To host a swap party, follow these simple guidelines:

Make it a true party. Send invitations, and serve food and drinks.

Hold your swap party at the start of a new season, when you switch your closets around.

Create a virtual-store atmosphere, with full-length mirrors and changing areas. When Heidi Hoelzer, 27, hosted a swap party for friends in New York City, she purchased a rolling rack from the Container Store to make it easy to browse clothes.

Place items in categories: shoes in one area, accessories in another.

Make sure attendees bring only items that they’re ready to part with. Nothing is worse than falling in love with another woman’s shirt, only to be told she’s having second thoughts about giving it up.

What to Do with Leftover Clothes

Donate: Nationwide, Goodwill, the Salvation Army, and Vietnam Veterans of America accept all kinds of clothing in good condition. Also check with churches, local hospitals, women's shelters, and agencies that work with the homeless to see if they have clothing-donation programs.

Sell: If you have like-new designer clothes, a wedding dress, or a great collection of Levi's you want to unload, it might pay to sell on consignment. Consignment shops tend to be selective but, as a result, sell a large percentage of the merchandise they accept and get good prices for it.

Tip: Wash or dry-clean all clothing.