Save Money By Mastering the Art of Re-Gifting

0
29

Thinking about re-gifting? Go ahead – but make sure you do it right.

Re-gifting or the act of passing off an item somebody received to someone else as a present to save time, money and effort is now considered an acceptable practice by 83% of Americans, according to the results of a survey conducted by CreditDonkey.com. However, while almost 50% of the respondents in the survey believe that they received a re-gifted item in the past, only 34.3% admitted that they re-gifted a gift.

With this recent development, you can finally put all the presents you have accumulated through the years to good use. According to a survey conducted by Bookoo.com, an online community specializing in yard sales, home d?cor (63%), antiques (63%) and books (59%) are among the most popular re-gifted items in the US. Other sources include candles, clothing, soap, movies, picture frames, jewelry, perfume and cologne, and gift baskets to the list. A survey conducted by American Express further revealed that most people re-give to friends (41%), co-workers (32%) and siblings (29%)

However, before you start giving away all the holiday presents that you don’t have a need for or don’t fit your lifestyle, learn about the proper etiquette of re-gifting. Here are some tips to consider.

Give with good intention. Make sure the person receiving the gift would appreciate the item. Otherwise, it would just be another unwanted gift and a likely candidate for re-gifting.

Do not re-gift used items. As a general rule, you should never give hand-me-downs and used items as gifts to someone else, especially if they are plain old and ugly. Slightly used items may be given on non-special days but for re-gifting purposes, only items in pristine condition should be considered.

Keep track. Do not re-gift items from the same social circle since there is a great chance that the original giver will find out what you did. It is highly recommended that the person who gave you the original gift and the person whom you are giving it to do not know or interact with each other. Always keep track of who gives which items, and make sure you don’t get caught if you decide to include it in your re-gift stack.

Repackage the gift. While it is always a good idea to keep the item in the original box, you should at least invest some time and money in repackaging the gift. Toss away the original wrapping, card and gift tag to make sure you leave no telltale signs.