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Regifting: It’s Time to Ask, Why Not?
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For more information contact:
Tanisha Warner (713) 394-3202 |
Release Date: December 7, 2007 |
Regifting has arrived. According to a recent survey by Money Management International (MMI) if you haven’t regifted, you are in the minority.
What was once a shameful secret is now a mainstream practice that receives increased attention during the holidays, when consumers are inspired or guilted into buying for everyone from family members to the dog walker. MMI’s holiday site, www.regiftable.com, is a forum for all things regifting, including more than 700 consumer stories running the gamut from the heartwarming to the horrifying.
This year, there are more reasons than ever to regift:
Everyone is doing it. Well, nearly. 58 percent of respondents in MMI’s 2007 holiday survey say they regift, or are considering doing so.
Times are tough. Rising gas and energy prices, home foreclosure rates, rising credit card minimum payments, the list goes on. 42 percent of MMI’s survey respondents regift to save money. With consumers expected to spend an average of $900 this holiday season (according to the National Retail Federation), many will accrue credit card debt that lingers well into the New Year.
Go Green. For the first time in history, consumers are considering the impact of the holidays not only on their pocketbook, but on the environment. The good news is that “going green” doesn’t mean forgoing all gift-giving and decorating. Regifting is a small step towards reducing this holiday’s environmental impact.
It’s the thought that counts. MMI’s survey found that regifters have good intentions. 62 percent regift because they think it is something the recipient would really like.
“Whatever reason you choose, being a savvy regifter is key. When people say, “really, you shouldn’t have,” you don’t want them to mean it,” said Cate Williams, vice president of financial literacy for Money Management International. “With a little care and common sense, you can help keep your holiday spending under control, and participate in the holiday tradition of gift-giving.”
For regifting dos and don’ts, interesting facts and figures, games, and more, visit Regiftable.com. You can also share your regifting stories for a chance to win a prize!
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Money Management International, is a non-profit community service organization that provides confidential financial guidance, counseling and debt management assistance to consumers. MMI helps consumers trim their expenses, develop a workable budget, lower their debt payments and repay debts. Services are available by phone. To visit with an MMI counselor, call toll-free 1-800-762-2271- 24 hours a day, 7 days a week. Spanish speaking counselors are available. Consumers can also learn more by visiting the MMI home page at www.moneymanagement.org.
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