Make room in your closet and clear out your makeup bag. We have some hot fashion and beauty picks--all $50 or less.

When it comes to the latest in fashion, you don't need to shell out big bucks. We enlisted the help of style expert Nicole Young to find some deals.

"Think about some unexpected places, places where you might not necessarily look for clothing. Maybe you go there for lingerie, or maybe you go there usually for accessories," Young suggests.

Take lingerie store Frederick's of Hollywood. We found some stylish shoes for only $36.

"There's famous designers out there putting similar shoes right now on the market for over $700, $800," Young says.

To save even more on trendy pieces, visit an off-price retailer. That's where Young snagged some larger than life sunglasses. "Channel your inner Jackie-O when it comes to your sunglasses and think nice, big, dark, chic frames."

Finally, stock up on products that are multi-use. For example, don't underestimate the power of a long, printed halter dress.

"With flip flops, you throw on right after you come out of the pool over your bikini. But you could completely amp the look up by switching the accessories, doing a higher-heeled shoe," Young says.

Beauty expert Jenn Falik tested well over 200 products this season. Some of her favorites are less than $50!

"We're seeing products that do two, three, four, even up to 25 different things that you need in your beauty routine," Falik says.

Vaseline Aloe Fresh Moisturizer is good for everyday use and has an SPF of 15. Hissy-Fit Tinted Moisturizer is great foundation with anti-aging properties, and Molton Brown's ultra-balm can be used for virtually anything.

"It's super hydrating. It's great on the lips. It's great to fake a manicure if your cuticles start to get a little bit ragged. It's great for split ends," Falik suggests.

You can pare down your makeup routine with a palette from Sephora. It contains over 200 hundred shadow-liner combinations plus blush. Finally, for sleek, summer hair, try no frizz by living proof. These styling products were created by MIT Scientists.

"Not only does it keep you from having any frizz whatsoever, but it makes your hair dry in half the time," Falik says.

Another great resource is www.overstock.com. You can find designer brands marked off by hundreds of dollars!