One of my favorite designers is Diane von Furstenberg. DVF has great ready-to-wear looks that can be worn just about anywhere and to any event. While there are some delightful pieces some of us really can't spend $1000 on an outfit from DVF.
Thakoon for Target just released the colorblock dress. This is one of my favorites from the GO International Collection. The colors are not exact and the style isn't necessarily the same but this dress reminds me of the DVF collection. The Dolce Vita sandals are also at Target, which is a bonus because you don't have to stop by another store to find a cute sandal! Target has a complete head-to-toe look for just around $100.
Becoming a budget babe isn't always easy. I would start with wandering through local boutiques and department stores (without any debit and credit cards). Take your time looking through all the racks and analyzing the materials and fit of what you find. You may end up finding that one special piece that is similar to something you were obsessing over in a magazine. The only difference is that it may be a slightly different cut, different length, different name brand, and one of the most important- a lower price tag.