Just because your skirt is in tatters doesn't mean you look like a homeless hobo. In fact, when the tatters that comprise your skirt come from old but beautiful fabrics (instead of, well, just old and overused fabrics), you'll look both chic and money smart.
Dig through your closet for a few clothing pieces you love but know you won't wear again. Anything with a great pattern will work. Then watch this video to learn how you can cut and sew these pieces together to make a pretty tatter skirt.