Did you open any gifts this holiday season that just don’t strike your fancy? And then did you pretend to like the items, even though you were wondering in your mind how you’d actually benefit from them?
We’ve all received gifts with which we weren’t particularly thrilled. But if you get a little creative, you can find ways to get the gift out of your hair and put it to good use. Consider the following savvy strategies.
1. Return them to their original sellers.
If you know where the gift came from originally, you may want to simply return it to the store or company from where it came. If you have the receipt for it, this should be a simple process of either getting a refund payment for the item or exchanging it for something of equal value. Without a receipt, it may be difficult to obtain a refund, but it is certainly worth giving it a try.
2. Resell them online.
Are you looking to make some extra money or simply get all or part of the cash value of an item? The Internet is a fantastic platform to turn to in this case. Use sites like Craigslist, eBay, or Amazon to put the item up for bids or for sale. If it’s a rare or hard-to-find item, there’s a good chance you could recoup some of its value – or even turn a profit on it. Either way, you can get money for the item to spend on something more meaningful to you.
3. Donate and deduct them.
Donating useful items to a charitable organization comes with some nice perks. Not only can it make you feel good about putting your unwanted gift into the hands of someone in need who can benefit from it, but also it can serve as a tax deduction on your IRS income tax return.
Clothing, household goods, toys, appliances, electronics, and even vehicles are deductible items you can donate to a qualified charity. Be sure to obtain a receipt or handwritten acknowledgement for your contribution that lists the fair market value of each item you donate.
4. Hold a garage sale.
If you have several unwanted gifts that have piled up in the corner, or your one undesired present has motivated you to look for more unused items around the house, it may be time for a garage sale. Many neighborhoods have specific days for garage sales on Fridays and Saturdays, while others allow residents to set up shop in front of their homes any day of the week. You might be surprised about how many things you can get rid of – and the nice sum of money you can bring in from such a sale.
5. Consider re-gifting – with caution.
This may not be the most ideal option, but you can always re-gift a present you simply don’t want by giving it to someone who can use it. Of course, if you re-gift the item, and the original giver finds out, this individual may not be thrilled with your decision.
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