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Posted on December 17, 2008

Money Management International, the nation's largest full-service non-profit credit and debt counseling firm, recognizes Thursday, December 18, as National Regifting Day.

This date is particularly appropriate since, according to an MMI study, the third Thursday of December it is the most common day for a holiday office party. The survey also found that 4 in 10 regifters (41%) target coworkers as the recipients of their regifts.

Budgets are stretched tighter than in years past and regifting has become a household term, but can consumers get past the stigma sometimes associated with regifting? For those worried about committing a regifting faux-pas, MMI offers these tips:
  • Encourage your office to bring regifting out of the supply closet by hosting a regifting party this year. According to a recent consumer poll, 59 percent of consumers said they will cut-back on their gift-giving and co-workers are on the "no gift" list. Host a regifting party to keep the holiday spirit alive at work this year!
  • Remove the pressure from your holiday party invite by hosting a "regifting" exchange. Families already overburdened by shopping demands will welcome the break.
  • Go green - Being environmentally conscious is very in-vogue this year, so embrace regifting as part of your movement to reduce consumerism and waste.
"At best a joke, and at worst, hurt feelings, regifting has been seen in years past as a practice for the lazy or careless," said Cate Williams, vice president of financial literacy for MMI. "However, regifting may be poised as the thoughtful gift of this season as consumers look for ways to be mindful of their personal economy, while still enjoying the spirit of the season."

If you are hesitant to break tradition, rest assured that the majority (60%) of people think that regifting is becoming more accepted; the top two reasons are to save some green. In fact, National Regifting Day received an official government stamp of approval by the state of Colorado for its environmental friendly intentions and its objective to help consumers reduce their financial burdens during the holidays. Visit www.Regiftable.com to see the actual proclamation.