We live in a world of highs and lows reflected in everything from our moods swings to our food choices.

Our appetites are varied, but it doesn't mean that we have to compromise our taste. There's something worthwhile to accommodate every budget and every whim.

The concept of cost per wear keeps coming up when people have to balance quantity versus quality, and it's a good thing to keep in mind when you're studying a new purchase. By the way, cost per wear is just another word for "bang for the buck."

If you buy a dress for $200 that you only wear once then you've spent $200 for a one-time thrill, but if you buy a jacket that costs $200 and wear it once a week for a year then you're looking at a less than $4 per wear.

The magic number for how much your outfit should cost per wear depends on you. But it's a nice way to judge some item you love that's a bit out of your usual price range or to rule out something you want that's just way too expensive.

If it's a spectacular, once-in-a-blue-moon splurge for a special occasion, make sure you love it and can afford it, and then don't look back.

If it's versatile and you plan to get your money's worth, imagine at least three different ways to wear it with items you already own.

The best splurges tend to be quality leather goods, jackets, jeans and dresses.

The best saves tend to be T-shirts, costume jewelry, casual scarves and nonathletic sneakers.

But don't think that buying a poorly constructed pair of shoes that you have to replace once a season for years is saving you money, explained Brian Smith of Moris Fashions. He said that a great pair of leather shoes is a practical investment and you'll keep them for years. He also said that people will notice the quality, and so will you.

Laurie Solet of her eponymously named boutique said that a splurge doesn't have to be obvious. She sells handbags that start under $100 and others that wander above $500. And she offers clothes and accessories for women looking to spend a lot or as little as $30.

She said it's OK if people can't guess which item you're wearing is most expensive.

Solet agreed that people too often consider price as the best factor to judge an item's worth.

But the truth is that if you look good and buy clothes that flatter your shape, people will assume quality (i.e. a higher price tag) in everything you wear.

See if you can tell the higher priced items on these models:

Budget or big ticket? Drape scarf jersey motorcycle-inspired jacket has several interesting details including longer sleeves with thumb holes.

But is it worth it? Jean leggings are so versatile they can be worn on casual or dressy days.

How much? Jeans can be a good investment, but do you need to spend a fortune on them?

High or low? Black sneakers for a touch of attitude.

Challenge

We highlighted a few items but didn't give the price. Can you figure out which are high-cost and which are low-cost? The answers are on Page L8

Yellow flutter-sleeved top (at Target) ......................................................... $17.99

Ring (at Laurie Solet).......................... $36

Charm necklace (at Target) ... $10.99

Studded black bootie (at Bronx Diba Shoe Outlet, Earth City) ...................... $149

high or low?

HIGH: Drape scarf jersey motorcycle-inspired jacket (at Laurie Solet)................................................... $180

LOW: Jean leggings (at H&M) $19.99

Mint green sweater (at H&M) $24.95

L.O.G.G. zip-front sweat shirt

(at H&M) ........................................... $39.95

high or low?

LOW: Sneakers (at Target)....... $14.99

HIGH: William Rast's Ben jeans

(at Moris Fashions) ............................. $225

Faux suede blazer by Copley (at Moris Fashions) .................................................................... $545

Violet graphic print T-shirt (at Target)......... $14.99

Black satin finish pants (at H&M).................... $39.95

Murray Oxford shoes by John Varvatos (at Moris Fashions) ....................................................... $450

Laurie Solet private label dress (at Laurie Solet ..................................................................... $160

Black faux leather wrap-belt (at H&M)........... $14.95

Skinny dark-rinse jeans (at Target) .................. $29.99

Medallion dangle earrings (at Laurie Solet) .......... $70

Peep-toe ballet flats .................................. $17.99

7-piece ring set (both at Target) ........................ $5.95

Distressed jean blazer ................................ $120

Black Tag jeans (at Laurie Solet, 1176 Town & Country Crossing Drive).................................................... $135

Long-sleeve tissue T-shirt.......................... $9.99

Black slip-ons............................................ $19.99

Set of 3 bangles (all at Target)........................ $12.99

Multi-colored scarf..................................... $9.95

Earrings (both at H&M).................................... $5.95

Military-style jacket by Converse............. $34.99

DC Comics T-shirt (both at Target)................... $12.99

John Varvatos button-fly jeans.................... $165

Prowler shoes by Hush Puppies (both at Moris Fashions, 26 Maryland Plaza) ................................... $140

Handbags

Brown sack with gold accents by Caliente ($84.95) from Bronx Diba Shoe Outlet

Pearl handbag by Melie Bianco ($86) at Laurie Solet

Black shoulder bag by Jose New York ($495) at Laurie Solet

Burgundy handbag by Kooba ($595) at Neiman Marcus

Purple clutch ($34.95) at Bronx Diba Shoe Outlet