Even if the person who gives you a gift has the best intentions, some gifts just simply aren’t what you want or they’re something that you already have and don’t need a duplicate of. You don’t have to let the gift take up space in your closet or have to throw it out. Instead, consider these clever ways to make a bit of cash from the holiday gifts you don’t plan on keeping.
Make a Donation
If you have a gift you don’t want, you can give it to someone in need. Donate your item to a clothing drive or a secondhand store, or to a charitable organization. You can donate everything from books and clothing to furniture and even gift cards – every little bit helps. Ask for a receipt, because you’ll be able to write-off your donation on your taxes. To make this incredibly easy on yourself, sell to consignment shops online. You simply send the items to the shop and then you get paid in return, once the items are received or when the shop sells them. The best part is that you don’t have to photograph or list the items yourself.
Re-Gift the Gift
If you have a big family or a lot of close friends, you probably have a ton of shopping to do every year. Between birthday parties and anniversaries, it can seem like there isn’t a month that goes by that you don’t have to buy a present for someone. This is a great opportunity to re-gift an item you don’t particularly like. While you won’t make any money on the item, you won’t spend your own money either. Create a system to remember who gave you what so that you don’t re-gift the item to the person who gave it to you in the first place.
Sell Gift Cards
If you received gift cards to stores that aren’t located near you or that you never shop at, you don’t have to let them crowd your wallet and go unused forever, instead, sell them. The amount of money you’ll get in exchange for the gift card varies based on the store, but you may be able to get as much as 90% of the credit in cash. Not only can you resell your gift cards, but you may even be able to get money for your store credit, as long as the credit is on a gift card and doesn’t have an expiration date.
Sell Your Electronics
There are a lot of places out there that buy new or lightly used electronics, as long as they’re in good working condition. If you received a gadget that you don’t want or if you want to get rid of your old gadget that you’ve replaced, try to sell it. Keep in mind some places will give you cash while others will give you store credit.
Take it Back
If you think you can get full value or most of the value from a gift you don’t want, consider returning it to the store it came from. You’ll get the most money back if you have a gift receipt, but even if you don’t, you’ll still get some cash back in return. Many stores take back items even if you don’t have a receipt for it, especially if the item hasn’t been opened or used. It’s possible that you’ll have to accept store credit instead of cash if you don’t have the receipt. You could also consider selling the gift card for cash if you don’t think you’ll be shopping there.
Trade the Item
If you have an item that’s somewhat close to what you want – like a video game, but not the right video game, consider trading it to get what you actually want. This is also a great option if you’re skilled at bargaining. There are several game trading websites where you can swap video games, toys, accessories and clothing.
Use the Amazon Trade-In Program
If you received a gift that you’ve already used but don’t want, consider using a trade-in program. Categories in this program usually include books, tablets, phones, and video games. In return you will receive a gift card for your trade-in.
Even though you may feel bad getting rid of unwanted gifts, you’re not doing anyone any good by holding on to an item you won’t use or don’t like. There’s no need to be disappointed with a gift, especially with so many money-savvy options for getting rid of it.
