Re-Gifting. Is it all that bad?

by 4 Nov 2023Money Management

Gifts you didn’t ask for.

Gifts you don’t need.

Gifts that make you wonder,

“What were they thinking?”

Let’s face it, holiday season gift-giving is a mixed bag. But what if there’s a way to turn unwanted gifts into a win-win?

Why Re-Gifting Gets a Bad Rap

Many people, like Steph Holdsworth from Allerchic, initially thought re-gifting was a no-go. “I always thought the idea of regifting was awful. The gifter put time, energy, and love into buying you that gift,” she says.
But life circumstances can change our view. For Steph, having a child with severe allergies and eczema made her reconsider. “If I’ve asked and these things have still been gifted, I pass them on to our local women’s shelter or the Kmart wishing tree. I do let the gifter know this is happening and I replace the gift for my child. But this feels like a win for everyone.”

Benefits of Re-Gifting

  1. Budget-Friendly: Save money by giving gifts you’ve already received.
  2. Reduce Waste: Less stuff in the landfill.
  3. Make Someone’s Day: The wrong gift for you might be perfect for someone else.

Re-Gifting Etiquette 101

  1. Label Your Gifts: Mel Jay from Simply Mel gives a practical tip: “Be organised and label gifts with who you received it from if you intend to regift later!”
  2. Quality Matters: Hannah Wood reminds us, “I only regift items that I think are good and that I’d buy (not junky).”
  3. Avoid the Boomerang: Anuradha Sawhney, founder of Bidiliia says it best, “Don’t regift in the same circle of humans.”
“Be organised and label gifts with who you received it from if you intend to regift later!”

Second-Hand Gifting: A Sibling to Re-Gifting

Hannah Wood from THINKercise also wants to normalise second-hand gifts. “I’m an avid op shopper and often find great second-hand items that would make thoughtful gifts.”

Why Second-Hand Gifting?

  1. Uniqueness: These gifts are often one-of-a-kind items you can’t find in stores.
  2. Eco-Friendly: You’re giving items a second life, reducing waste.
  3. Cost-Effective: High-quality items at a fraction of the retail price.

The Dos and Don’ts of Second-Hand Gifting

  1. Curate Carefully: Whether you’re browsing op shops or online marketplaces, look for items that suit the recipient’s taste. Aim for quality and uniqueness.
  2. Inspect and Clean: Always check for any wear and tear. A quick clean-up can make your gift look like new.
  3. Personalise: Add a personal touch with a nice ribbon, a handwritten note, or even a small additional item that complements the main gift.
  4. Be Transparent: It’s perfectly fine to tell the recipient that the gift is second-hand, especially if they appreciate sustainability.
  1. Gift Damaged Items: Even if it’s a rare find, skip it if it’s damaged or overly worn.
  2. Ignore Recipient Preferences: Second-hand or not, the gift should still cater to the recipient’s tastes and needs.
  3. Forget the Presentation: Wrapping counts! Presentation can turn a simple gift into something special.

Final Thoughts

As the holiday season approaches, remember that re-gifting can be a viable part of your financial planning. Done well, it saves you money without sacrificing generosity. Re-gift like a pro and enjoy a wallet-friendly holiday season!
Creo Wealth is here to help you navigate the holiday season without breaking the bank. Reach out to explore budgeting and financial planning tailored to you.

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