Regifting is a great way to save money and declutter your own living space. It’s also budget-friendly and a sustainable way to celebrate the holiday season. Regifting is also helpful if you’re paying off debt and can’t spend money on new gifts. If you are not going to use an item, why not gift it to someone who will? In celebration of National Regifting Day (12/19/2014), let’s explore some of the best regifting tactics and how to avoid a Seinfeld regifting disaster.
Seinfeld Regifting Debacle
In this classic Seinfeld episode, regifting goes horribly wrong. This is what happens when you don’t follow the rules.
In the past, regifting was seen as tacky, careless and shameful. However, a national survey conducted by Bookoo.com found that today, 92 percent of people find regifting completely acceptable. Not having to buy a new gift also helps you stick to your holiday budget. The 2012 Holiday Regifting Survey also found that 87 percent believe that they have received a regifted item and that 62 percent plan to regift an item this holiday season. Let’s take a look at how you can successfully regift an item.
Rules of Regifting
- Think it Through. Only regift an item if you feel that the person you are giving it to will truly enjoy and use it. Do not simply regift because you have the item laying around. Remember, it’s the thought that counts.
- Keep Track of Origin and Destination. Do not regift within the same social circles. For example, if your grandmother gave you a scarf you do not need, do not give it your cousin at a family gathering your grandmother will be attending.
- Rewrap the Gift. When you rewrap a gift, you can eliminate any chance of a personalized card or tag attached to the gift.
- Check the Condition. Only regift an item if it is brand new and in excellent condition. Chips, stains, missing pieces are definite no-no’s.
- No Personalized Gifts. If it has your name, initials or maybe even your likeness, it’s yours forever!
- Bottles of Wine
- Gift Cards
- Home Decor
- Small Appliances or Gadgets
Regifting should be as thoughtful as regular gifting and help you stay on budget. Before regifting this holiday season, consider the recipient and what you are giving. If you can’t find a good match for your unwanted item, consider donating it to charity. Save money, time and resources by thoughtfully regifting this holiday season.
If you’re struggling to pay off debt, ACCC can help. Schedule a free credit counseling session with us today.