Dear Budget Fashionista:
I received a cardigan cashmere sweater in size large and I wear a small. Is there a way to permanently shrink it?
Answer: You can shrink a cashmere sweater by handwashing it in very warm water and then sticking it in the dryer with the setting on high. HOWEVER, this will damage the integrity of the sweater (i.e. make it look like crap). The sweater will be very thick, pilly, and the shape will be quite distorted. My advice? Either sell the sweater on eBay or regift the sweater to someone else.
pictured: Isaac Mizrahi for Target Cashmere V-Neck Sweater, $49.99, Target

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