THE one thing I learned from this past week's financial drama is that you better spend your money properly.

If you're going to dish out the dough, make it worth it.

In this volatile situation, caution is best.

Of course, everything fashion is volatile too.

If you are itching to spend major money on a fashion item, think it through.

That $1,000 blouse you buy today will likely be deemed 'soooo five minutes ago' in a couple of months.

Personally, I'd rather buy cheap but nice clothes (wear and throw away, that's the idea), and splurge on bags and shoes.

I may be a leather-whore but well-made leather lasts. These should withstand the test of time and will prove to be investments.

A group of my friends disagree.

I am not a watch person but my friends who adore them insist that watches are the ultimate investments.

They argue that the value of most watches appreciate with time and serious collectors are willing to pay top dollar for rare watches.

I once held a million-dollar watch in my trembling hands. It was gorgeously sparkly, as expected, but, to me, it was just a watch.

Yet that timepiece evoked coos of envy.

I was told that the watch wouldn't be spending a lot of time inside the glass case. It would be snapped up almost instantly.

I am still undecided how I'll go if I had to choose between a timepiece and a croc-skin Birkin but I thought, this week, I might as well introduce some watches that might be worth collecting.

The cheaper watches are great if you're starting out and the ones here look like a million dollars.

And keep the names of the high-end ones in mind.

When the financial situation stabilises and if your year-end bonus package is generous enough, reward yourself.

Puma Star Podium	Guess City Lights	Bell & Ross
Here is a watch that looks more expensive than it is. The Puma Star Podium retails for $188 but it has sparkly stones and a croc-stamped leather strap. The width is 3cm, so it's a nice chunky watch for a sporty girl.	Here's another for girls who love sparkles. The Guess City Lights watch ($358) has over 300 Swarovski crystals on the bracelet. The colours are sparkly too: Sapphire blue, amethyst purple, and emerald green.	The Bell & Ross White Ceramic with Diamonds measures about 4cm in width with a ceramic plate, and a white mother-of-pearl dial. Bell & Ross is currently one of the hottest names in timepieces, so you'll make your frenemies sick with envy. The watch goes for - please sit down down - $11,700.
Omega Seamaster Diver 300m	BCBG max Azria
Each time a James Bond movie comes around, the Omega Seamster Diver 300m watch sells out. The new Bond movie Quantum of Solace is expected soon, so you know what to do. There are only 10,007 pieces of the current update, which features a lacquered black dial with black gold-plated hour markers. It's priced at $5,150	From the Spring/Summer '08 collection of watches by fashion label BCBG Max Azria comes this dainty thing, priced at $259. it's made out of stainless steel cases, signature clasps and accents, precision chronographs and leather straps.	PHOTOS: Arista Singapore, FJ Benjamin, Omega, Crystal Time

This article was first published in The New Paper on Sep 21, 2008.