A Good Fit For Saving Money

Cheryl Harrison's been dieting for months and has lost a lot of weight, reports The Early Show correspondent Melinda Murphy.

As she's shrunk, her closet has expanded.

So she's taking all her loose clothes to a clothes swapping party.

This in only the second party she is attending, but her friends in St. Petersburg, Fla., have been holding them for a lot longer.

Here's how it works: women arrive with unwanted wardrobes in tow.

And then just like in a store, clothes are put on display and the women sort through. First come, first served - and there's no limit on how much you can take home.

It's like shopping with a bunch of your closest friends. And the best part? It's all free.

Of course with clothes, one size doesn't fit all, and that's exactly the point. With swaps like these, you don't have to empty your wallet every time you need to resize your wardrobe.

Before it's all over, virtually everybody has a new outfit.

The women go home happy customers. No receipts, but if they need to exchange, there's always the next swap party.