HOUSTON – The holiday season is officially over, but what do you do with all of the gifts you don’t want or need?
Before you hit the return line at the store, you might want to consider holding on to that item for future use.
Yes, we’re talking about the controversial idea of “regifiting.”
To regift or not to regift
The verdict is in and most people would agree that regifting is socially acceptable, under the right circumstances.
Nora Kapche, the Coupon Contessa, recommends storing items you plan to regift for later and documenting them with a note that lists who gave the item and the occasion, so you don’t give the gift back to its original owner.
You can also tell the gift receiver that the gift was something you didn’t initially need or want.
If you choose to return a gift instead, be mindful that you might not get the same amount the gift giver spent on the item, if you return it without a receipt.
Most stores will offer you store credit for the merchandise even without a gift receipt, but the price of the item will most likely be the lowest sale price of the season.
What about gift cards you don’t want?
Kapche recommends trading gift cards online through community pages on Facebook.
This gives you a chance to get the full amount for the card, versus an online service that buys back gift cards.
They usually take a portion of the card value, so you’re not getting the full amount back!
If you do use one of the services, be sure to read reviews and use a credible site.
Easy ways to save in 2020
Earn cash back on everyday purchases with sites like Rakuten and Ibotta.
Kapche also recommends getting signing up for cash back or points from credit card use.
You can save at the grocery store by downloading digital coupons and store apps. Plus, shopping the weekly mailers!
Shop resale when looking for new furniture, vintage-inspired clothing and designer handbags.
Buy generic brands, especially for items like over-the-counter medication.
Create your own budget for the New Year, by using the cash envelope method and setting out specific amounts for eating out, gas, groceries, entertainment, etc.
For more money-saving tips from Kapche, click here.