On Monday it was finally made official: the U.S. is definitely in a recession. While most of us have been feeling the pinch for a while, the holidays bring an added challenge to stretch our dollars as far as we can. The good news is that from gift giving to decorating and dressing for parties, there are definitely stylish ways to celebrate this time of year on a tight budget. Learn a few tips after the jump.

Janet Jackson is not rescheduling any of her postponed concerts, so the Rock Witchu Tour is officially canceled. Maybe now she’ll realize her act is old and tired. [Perez Hilton]

Cuddle parties can be awkward. [Daily Bedpost]

Since we’re all trying to curb our spending, check out these ideas for dating on a budget. I’m all for staying home. [Your Tango]

Tina Fey’s glasses are more popular than Sarah Palin’s rimless specs. [New York]

Some celebs actually make affordable jewelry. Iman’s line is really beautiful. [Shine]

All the talk surrounding Reese Witherspoon’s jet-setting outfit made us love it all the more, so we decided to compile how to get the look on every budget. Were it not 80 degrees outside today, we would totally be rocking her style right now.