We can all suffer ‘room envy’ at the sight of those glamorous settings in magazines or on television, but emulating their style in our homes seems ever more impossible in these cash-strapped times.

“We’ve all become so much more style aware these days. There’s just so much inspiration all around us, from gorgeous film and TV locations through to those boutique hotels,” says Isobel McKenzie-Price, editorial director of Ideal Home magazine.

“But just because money’s a little tighter than before, it doesn’t mean we’re prepared to compromise when it comes to decorating our own homes.”

McKenzie-Price has interpreted the signature styles of interior designers Kelly Hoppen, Tricia Guild and Nicky Haslam in February’s issue using affordable high-street homeware and furnishings.

“The good news is that it doesn’t take a millionaire bank balance to achieve great style,” she says encouragingly.

“All you need to do is take inspiration from successful designers who use clever tricks that work just as well with high-street buys as they do with really high-end schemes.”

Together with some canny budget buys, she shows it’s not difficult to create a room that won’t just attract compliments but will also leave you feeling smug you haven’t bust the budget.

So take lessons from the designers and transform your home.

For Hoppen’s chic look…

Kelly Hoppen’s style is a fusion of east and west, combining simplicity with sumptuous textures and luxe finishes, and a colour palette of taupes, beiges and creams with black as a grounding, defining colour.

Creating symmetry is key to her streamlined, structured style and it helps create a calm, ordered interior for a living space.

She advises positioning furniture to line up neatly around an existing feature, such as a fireplace or window.

“Sofas should face one another and armchairs should be at a 45-degree angle to sofas,” she says.

When adding shelves, pictures and smaller pieces of furniture, position them in exact symmetry with the larger pieces of furniture, Hoppen adds.

Designer tips: Use the same paint colour on walls, woodwork and ceiling to create a seamless backdrop. Mix textures by teaming hard surfaces with soft fabrics, such as a lacquered table next to an upholstered sofa.

Accessorise boldly with oversized vases, big prints, huge arrangements of artificial flowers, and sculptural lighting.

Love the look: Start with taupe on all large areas, then add definition with lots of black, and finally lift the scheme with white accents. Paints such as Opulence Emulsion paint, Dark Truffle, £21.98 for 2.5 litres from B&Q, and London Bridge, £19.50 for 2.5 litres from Graham & Brown would suit this look.

Make a statement with an L-shaped sofa, such as a Kivik sofa bed with footstool, from £904 from Ikea. Black and white accessories are essential: Spindle Table Lamp, £45, Tesco; Kelly Hoppen framed print, £64.50, and White Rose Cylinder Glass vase, £39.84, both from QVC.

For Haslam’s opulent glamour…

Nicky Haslam’s trademark style is all about charm and wit, combining classic elements with no-holds-barred modern glamour.

“Think theatre,” says Haslam. “Go for all-out opulence, glitz and glamour. Ornate fireplaces and delicate panelling will add to the whimsical feel. This style should really get people talking.”

For a dining room, use a classic combination of crisp white cotton for a tablecloth and linen upholstery, and then an injection of shimmer using silver-effect candelabra, crystal glassware and decanters.

Add sensual luxury with soft silks for curtains and cushions, and the finishing touch – an over-the-top floral centrepiece.

Designer tips: Over-scale or under-scale elements in a room make them a focal point. For example a large chandelier and a ceiling-high mirror will contrast with neat wall lights and tiny tea light holders.

Limit the number of accessories to avoid a cluttered effect, but choose items that are luxurious-looking such as etched glassware and silver napkin rings.

Love the look: For a cream look try Café Au Lait from Le Petit Palais range by Crown, £17.98 for 2.5 litres, and Colours by B&Q Matt paint, Water, £13.98 for 2.5 litres. And add delicate colour with Duck Egg silk emulsion, £14.49, from the Home of Colour range at Homebase.

Make subtle statements with a Mia Long Drop Acrylic & Gloss Fitting chandelier, £55.24 from Dunelm Mill and Bombay Single Wall (light) with pullstring, £16.98 from B&Q; Henriksdal chair, £79, cover £20, available in store, Ikea; Tesco basic faux silk cushion, duck egg, £6.

For Guild’s vibrant colour…

Tricia Guild, founder of Designers Guild, is known for her skilful colour combinations and innovative interpretations of style.

“No colour is too bold or too zingy,” she says. “Rev it up by choosing the brightest shades and then balance them with a high percentage of black and white.”

Don’t be afraid to mix modern and antique furniture, as well as vintage and new accessories, and create maximum impact by combining patterns of varying sizes rather than playing it safe with co-ordinates.

Designer tips: Customise inexpensive high-street buys to give them designer style, for instance try gluing bobble trim to the bottom edges of lampshades, trimming bed linen with lengths of satin ribbon or sewing a covered button on to the centre of a plain cushion.

Be creative in accessorising and go for statement lighting, colourful frames, unusual artwork and displays of garden flowers arranged in quirky containers from old jam jars to wine goblets.

Love the look: Choose from the Rock Candy palette of pinks by Dulux, which comes in a range of finishes and starts from £21.69 for 2.5 litres. Or go for a Just One Coat gloss paint in cream, Contemporary, £11.99 from Homebase and Beatrice Pink & Black Wallcovering, £13.98 per role, B&Q.

Refuse to play it safe, and mix up furniture shades, with a Linea 15 Pink Cotton Tapered drum shade, £11 from House of Fraser, and the ivory painted dressing table and chair Sophie Vanity set, £250 from Next.

Finally, dress a bed with a Medallion print bed set from £40 (Medallion printed pillows from £10, round medallion cushion £16) from Next.

Stylish sources

• B&Q: 0845 850 0175/www.diy.com
• Crown Paints: 0870 240 1127/www.crownpaint.co.uk
• Dulux: 0844 481 7817/www.dulux.co.uk
• Dunelm Mill: 0845 165 6565/www.dunelm-mill.com
• Graham Brown: 0800 328 8452/www.grahamandbrown.co.uk
• Homebase: 0845 600 2420/www.homebase.co.uk
• House of Fraser: 0870 160 7270/www.houseoffraser.co.uk
• Ikea: www.ikea.com
• Next: 0844 844 8000/www.next.co.uk
• QVC: www.qvcuk.com
• Tesco Direct: direct.tesco.com