If you need an updated look but can't afford a new lamp, just recover a lampshade. This project requires no sewing skills and provided the base is still in good shape, you can turn that worn out lamp into a designer masterpiece in an afternoon. Use the following steps and a little fabric, trim and glue.
Make the pattern to recover your shade by laying brown paper on a flat surface. Place the lampshade on the paper, seam side down. Carefully roll it across the paper, holding a marker at the top edge. Keep the point of the marker on the paper as you roll making a continuous line. The shade will naturally curve as it rolls.
Place the lampshade at the starting position, again with the seam down. Roll again, this time holding the marker at the bottom of the shade and making a continuous line. Use a ruler and connect the ending points with a straight line from top to bottom.
Trim the pattern and spray with quick release adhesive. Place on the wrong side of the fabric and and cut out adding 1/4 inch seam allowance. Remove the pattern from the fabric. Allow adhesive to dry on fabric, then turn over seam allowance on one side only and iron. The raw edges of the top and bottom will be covered with trim.
Spray the wrong side of the fabric with regular spray adhesive and attach to the old lampshade. Carefully line up the raw edge of the fabric with the seam on the shade and attach. Work all the way around, smoothing out wrinkles as you go. The adhesive will be tacky for a few minutes, giving you time to readjust. Finish by overlapping the raw edge with the ironed edge.
Measure top and bottom edges of the shade and add 1/2 inch. Cut out trim and attach with a glue gun. Turn under the ends for a finished look and to avoid fraying. Beaded ribbon can be added to the bottom at this point, if desired.
For good clean edges, use sharp scissors for trimming when you recover the lampshade.