While there may be signs we’re not hurtling toward a depression, job loss continues at a disturbing pace and the economy remains a mess. But lean times offer interesting opportunities, as we all get a bit more creative in finding ways to do things we like and get things we need with less…. including finding the perfect prom dress.

No, I’m not kidding. Prom is serious business, and yes, the dress has got to be fabulous. But these days of mass layoffs and company-wide pay freezes, the price for a party dress can be more than a family can afford.  So does it have to be new? Or might “pre-owned” (like a car) and probably worn only once or twice as so many fancy party dresses are, be just as good or better, particularly if it’s free or very affordable? Vintage clothing stores are great sources for beautiful pre-owned but barely worn party dresses. But the latest craze is repurposing through clothing swaps. A friend I know in Washington gets together every few months, seasonally I suppose, with friends for a clothes swap. She says it has really cut down how much she spends on clothes over the course of the year. As these swaps are with friends whose taste she shares, then she says she almost always goes home with at least one thing she really loves for virtually nothing.

Swapping, repurposing, giving clothes a second life, whatever you want to call it, is not just cool, it’s eco-cool. To show that even for prom, the eco-smart choices can be both chic and cheap, a teen group in Brooklyn, New York, called Teens Turning Green, teamed up with the local Whole Foods to launch Project Green Prom. New York area high school juniors and seniors were invited to participate in a Dress Swap program where they donate their previously worn and loved gowns in exchange for another dress as a way to promote repurposing items to preserve the environment. A green stylist was on hand to demonstrate cost-effective ways for making something old new again.  In addition, attendees enjoyed eco-beauty makeovers and green spa treatments by local salon owners, John Masters, Mineral Fusion and PRITI Spa, and received flower and décor preparation advice and healthy eating tips and menu ideas for the big day.

While community-supported swaps are the rage in cities and towns around the country this year, my hope is they stick around. They say something good about our evolving views on consumerism: That good-times or bad, owning can be nice but sharing can be better. Find out about clothes swaps going on near you.