Navigating the balance between feeling good, staying within your budget and looking your best for race day can be challenging. Few know this better than designer, stylist and Caufield Cup ambassador Lana Wilkinson. Thankfully, she’s got plenty of tips and tricks when it comes to choosing a look for the day.

Wilkinson views race day as an opportunity to experiment with bold colours and loud accessories – something you can’t easily do with your everyday wardrobe. “You can do something out of the box,” she says.

The Caulfield Cup sets the stage for the whole racing carnival and establishes the fashion tone for the season – it’s a time to get creative and playful. Here are Wilkinson’s top tips for re-styling old outfits, incorporating colour through accessories and, of course, feeling your best on the day.

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You don’t have to buy brand new

Race-day fashion can sometimes be financially out of reach. Wilkinson says she frequently turns to Style Theory as a sustainable and affordable option both for herself and her clients. The site allows you to rent designer dresses for a fraction of the cost, meaning you can wear pieces fresh off the runway without the usual price tag.

“It gives people that big fashion moment without breaking the bank,” Wilkinson says. It’s got a range of Australian and international brands, including Eliya the Label, Effie Kats, Rebecca Vallance and Scanlan Theodore. When hiring or borrowing online, Wilkinson favours ankle-length dresses or power suits. “When in doubt, pick something bold and statement,” she says.

Experiment with your accessories

Wilkinson predicts neon colours, metallic hues, and pops of butter yellow and red will dominate this year’s Caulfield Cup. A great way to introduce a playful element to your look is by adding colour through your choice of accessories – whether it’s a red lip or a bright handbag to make your outfit more interesting.

Wilkinson also loves to take a “more is more” approach on race day. Mixing patterns and embracing colour are sure ways to turn heads (in a good way) with your fashion choices. Look out for animal prints, which are expected to make a comeback at this year’s event. If loud colours aren’t your thing, “invest in colourful accessories and stay simple for your outfit,” she says.

If you’re re-wearing a garment, the introduction of accessories – like an oversized earring or a buckle belt – can make all the difference. This year, Wilkinson also reckons chunky accessories are making a comeback, in a nod to ’90s fashion. Look to brands like Chelsea de Lucca and Haven Mayhem for the perfect piece.

Make sure you still feel your best – and like yourself

So now, you’ve got a fun, loud, colourful outfit on, paired with maximalist ’90s accessories and even the hair and make-up to match. But there’s one important element to consider – how do you feel in all of it?

“[Comfort] is not only what you’re wearing, but how you feel in yourself,” says Wilkinson. Walking around all day in high heels may not be your friend, so pick something you can manage; she recommends wedges, kitten heels and a pointed flat as great options.

Wilkinson also suggests being mindful of your undergarments. “It really does determine how you feel,” she says. It may sound obvious, but dressing for the weather is of high importance, especially in Melbourne. Wilkinson encourages layering with a blazer or coat and wearing tights under a dress or skirt.

Most important of all, though, is still feeling like yourself underneath the outfit – by wearing something that exemplifies your individual style, rather than covering it up or dressing as someone else.

“If you’re owning who you are, that’s best-dressed every day of the week,” Wilkinson says.

*This article is produced by Broadsheet in partnership with Melbourne Racing Club. Tickets for the Caulfield Cup Carnival are available now.