It's not always worth the time it takes to alter clothing, but when something is given to you for free, and it's a great item, I consider that worth altering.
I got this Express bandage skirt as a hand-me-down from a friend. It was a few sizes too large, but I loved the cut and color and it was in mint condition.
I seam ripped out the side seams.
Then seam ripped out the waist and hem seam that overlapped the side seams.
I used a bar of soap to draw a line where the seam needed to be taken in about one inch from the original seam.
Before cutting off the excess fabric, I double stitched the new seam down, following the soap line,
like so.
Then I cut off the excess fabric,
only leaving the waist and hem seam that overlapped the side seam to fix.
Next I folded back over the hem and waist seam over the side seam and double stitched that down, following the original stitch from the rest of the hem/waist seam.
Now the skirt fits perfect.