The presents are opened, the wrapping paper recycled and you might be wondering what to do with those gifts that aren’t quite something you want or need. According to a survey by Creditdonkey.com 83 percent of respondents are okay with receiving a regifted gift. This surprised me. I personally am not a big fan of regifting because it feels dishonest and disingenuous to me, but I know the practice has gotten more acceptable. If you plan to regift there are several things to be mindful of before doing so.
When you regift a present avoid giving it to someone who is in the same circle. You don’t want the person who gave you the gift to hear from someone else that they received their gift. Watch this episode on Seinfeld as Elaine discovers her gift was regifted.
Never regift something that you’ve used. It must be new and in the original packaging.
Be sure to remove any cards or notes that came from the original giver.
Only regift an item if it’s something you are sure the other person would enjoy. Don’t give a gift to someone just to get rid of it. For instance, if you received a nice sweater from your Aunt that is a color you aren’t fond of, but you know your friend really likes this color and would enjoy the sweater, it would be appropriate to regift it to your friend. But don’t give your coworker, who is allergic to scents, the cologne you received from Aunt Jane.
Related: Well-Meaning Advice Is Often Neither
An alternative to wrapping a gift and presenting it as something you picked out for the person is to offer the item unwrapped if you think he or she would enjoy it. Say something like “I received this book and I’ve already got a copy of it, which I’m enjoying reading. I thought you might like it.”
Never regift something that is handmade, very personal or very meaningful. Yes, when it comes from your mom or best friend who spent hours knitting that scarf for you, you need to hold on to it and wear it or display it at least once so she can see it.
When in doubt about regifting something don’t do it. Give it to a charity – a win, win for everyone. Or, do as my book group does – have a white elephant gift exchange where everyone knows you’re gifting something you don’t want. As they say one man’s trash is another man’s treasure.
How do you feel about regifting? Do you do it? Are you okay with receiving regifted items? If you don’t like it why don’t you?
A Review of the CFP Board’s New Fiduciary Guide
Advisors: The Power of Technology Only Works Through Teamwork
Munis Keep Rolling Along
The Periodic Table of Investment Returns Can Cure Investment FOMO
Sales is All About Psychology
The Truth: Introverts and Extraverts Are Wired Differently
Everything You Need to Know About Solar Panels
6 Tips to Better Work With Your IT Department
Just Another Manic Monday
The Four-Year College Degree on a Budget
Equities12 hours ago
Development12 hours ago
How to Get Your Network Working For You
Development12 hours ago
7 Things Advisors Need to Know About Succession Planning
Let's Solve It1 day ago
Do the Recent Trade Tensions Matter for the U.S. Economy?
Research1 day ago
What Every Investor Can Learn From Buffett’s $4.3 Billion Mistake
Insights1 day ago
China’s Looming Current Account Deficit Will Have Consequences for Us All
Research2 days ago
Trump’s Trade War Is Good for These 3 Dividend Stocks
Development2 days ago
The Truth About Getting to the Next Level as an Advisor