File sharing between VMware and host

I hope this is the best place to ask this question.

Few days back I installed VMWare workstation 5 on Vista Home Basic as host. I have installed Windows XP as guest OS in the VMWare. While installing I had set the network connection as “NAT : Share host’s IP Address”. I guess it is because of this I am able to access Internet from the guest OS.
I want to share files between the host and the guest OS. Can someone help with this? Here are some info in case it is required.

Virtual network settings summary

VMnet0 (bridged) :- Bridged to automatically chosen adapter.
Subnet : 255.255.255.2

VMnet1 (Host-only) :- A private network shared with host.
Subnet : 192.168.175.0
DHCP : Enabled

VMnet8 (NAT) :- Used to share host’s IP address.
Subnet : 192.168.240.0
DHCP : Enabled