smart spending

5 ways a sharing economy helps save money

Clothes swapping
Clothes swapping © Robert Kneschke/Shutterstock.com

Need some new threads? Then consider opening your clothes closet to others in the sharing economy.

Free clothing swap parties are springing up all over the country. The Boston-based group Swapaholics helps you organize clothing swaps and even lists a timeline for planning your own swap. The group also spreads the word about other nationwide swaps via social networks.

"You can be more stylish for less money," Gorenflo says. "And there are no fees."

There are also some free clothes swapping sites, too. At Swapstyle.com you can swap shoes and cosmetics, among other things.

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