Forget diamonds, a girl’s best friend is her bag. Not only are handbags the perfect addition to any outfit, but they also serve as an on-the-go safety deposit box. From money to make-up to a change of shoes, anything and everything a girl will ever need can be hidden away in her bag.

So to help make the best of this functional and stylish accessory, here are four of the hottest handbag trends of 2011:

The Drawstring

The ’70s are coming back strong and they’re bringing the drawstring bag back with them. Perfect for NYC subway rides, no one will ever get into your drawstring bag without you noticing. If you’re not afraid to go bold, check out this bag in a vibrant color such as tangerine orange, rouge red, or canary yellow.  And if you shy away from vibrant colors, shine with a metallic colored bag instead.

Steal:GUESS Sundance Drawstring Crossbody Bag, Macys, $79.99

Splurge:Cole Haan Village Denney Drawstring, Zappos.com, $348

The Satchel

There’s nothing sleeker then a satchel to polish your look. The perfect combination between professional and lady like, satchels have the power to spruce up any outfit. But be warned these bags are so spacious; you may be left looking like Mary Poppins. Find your favorite satchel in the hottest browns of the year: camel, chocolate or champagne. Or make heads turn and take notice with a beautifully bold purple colored satchel.

Steal:Daisy Fuentes Ruffled Satchel, Kohls, $58

Splurge:Michael Kors ‘Hamilton Chain’ Leather Satchel, Nordstrom, $298

The Hobo

Hobo bags are the ideal mix of simplicity and chicness. They’re comfortable and practical, while also looking mod and trendy. The hobo is a great choice for your work-bag and your day-out-on-the-town-with-the-girls bag.  When picking out your hobo bag, seek one that features the trendiest touches of the year, fringes and tassels.

Steal:Deena & Ozzy Moto Zip Hobo Bag, Urban Outfitters, $69

Splurge:Tory Burch Dean Metallic Hobo, Saks Fifth Avenue, $395

The Leopard Print Bag

From totes to clutches to everything in between any bag looks good in leopard print.  This attention grabbing print is the perfect way to spice up your little black dress or add some fun flair to your T-shirt and jeans. Bonus points if you’re able to mix in another trend of the season, a chain strap.

Steal:Leopard Print Leatherette Handbag, Forever 21, $22.80

Splurge: Cole Haan Capetown Jade Satchel, Endless.com, $243.03