Step aside, Fashionistas. There's a new style savvy girl-about-town: the budget-conscious, financial-friendly Recessionista. This new buzz-word – spawned by the fashion industry's take on our dire economic climate – describes any woman who is able to maintain her love of all-things fashion without breaking the bank. Forget vintage, second-hand or the industrious trip to the Salvation Army. These days, women are booking their Saturdays with clothing swaps. Want to know how it's done? Read on…

Plan a party
Sure, you're going the cheap and cheerful route here, but that doesn't mean you can't make it feel like a lavish affair. Send out girly invites to six to eight of your closest friends (who are all relatively in the same size category) for a Saturday afternoon clothing swap with nibbles, drinks and good times. Ask them to bring six items to swap, and in return they can choose six items brought by others.

Create a theme
If your friends are as varied as your wardrobe, plan more than one clothing swap which can cater to your friends' different lifestyles: Have a children's clothing swap, a mom-for-mom swap, an all-accessories swap, and so on.

Clothing conditions
The rule of thumb is this: Do not bring articles of clothing if they badly worn, torn or stained. Remember, if you're looking to score some fab finds from your friends, make sure you are returning the favour.

Rules of arrangement
Organize all items by category: Sweaters in one pile, skirts in the next; and also sort them by size. For accessories, lay them out on your dining room or kitchen table so people can have a better view of what's being offered.

All for one, one for all
To ensure calm amongst the shopping storm, pick names out of a hat so, one-by-one, each person has their own time to shop. Also, limit the number of items so each participant is only allowed to grab two things on their first round.

Dressing room etiquette
Naturally people are going to want to try on the clothes for fit, so make sure you give them the space. Offer up your bathroom, or, better yet, your master bedroom. If you have a full-length mirror, make sure it's available to your guests. Keep it light: Play some music and encourage your friends to star in their own fashion show. This is supposed to be fun!

Charitable cause
For all items that are left over, pack neatly in boxes and send to a local women's shelter. In these challenging economic times every bit helps.

Want more fashion advice? Here are great tips for looking super stylish.

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