As the holiday season approaches, some shoppers are feeling overwhelmed, especially those who want to give luxurious gifts to the special women in their life. With the economy flagging and petty cash reserves low, high-quality gift giving seems like it could be tough this year.

Or not.

Contrary to popular belief, giving a luxurious gift doesn't have to mean breaking the bank. In fact, simplicity is often the most luxurious thing you can buy.

"Luxury is not always about price," says Marian Goodman, vice president of personal shopping for Bloomingdales. To her, serious bling and luxury simply don't have to go hand in hand; the perfect gift could just be indulging a fantasy. "It may be a item that the receiver may never think of buying for themselves but would love to own." Maybe your special lady gravitates toward the art section of the bookstore to pore over thick books of photographs but never actually purchases any of them. A brand new copy of one of her favorite photographers could be just right.

"Great quality and exceptional design are key elements to look for when giving a luxurious gift," says Goodman, and notes that great design can be found at many price levels. "A good gift for a special woman in your life is something just for them, that makes them feel appreciated," Goodman says. "A fabulous pair of gloves, like the black fur-lined pair from UGG is a great option that offers a quick and affordable gift. Any cashmere item from sweaters to scarves, available at a great price point are great gifts that offer luxury and affordability." Such items fulfill the "good design" requirement, but it's important to remember that not all good design is found inside department stores. A tasteful antique pitcher found at an antique store or a personalized piece of jewelry from a local artisan are also options that prove items of luxury simply don't have to cost a fortune.

For Grace Bonney, author of the popular design blog, Design*Sponge, it's all about personalizing. "It's tough to put modern women into one category of gifts, but I think a gift that reflects her personal taste is always in style." Bonney also believes that a gift that allows for some "me" time can never go wrong. "I usually suggest something that allows her to relax in a way that's appropriate for her, whether that's a cooking lesson, a spa visit, or a backpacking trip."

Bonney says that you put your mind to it and observe closely what your special gal-be it your daughter, wife, girlfriend or aunt-likes to do, you'll find plenty of gift ideas. "Every woman is different. Try to think about what she does when she has free time to herself and consider gifting her a luxurious version of that activity." If your daughter has always wanted to try riding horses, finding an affordable package at the nearest ranch is sure to be a hit. If money allows, take any spa package or outdoor activity and make it a weekend getaway trip. As Goodman suggests, the most luxurious (and one of the simplest) gifts a person can give is their time and attention.

If time is short and schedules don't allow a retreat, there's nothing wrong with wrapping up your gift and putting it under the tree. And, if you employ the personal shopping services that many stores offer around the holidays and throughout the year, you might be able to find that gift without wandering through stores for hours on end.

"One of the most affordable luxuries Bloomingdale's has to offer is the time, energy and assistance of the personal shopping staff, offered complimentary to the customer," Goodman says. "Our customers can rely on the personal shopping service, giving them the luxury of more time in their life to spend with friends and family."

Bonney agrees that personal shopping can be the ticket, and maybe even part of the gift itself. "Consider something beyond a single item, perhaps a day with a personal shopper to pick out a great outfit for a day out on the town. Or a special guided tour through a museum followed by a gift of affordable artwork from an up and coming artist on [craft site] Etsy."

Indeed, a homemade, handmade gift usually takes top honors, since it takes the luxury of time - your time - to create. To Bonney, that makes a homemade gift the most luxurious of them all.

"My first and strongest suggestion is always to make something yourself," she says. "Whether it's a love note, a flower arrangement you pick yourself, or a special meal that reminds you of a time you shared together, something handmade and thoughtful always trumps a store-bought gift in my book. They don't cost a lot of money and the lasting impact is way greater than a new pair of earrings."

Whether your special lady fancies jewelry (either handmade or store-bought), a new tech gadget, free time for herself, or just extra attention from you, gifting luxury this season is easy if you're paying attention. Of course, if all else fails, Goodman reminds us, "I've never known a woman to turn down a Chanel bag!"