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These days, everyone wants the red carpet look without the million dollar price tag. If this sounds too good to be true, think again. Thanks to celebrity inspired jewelry, it's now possible for anyone to own the best on a budget.

The craze with celebrity inspired jewelry first began with the diamond engagement ring given by Ben Affleck to Jennifer Lopez. A large emerald-cut pink diamond takes center stage as the main focal point of this beauty. One each side, white baguette diamonds proudly accentuate the enormous center stone. Fans fell in love with this ring around the world, which lead to the demand for designers to recreate the ring in a look that anyone could afford. The result was a sterling silver creation featuring a large emerald-cut pink cubic zirconia center stone, which is accented by white baguette cubic zirconia on each side.

It wasn't long before the trend of wearing celebrity inspired engagement rings became the next big thing in fashion jewelry. When Nick Lachey proposed to Jessica Simpson, a beautiful pear-cut diamond ring came into style in a big way. This bold beauty dazzled the media and fans alike. With one diamond located on each side of the stunning pear-cut center stone, Simpson's new ring was as bright as the spotlight itself. Once again, designers came through with a creation that everyone could afford. A bold sterling silver band with a large white cubic zirconia pear-cut center stone, which is accented by white cubic zirconia on each side, began showing up on jewelry lovers around the globe.

When it came to trends, Lachey and Simpson weren't the only musical duo making their way into the line of celebrity inspired jewelry. Kevin Federline gave Britney Spears a stunning ring featuring a cushion-cut center diamond sitting atop a double row of connected diamond-encrusted bands. The inspired design was recreated in sterling silver and glistening white cubic zirconia. The cushion-cut center stone, which replicates a flawless diamond, sits boldly above a double band of cubic zirconia accents.

What line of celebrity inspired jewelry would be complete without a dazzling pair of earrings? As far as trend setters go, Oprah Winfrey is one of the best. Not only has she made a name for herself in the media, but also for her fantastic fashion sense. Oprah's famous pear drop diamond earrings won her fans over in a flash. The design features a round white diamond stud and a large pear-cut diamond dangling below. In an effort to recreate this stunning design, jewelry manufacturers released their own version done in affordable sterling silver. Like Oprah's authentic diamonds, the inspired earring features a round white cubic zirconia stud and a dramatic pear shaped cubic zirconia dangling below. Because the earring is available in cubic zirconia and sterling silver, fans can have the look of the real diamond earring for a lot less cash.

When it comes to red carpet wear, the styles are both dramatic and unique. Any woman who watches the annual award shows will probably agree that seeing the glamorous jewelry is one of the most interesting aspects of the red carpet arrivals. Not many can afford a million dollar ring or necklace, but most could afford that look if it were created in sterling silver and cubic zirconia. Thanks to celebrity designers, including Nolan Miller and Charles Winston, many of today's most expensive looks can be worn by those who only watch the red carpet from afar as opposed to actually walking on it.