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Although it can be frowned upon in some circles, regifting is a perfect way to save money as you work to pay down debt. Keep these regifting etiquette guidelines in mind:

Amazing Regifting Ideas:
  • Unopened wine, champagne, and other liquors
  • Unopened fragrances and perfume
  • Unused candles
  • Unopened gift basket
  • Gently-used puzzles and board games
  • Gently-used paperback or hardcover books 

Never regift gifts from family and meaningful people.
Sure, your kids may never wear those hats your Uncle Carl sent, but you know he’ll expect to see them sporting the ball caps the next time he visits. It’s always best to keep gifts from family and close friends. Remember that it’s better to keep the peace, and sometimes that means keeping the gift.

Never regift amongst the same friends.
Chances are pretty great that one of your friends spent a lot of time and thought into the gift they have given you. Giving that gift to someone within the same circle is just asking for a future moment of humiliation for everyone involved – with lots of explaining to do.

Never use the same wrapping or gift presentation.
You’re already saving money by redistributing a gift you will not use to someone you feel would enjoy it more. The least you can do is rewrap the gift, or buy a new gift bag before handing it to someone else. Also, be sure that you have removed all gift tags and price stickers.