Just because you can’t (or don’t want to) pay for the good stuff, doesn’t mean you can’t have on awesome cocktail party. Cosmopolitan Magazine has ideas for how to use a cheap box of wine. My favorite is the Muddled Melon, a mix of rose, chopped melon and lime, garnished with fresh mint.
A little creativity can spruce up a box of cheap wine, and lovely dresses can be had for under-$50. This Bailey dress is structured and modern. It also defines the waist beautifully.