this is a great idea. As I was losing, I altered (ie took in) many of my clothes, to tide me over until it was worth making a major clothes investment.
I had worn several wrap around skirts, and they had grown with me in size, by moving the button a bit further out every now and then, almost to the point there was little overlap left. When I started to lose, I moved the button tighter and tighter. Then I took in large seams on the sides, then I added darts. The product did not look as nice as a tailored professional job, but I was just doing it to extend the life of the clothing. And an inexpensive blouse left loose over top hid the results. Needless to say, when I did buy new clothes, these heavily altered items were not prizes to give to charity - many ended up as rags, but they had served their purpose well.