C'mon, don't be such a goody two shoes. Everybody's doing it.
Well, maybe not everyone, but a survey last year revealed that nearly one in four of us upstanding, big-hearted Americans resorts to regifting. And, get this: The practice is most prevalent (36%) among households with annual incomes of $100,000 to $150,000, says Money Management International.
If you're unfamiliar with the practice (go ahead and feign ignorance), regifting is when you pass along unwanted presents under the guise of having searched long and hard to find just the right gift. Chia pets, Ronco Rotatoes, and the ubiquitous Christmas fruitcake are among the items that find second (and third and fourth) lives under the tree.
Some call it cheap. We call it Foolish. Given that the holidays are a budget-buster for so many (the average gift budget this year is nearly $1,000), we don't have a problem with regifting. Just make sure it's done tastefully, and that you give us something that we really, really like. The alternative -- credit card debt and shopper's remorse -- is hardly in the holiday spirit.
So, go ahead and regift. Shave a few bucks off the budget and find a good home for those 13 soaps on a rope you've accumulated since college.