First, if you are comfortable asking the giver where the item came from so you can get another color or size, then do so. If not, you have some homework to do. I suggest starting with an internet search by scanning the barcode with a smartphone app or type in the code of the item to find out where it is sold. That will give you prices and some stores to go to. If the store won’t return it for some reason or it was purchased online, then post it for sale online! You already know what to price the item at, so go on eBay and post it for sale.

If you receive a gift receipt with your gift be thankful because this is the best of all possibilities! You know where the gift came from and best of all you can prove it with the gift receipt to the store. If you were expecting to get cash back though, you may be disappointed to find they only offer store credit. If you didn’t need or want the item, consider saving the credit for something you would’ve bought from your spending plan so you can allocate that money elsewhere (hopefully to pay down debt or save).

Do you have a pile of unwanted Christmas gifts that resembles the Island of Misfit Toys? Get organized and get some value out them! We have compiled some tips to help you get something in return for those gifts that just aren’t the right for you. These suggestions can help turn your unwanted gifts into the treasures that the giver had intended them to be! Stay tuned for all 6 tips!

You saw some new, hot Christmas decorations in the store and you just have to have them to complete your holiday décor. So you look at the price…oh my…well I really, really want it…the price is a little high but Aunt Norma is coming and I think she will really love it. Who knows how many more Christmases we will have together so I better get them now…It really isn’t THAT bad so…you buy it. Does this sound familiar?

BAM! You lay down the full price of $300, run home, and put up those decorations. A week later on Christmas day, all your guests, especially Aunt Norma swoon over your new decorations. You feel a sense of pride and happiness that you made everyone’s Christmas better by buying those decorations.

A week later while you are returning that ugly sweater that Aunt Norma gave you, you see all the Christmas decorations are 90% off! Wow, that is a great deal! It couldn’t possibly include the decorations I bought a few days ago for $300…could it? Your stomach gets tight and your head is down with your eyes peeking tentatively around the corner to the display and sure enough that 90% off sign is prominently displayed on the decorations you just bought. UGH! Really?

Here is a tip, these discounts happen every year. Just after Christmas prices get slashed and you can buy wrapping paper, bows, gift tags, and of course decorations at a fraction what it cost just days earlier. So in your spending plan set aside a fund to make these purchases just after Christmas so you can be ready for next Christmas and keep a lot more money for your gifts!

When you are standing in the store with a full shopping cart, a maxed credit card, and no cash just days before Christmas what are you going to do? The stores make it so easy to “Buy Now, Pay Later”. These deferred payments are like lay away but in reverse. The store offers you credit so you can take all your gifts home now and make small monthly payments throughout the year. No matter how your wrap up paying for something later it still creates debt. The stores will do whatever they can do to get you to buy, buy, buy!

Many stores make it so easy by offering to charge your credit card for a fraction of what you owe for your purchases every month without interest charged by the store (but remember if you don’t pay off that credit card in FULL every month you WILL PAY interest and/or penalties). That way the store gets their money and your credit card company can chase you for the payment if you don’t pay.

Let’s put some numbers to it to see what a deferred payment plan might look like. If you spent $300 on gifts, you might agree to pay $30 for the next ten months to pay that off. That sounds reasonable and doable, but when you consider that you will make your final payment sometime in October and need to start Christmas shopping again soon. If you didn’t start saving money for your Christmas spending in January because you needed to make your $30 monthly payments on presents from last year, you are right back where you started. Standing in the store days before Christmas looking for a way to buy your gifts. It can become a vicious cycle.

Break out of the cycle by creating and following a spending plan so you make unemotional decisions during your holiday shopping. Click here to get some resources to start your spending plan today!

Time is more valuable than money. Everyone’s time is limited. We all know eventually our time will run out. Instead of buying gifts, consider planning a fun activity like making precious homemade gifts or meet someone important to you to talk with or volunteer for a cause you feel passionate about. How do you feel when you spend time having fun with someone you care about? You receive a gift of joy as well right? Tis the season!

Take time this holiday season a walk in the park or a trail. Have a heart to heart talk and listen intently. During your time together block out any and all other distractions. No phone or watch notifications. Focus only on that one person for that time and I am sure they will remember and cherish that memory for a long time to come.

Invite a special someone over to your kitchen to show them how to make a treasured favorite, family recipe. When you are done give them a handwritten recipe of that dish and maybe a new pan for them to take home to cook it in. I bet they will think of you every time they make or eat that dish!

For people who aren’t mobile or able to travel, ask what they’re favorite game or book is. Then bring that book or game when you visit and spend time playing or reading together. You could learn why that is their favorite and it could become yours!

Experiences that make happy memories are the most cherished gifts!

Do you have a jar that you throw coins in at home? Or do you have gift cards that people gave you last year that you wondered what you are going to do with? What about the credit card rewards that you have been racking up? There are many places that money can be hiding. Maybe some of these ideas will keep you in the green!

Roll up those coins and see how much you got. While cleaning your house and car keep an eye out for coins to add to the jar. You may be surprised how quickly it adds up! Then you can use it this year or start your gift fund early for next year!

If you’re not careful or use them right away, gift cards can sit left unused. They get kicked under beds or tucked in wallets and somehow disappear. Think of it as a treasure hunt and start digging! It can be very helpful to buy gifts with those long-lost gift cards and give your gift savings a break.

Credit card rewards are very exciting when you haven’t been paying attention to them for months, then suddenly you check the reward balance and it can be hundreds! In many cases, the credit cards are paying more in rewards on what you spend than the bank will give you in interest! Also, many of these cards have discounted products you can purchase to make the money you get from rewards go even farther. Take advantage of it! (Always, always, always pay your monthly credit card balances in full! Never carry a balance over so you have to pay interest or fees. It is counterproductive!)

Always keep your eyes and mind open, you would be surprised how much money you can find!