Bay Garnett and Kira Jolliffe have never been to an Oxfam they didn't love. Or a Salvation Army or a Goodwill, for that matter. The editors of Cheap Date, the British fashion (or anti-fashion, depending on how you look at it) mag with the cult following, have long been supporters of DIY style, be it high-end or culled from the bottom of the dollar bin. Now, after years of threatening to, they've finally assembled their collective thoughts on all things modish into one handy volume, "The Cheap Date Guide to Style" (Universe). We checked in with Garnett on the eve of its American publication to talk about red-carpet horrors, how to be true to your fashion self, and what she really wants to wear now.

So how did the book come about?

Kira and I always wanted to do a book. We couldn't stand the kind of style books that were out, that were based around celebrities dressing up and looking fake and dull. Style for us was always about individuality, being inspired by everything from punk rock to movies to absolutely anything—but in your own way. Not being dictated to, and definitely not aspiring to look like a celebrity on a red carpet, or a celebrity obsessed with big new expensive handbags, horrid jeans, and sunglasses. That seemed to be all there was out there. So that's where the book idea came from. A bit reactionary, I suppose.

What's the best bargain you've ever found?

A seventies Dior cape, which was cheap. A banana top that Chloé copied for its summer print about four years ago. A Ralph Lauren velvet jacket with a gold crest on the pocket. So much stuff!

As you point out in the book, style can't be bought. How, then, can it be acquired? In fact, can it be acquired at all?

I don't think GREAT or original style can be bought. But I do think there are different ways of looking at clothes, and definitely being more stylish because of it. It's about filtering information, absorbing stuff, getting away from being dictated to, and not buying into fads and trends. This automatically makes someone more stylish, I think.

You also caution readers to, ahem, "beware the insane language of fashion journalism." What exactly do you mean by that?

Fashion journalists can write nonsense sometimes. Of course there is fantastic fashion journalism. But sometimes it seems to be just page filler that preys on women's insecurities.

Who's the most stylish person you've ever met?

Probably Anita Pallenberg or Chloë Sevigny. They both have such originality and individuality. They're completely independent in the way they dress, and it is such an expression of them as people.

What do you really want to buy at the moment?

Good quality stuff: a beautiful cashmere jumper. I have a baby and I'm pregnant again. I don't have time to thrift, but now I do what other people have been doing for years—buying one simple beautiful thing. The last thing I bought that I loved was a black Yves Saint Laurent patent leather jacket—very "Belle de Jour."

What are you wearing today?

A big old Chanel sweater, Ugg boots, a cast around my arm as I broke it, long johns, and old jeans. This outfit is completely typical of me when I'm not working. I always wear my Stephen Sprouse leopard-print Louis Vuitton scarf, too, no matter where I'm going. It's about being warm and cozy.

Are the British really more stylish than Americans, as we're continually led to believe?

Not always. Americans can obviously have great style. I love how groomed and clean they are! The English are pretty slobby at heart, but they do have that punky thing. Maybe it's been lost, but you can't help but think of Westwood, the Clash—all this great wild style that came from the U.K.