Free pony tail holders

Save narrow elastic from worn out underwear and other clothing, the cut it to lengths and sew or tie the ends to hold hair in a pony tail. It won't trap and pull hair.

Trash bag anchor

Save the wide elastic from old underwear. It's great for anchoring the tops of trash bags over a large kitchen garbage can.

Make your own bowl covers

Make your own bowl covers from old vinyl table cloths or shower curtains. To be extremely frugal, use elastic cut from old clothes. Cut a circle, using a dinner plate for a pattern, and cut a piece of elastic an inch or two shorter than the circumference of the bowls you'll be using (a little more or less won't matter much). Sew the elastic around the edge of the plastic circle, gathering as you go. Make larger and smaller covers while you're at it.