyelashes imaginable? You could head over to your favorite department store's cosmetics counter and run up your credit card. Not a smart move with Christmas around the corner. So why don't you stay both chic and cheap -- hit up your neighborhood drugstore. That’s right, I said drugstore; where all of this season's hottest trends are available sans the high price tags.

So what do you need to revamp your makeup bag? According to Mathew Nigara, cosmetic artist to the stars, “Last year, makeup trends were more structured and a bit more classic. This season is all about luxury and over-the-top glamour.”

So bling up your makeup bag -- at these prices you can afford to experiment a little. Perhaps with all the money you saved on these fabulous beauty finds you can afford that slinky new dress after all. Happy shopping!

Best basic foundation: Try Maybelline New York’s Dream Matte Mousse Makeup. Your skin will feel soft and weightless and you can’t beat the amazing airbrush finish.

Best dark lip gloss: Maybelline New York’s Color Sensational lip gloss in Cranberry Cocktail or Plum-Tastic has honey nectar in it which leaves your lips feeling nourished but best of all, the colors are phenomenal.

Best hot red lipstick: You can’t beat a classic red lip and every girl should have at least one tube of red lipstick in her arsenal. If such a bold lip scares you N.Y.C New York Color’s Ultra Moist Lip Wear in Sheer Red is a great choice. Not only is the color great but at just under a dollar can’t go wrong.

Best sparkly eye shadow: For a soft and sophisticated look or a dramatic over the top smoky eye, Miliani’s Runway Eyes is perfect in either Backstage Basics (a collection of pearl, black, silvers and charcoals) or Couture in Purples.

Best volumizing mascara: Covergirl’s Lash Blast Volume Blasting Mascara is great for long sexy eyelashes. Try their newest mascara, Lash Blast Luxe which is tinted with luxe shimmers for the perfect holiday eyes.

Best soft pink gloss: Neutrogena’s Moisture Shine Gloss in Groove leaves lips feeling healthy and soft rather than sticky. The light pink color is perfect for all your more natural day looks or to tone down some seriously metallic eyes.

Best professional style makeup brushes: Sure you could use your fingers or those little spongy applicators that are found in the compact, but for makeup artist results you need a good brush. The drug store chain CVS has its own beauty line called Essence of Beauty which offered a six pack of makeup brushes which should cover all your makeup needs. The best part is that each brush is labeled, so you know which to use for blush, powder etc.

available at CVS Pharmacy or cvs.com.