Handbags should match how you dress and your lifestyle
Before buying any handbag, think about your wardrobe and lifestyle. Are you more sophisticated with a polished look? Do you have a corporate job and attend a lot of work events and travel for work? Or, do you have more a casual work environment, like a yoga studio or spa? Your handbag should reflect the way you dress and fit your lifestyle as well. If you hit the clubs on a regular basis you will probably have different needs than a mother of three (then again, maybe not!).

Think about what you want or need to bring with you. If you only care about the bare essentials (id, cell, mad cash and lipgloss) or are you a walking drugstore? Deciding which handbag is worth the investment is unique to each woman. Some women strictly follow seasonal trends, while others confine themselves to specific handbag sizes (e.g., I could never carry a small clutch/oversized bag).

If you’re stuck in a handbag rut, the best way to get out of it is to try something new! Here’s an overview of the most common handbag styles. Choose one that fits your personality.

Choosing the right handbag for your body type
Even though you don’t actually wear a handbag, you’re carrying it up against your body, so it shouldn’t be out of proportion with your body type.

It may seem counterintuitive but fashion experts advise choosing a shape that’s the opposite of your body type. If you’re tall and thin, a slouchy, rounded hobo bag will compliment your figure. If you’re shorter and curvy, choosing a handbag that’s longer and more rectangular or long and sleek like a clutch looks best.

The rounder your figure, the more structured the bag. But you don’t have to go severe—rectangular or square shapes in soft leathers will offer a complimentary silhouette.

On the other hand, the size of the bag should be in proportion to your figure. Think about it, if you’re 5’10” a mini handbag would look out of place. Likewise a 4’11” with a humongous oversized bag the size of a TV would look equally silly.

And keep in mind that a handbag’s length—where the bottom hits your body—will accentuate whatever part of the body it comes near (eyes are drawn to the bag). The most popular length is mid torso because it flatters the waist.

Handbag Styles
A handbag is a handbag right? Wrong! There are many different styles out there. Here’s a quick look at the most popular styles right now.

The Shoulder Bag: With the exception of clutches and handheld bags (bags with handles too small or short to be worn over the shoulder), most handbags fit into this category. Every woman should have at least one shoulder bag in her wardrobe. They’re practical (but that doesn’t mean that can’t be stylish!) and come in handy on shopping trips, out running errands or for the office. They free up your hands to carry other items.

Here are examples of shoulder bags:

Hobo bags: A crescent-shaped, usually unstructured bag. But that’s not always the case. Modern variations include more structured hobo bags, drawstring hobos, skinny styles, even square hobos and bucket hobos.

Totes: Totes are roomy bags, usually rectangular with single or double straps. Totes are available in structured and unstructured styles.

Satchels: Satchel bags are typically small to medium-sized zip-top bags that usually wider than long. They can be structured or unstructured and have shoulder straps or be hand-held. Hand-held satchels are often referred to as bowler bags.

Barrel Bag: Like the name implies, a barrel bag is cylindrical and resembles a barrel turned on its side, often with a long, thin shoulder strap.

Flap-enclosure bags: Flap style shoulder bags have a flap enclosure that folds over, typically about midway down the front of the bag, with a clasp, turn-key, snap, or other fastener. Check out the Flatiron long shoulder bag pictured in the gallery below.

Cinched and Drawstring bags: The cinched or drawstring bag is a fun variation of the shoulder bag. They gather at the top in place of a flap or zip top. The Bulga Brown leather ’Krystal’ cinched bag and the Christian Dior black lambskin ’Cannage’ quilted large tote are examples (see pictures below) .

Quilted bags: Quilted leather bags are a popular leather handbag style that incorporates the quilted texture into fine leather, like the Balenciaga (pictured below) ivory quilted goatskin “Matelasse” small bag.

What does your handbag say about you?
Like the clothes you wear, your handbag sends a message. Whatever style handbag you carry, make sure that you take good care of it and keep it well organized. If you take your bag with you to meetings and you’re always riffling around looking for pens through a scuffed up handbag, you won’t send a good message.

In general you can gauge pretty accurately a women’s level of "flashiness" by her handbag. If she’s carrying a zebra print bag, she wants to get noticed. Chances are she’s single and likes to take chances. A woman with a humongous tote that’s virtually empty, spare the essentials, enjoys being pampered and knows what she wants. On the other hand, a girl whose handbag is filled to the brim is on the go and doesn’t like to be left unprepared. She could have kids, too, so having a mobile drugstore comes in handy.

Girls with tiny handbags don’t like being saddled down. They don’t want a bulky handbag keeping them from having a good time. They may also find it difficult to find anything in a big bag and work off the notion that anything she needs can fit into a small clutch or purse. Outside of that, she can turn to her friends with the big bags! But don’t let these generalizations keep you from buying the kind of handbag you like.

When it comes down to it, your handbag should fit your lifestyle. And that doesn’t mean it has to be a big and bulky utilitarian duffel bag or a $3,000 handbag. For example, a Coach or Dooney & Bourke purse is sturdy and practical, and not flashy. These are great "starter" handbags or handbags for younger women or moms on the go. The reasonal price points make them very popular.

Stepping it up a notch are Marc Jacobs and Michael Kors. The prices range from the mid-price range ($400) to expensive (over $1,000), so there are a lot of choices depending on your budget and needs. These bags are also sturdy, roomy and practical.

If you’re all about luxury and live in areas where status counts or you simply demand the very best, brands like Gucci, Louis Vuitton, Fendi, Prada, LAMB by Gwen Stefani, and Hermes feature exotic and look-at-me designs.

Fendi, in particular, is making exciting design innovations. I think for a long time Fendi was boring, but their recent styles are really exciting, appropriate for the next generation of fashionistas. My only major disappointment is that most of their hottest styles aren’t available online, so you’ll have to find a boutique. eLuxury.com (owned by LVMH) carries a few styles.

What makes a handbag classic
A classic handbag is not about trends. This bag will remain in your closet for years, if not decades. Its timelessness is characterized by quality craftsmanship, practicality and style.

A classic handbag is made of the finest leather, is expertly stitched and is secured with quality hardware. If properly cared for, a classic handbag can remain a treasured piece for years.

Different types of leather handbags
When it comes to handbags, it pays to know your leathers.

Patent leather: Patent leather has been given a high gloss, shiny finish. The original process was developed in 1818 using a linseed oil–based lacquer coating. Modern patent leather usually has a plastic coating.

Crackled leather: Crackled leather is a technique that gives leather handbags a more texturized, vintage look. The effects can be dramatic or subtle.

Calfskin: Because the leather comes from a calf, the leather is softer, more supple and smooth, almost buttery. Calfskin is used to make fine handbags.

Lambskin: This is more rare type of leather used but the result is an extremely soft leather, similar to calfskin.

Fake designer handbags
Okay, so $1,500 for a handbag is a lot of money to most people, myself included, but buying a knockoff bag is a territory I dare not venture. Even if you get a counterfeit bag that seems indistinguishable from the real deal, you’re supporting crime and let’s face it—those in-the-know, will know.

On the other hand, I see nothing wrong with buying a less expensive bag that’s reminiscent of the style of a couture brand. A quality leather bag is a quality leather bag no matter who makes it—as long as you’re not stamping LV monograms on it (unless of course you’re Marc Jacobs).

Guide contributed by Peter Belisi whose range of exclusive handbags is available from Belisi.com.