The bond between a girl and her bag is highly significant, so when it's time to purchase a new one, the selection process is always very personal. After all, unlike with a pet or boyfriend, your chosen arm companion will be by your side day and night, signifying your taste and point of view from the crook of your arm. All things considered, it's no wonder that so many women are willing to splurge on their handbag du jour!

Just in case you're planning on procuring a purse in the near future, we figured you might like to know what shapes and styles your favorite celebrity muses are carrying. Of course, while their selections are wonderful inspirational references, you obviously don't need to dip into your savings account simply to look good. We found scads of chic options with non-designer prices, so be sure check them out!

Claudia Schiffer: Dolce & Gabbana Miss Catch ($1795)
As a veteran supermodel and sophisticated tastemaker, Claudia Schiffer prefers pieces that are timeless, rather than trendy, to compliment her well-developed style. A case in point is the Dolce & Gabbana Miss Catch ($1795) bag we recently spotted Schiffer carrying while she was out and about in Notting Hill. Her perfectly prim satchel is from the designers' Fall 08 collection and no longer available, sadly, but try ASOS's Tuck Lock Across Body Bag ($20). This superb substitute has a similar neutral brown color and unfussy structure, which also makes it easy to wear it with a variety of different outfits!

Lindsay Lohan: Chanel Portabello Bag ($2295, 310.278.5505)
Lindsay Lohan's affinity for handbags is well documented, as the actress can always be found with something innovative, exclusive, and oversized in hand. Currently she can be found carrying an of-the-moment Chanel Portabello Bag ($2295, 310.278.5505)-a worthy choice indeed. On a significantly less-expensive note, we'll happily settle for Forever 21's Bravissima Oversized Tote ($30), as the double chain-detail and large shape qualify it as an ideal alternative!

Mary-Kate Olsen: Alexander Wang Handbag ($850)
We imagine that there's no finer compliment for a handbag designer than seeing Mary-Kate Olsen toting your creations. As such, the competition is fierce to get the latest and greatest purses into the style icons hands. Right now, Alexander Wang is leading the pack, as Olsen's been spotted in Manhattan with one of his amazing studded totes on her arm. The bag is as fresh as you can get-literally, it's from his upcoming Fall 2009 collection-and is not yet available to the public. Until it hits stores, we suggest carrying 7 For All Mankind's Metal Link Large Tote ($595) instead.

Kate Moss: Genevieve Jones Fringe Bag ($800)
Like most of the fashion-obsessed world, your WhoWhatWear.com editors have a bit of a monkey-see-monkey-do attitude toward Kate Moss. In other words, it's safe to assume we'll always look to her for wardrobe ideas and are keenly curious about her handbag choices. Most recently, we were intrigued by the site of Moss with an effortlessly cool fringe tote slung over her shoulder. Her Fringe Bag ($800) was created by socialite-turned-designer Genevieve Jones and adds some haute hippie flair to any outfit. We suspect you'll be pleased with the Topshop's Double Fringe Tote ($80) we found, as it's a close second to Moss' bag and equally awe-inspiring.

Agyness Deyn: Rebecca Minkoff Nikki Handbag ($583)
Agyness Deyn just can't seem to get enough of Rebecca Minkoff! In addition to selecting RM's Roadie in her Guest Editor story, the supermodel is constantly seen in-hand with the designer's latest styles. Last month, we spotted Deyn accessorizing with Rebecca Minkoff's Nikki Handbag ($583) in New York City and it immediately made our wish lists. The oversized structure and luxe blue color are simply fantastic and it's a perfect complement to Deyn's statement-making style. For a less expensive option that captures the essence of the purse, try Matt & Nat's Camden Bag ($275).

Mandy Moore: Proenza Schouler Medium Poncho Bag ($1595, 310.276.4400)
We consider Mandy Moore to be sort of an accidental trendsetter. The actress keeps a low profile, but anytime she does make a public appearance, our readers hound us for her outfit details. Just the other day, Moore surfaced in Los Angeles wearing a detective-like outfit (trench and Ray-Bans) and we received innumerous inquires about her strappy handbag. It pleases us to report that Moore was carrying Proenza Schouler's Medium Poncho Bag ($1595, 310.276.4400), similar to this one in Nudeflesh, a subtly stylish piece that perfectly coordinated with her entire undercover ensemble. Urban Outfitters' Sabina Leather Satchel ($245) and Carla Mancini's Whipstitch Double Handle Bag($546) are just as covertly cool, but come at a fraction of the price!

Pixie Geldof: D&G's Lily Bag ($825, 212.249.4100)
Rounding out our British hipster reporting, we also got the goods on Peaches Geldof. Always a consummate source for novel handbag inspiration, the it girl's bag-D & G's Lily Bag ($825) in hot pink-is the most eye-catching arm candy in today's story. The Lily is unavailable stateside in this electric hue, but if you love the shape, you can pick it up in gold at D&G boutiques (212.249.4100). If you'd rather not invest, check out ASOS' Ruffle Quilted Across Body Bag ($30) as a quintessential alternative!

Rachel Bilson: Temperley London's Hari Bag ($1695, 212.219.2929)
We'd venture to say we saved the best for last today, as Rachel Bilson's Temperley London Mata Hari Bag ($1695, 212.219.2929) is perfection manifested in a purse! The actress was spotted carrying the prize in Los Angeles earlier this week and ever since we've had a difficult time thinking of anything else. It's available in both the small and large size in gray at Temperley London's New York boutique (212.219.2929). Though we'll continue lusting over its plush black leather, medium size, and multi-zipper detail, we think Jack Rabbit's Kathleen Bag ($372) and Linea Pelle's Dylan Croco Shoulder Bag ($495) are excellent substitutes.-Jessica Amento

Of course, since this story is all about bags, we can't help but remind you of the truly amazing contest that's going on now. If you haven't entered yourself in the WhoWhatWear.com and Purseblog.com's Louis Vuitton luggage set giveaway, we suggest you do today! As always, you can receive additional chances to win by telling your friends-read all about it, here!

Photos of Claudia Schiffer, Lindsay Lohan, and Mandy Moore, INF. Photo of Agyness Deyn, Pacific Coast News. Photo of Mary-Kate Olsen, Splash News. Photos of Pixie Geldof and Rachel Bilson,WENN.