John
12-26-2008, 11:02 AM
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I had a hunch that we might have got a lot better at buying presents this Christmas. With less money to splash - and less credit to squander - it seemed like a chance to cut back and give each other one thoughtful gift instead of half a dozen hurriedly bought horrors.
If somehow, despite the economic meltdown (or perhaps because of it) you have ended up with one or more dodgy items that you would prefer to see the back of, what are your options? Here are six ways to deal with the ghosts of Christmas just past...
1) Exchange it for something you actually like, want or need
Keep the tags on and make sure you return all the packaging. This is particularly crucial with electrical goods, as some retailers such as John Lewis will knock as much as 20% off the value of the item if it is not returned with boxes, instruction leaflet etc. It really does help to have a receipt or gift receipt as, apart from confirming that it was bought at a particular store, it also improves your chances of getting an exchange to the same value that was paid. If not, you may only get the value of that item in the January sale. Exchanges may be trickier with some retailers and certain items.
2) Get a refund
As before, hang onto the packaging and tags and be prompt in case there is any time restriction. Strictly speaking, shops are not obliged to offer a refund, or even a credit note, for unwanted presents unless they are damaged or faulty. However, most large retailers are a little more generous, particularly at this time of year. You won't get a cash refund without a receipt and ideally they will want to refund the money onto the card that the item was purchased with. Tricky if you did not buy it. If it is clear the item has come from that store then you will probably be offered a credit note. Unless you can get your mitts on the receipt without offending the person who gave you the item, then this will be your best option.
3) Recycle it
If you are too embarrassed to ask for a receipt and the item is just not your cup of tea, then consider how it could be recycled. One way to do this and save money at the same time is by 're-gifting' or simply giving your gift to someone you think might actually like it. Originally popular in the US, re-gifting has been growing in the UK and is set to be bigger than ever this year and next as smaller budgets prompt us to use up what we have before buying anything new.
Research by magazinesbymail.net reveals that as many as 15 million people may recycle old gifts from last year to give to friends and family. After all, it's the thought that counts. So with some fresh wrapping a new tag, you have a free, eco-friendly solution. The cardinal rule here is make 100% sure you don't re-gift it to the person who gave it to you in the first place.
If that all sounds like too much of an empty gesture, even in these skint times, then how about giving the thing away? The Freecycle network has been going since 2003 and is made up of around 5,000 groups across the globe. You log onto the site and find a group near you, then post details of the item you are giving away. Someone who lives near you and is keen to have it will then make arrangements to come and collect it from you. It spreads a little happiness and keeps viable items out of landfills.
Still sounds like too much effort? Just nip round to your local charity shop and get it off your conscience. Again, make sure you don't deposit in a shop near the person who gave it to you.
4) Flog it
Of course it's entirely possible that the gift you don't want has some value, in which case, you may want to sell it. An obvious choice for this is eBay. The auction site has even come up with a new term to make you feel better about your sale - 're-homing'. It's pretty straightforward to set up an account and getting set up with PayPal will allow you receive electronic payments instead of waiting for cheques. In fact, as cheque books become increasingly forgotten, many eBay buyers choose to only deal with PayPal-registered sellers.
Of course the period immediately after Christmas is notoriously busy on eBay as everyone has the same bright idea. If you're new to the site then look up the 'selling tips' to ensure you are describing and marketing your item effectively. Make sure you know what eBay's fees are too. These work on a sliding scale depending of the value of what you are selling. You also need to factor-in the time it takes to photograph your items and add the listings, plus wrapping and lugging the lot down to the Post Office. Always get proof of posting to cover yourself.
Remember that eBay is not the only online sales option. Amazon's marketplace is ideal for second-hand sales of books, DVDs, CDs and more. Just search for the item you're selling, find out how much others are offering it for and then undercut them if you can. Amazon sellers get a healthy, prescribed fee for post and packaging which should more than cover costs and is likely to bump up your profit margin. Listings site Gumtree is also popular for online sales.
There are also hundreds of car boot sales where you can flog your unwanted clutter. Check your local paper or look online for one that is convenient for you. Sites such as Car Boot Junction have helpful listings. You'll need to get up pretty early and make sure you wrap up warm.
5) Swap it
You don't need Noel Edmonds to help you swap these days. No cash changes hands and hopefully you can find someone who will trade that Val Doonican CD for one you really want. There are several websites to choose from. SwapXchange and Swapz are free national bulletin boards where you can list both the goods you are trying to offload and what you are hoping to find in return. Or you can simply list what you have to exchange and see what other people offer. For bookworms there is also readitswapit.co.uk, which allows readers to exchange second-hand books. Users pay postal charges but no other costs. Fashionistas can swap clothes and accessories at one of the many swap parties or events which are gaining popularity around the country (see Swishing). VisaSwap hosted a huge celebrity-packed event in June and the craze took hold. Alternatively, swap online with whatsmineisyours.
6) Pawn it
Pawnbroking is big business in the UK again. If you are seriously hard-up and have something which will secure you a short-term loan for an emergency then you can head to your nearest pawn shop or click onto Borro. Although clearly much cheaper than some forms of borrowing, it's important to bear in mind that pawning is still relatively expensive. If you have the chance to take a traditional loan or authorised overdraft then this will be a much cheaper option. Even most 'low credit' cards have lower APRs than the pawnbroker can offer. So don't assume you have no options - find out.
-Yahoo.
I had a hunch that we might have got a lot better at buying presents this Christmas. With less money to splash - and less credit to squander - it seemed like a chance to cut back and give each other one thoughtful gift instead of half a dozen hurriedly bought horrors.
If somehow, despite the economic meltdown (or perhaps because of it) you have ended up with one or more dodgy items that you would prefer to see the back of, what are your options? Here are six ways to deal with the ghosts of Christmas just past...
1) Exchange it for something you actually like, want or need
Keep the tags on and make sure you return all the packaging. This is particularly crucial with electrical goods, as some retailers such as John Lewis will knock as much as 20% off the value of the item if it is not returned with boxes, instruction leaflet etc. It really does help to have a receipt or gift receipt as, apart from confirming that it was bought at a particular store, it also improves your chances of getting an exchange to the same value that was paid. If not, you may only get the value of that item in the January sale. Exchanges may be trickier with some retailers and certain items.
2) Get a refund
As before, hang onto the packaging and tags and be prompt in case there is any time restriction. Strictly speaking, shops are not obliged to offer a refund, or even a credit note, for unwanted presents unless they are damaged or faulty. However, most large retailers are a little more generous, particularly at this time of year. You won't get a cash refund without a receipt and ideally they will want to refund the money onto the card that the item was purchased with. Tricky if you did not buy it. If it is clear the item has come from that store then you will probably be offered a credit note. Unless you can get your mitts on the receipt without offending the person who gave you the item, then this will be your best option.
3) Recycle it
If you are too embarrassed to ask for a receipt and the item is just not your cup of tea, then consider how it could be recycled. One way to do this and save money at the same time is by 're-gifting' or simply giving your gift to someone you think might actually like it. Originally popular in the US, re-gifting has been growing in the UK and is set to be bigger than ever this year and next as smaller budgets prompt us to use up what we have before buying anything new.
Research by magazinesbymail.net reveals that as many as 15 million people may recycle old gifts from last year to give to friends and family. After all, it's the thought that counts. So with some fresh wrapping a new tag, you have a free, eco-friendly solution. The cardinal rule here is make 100% sure you don't re-gift it to the person who gave it to you in the first place.
If that all sounds like too much of an empty gesture, even in these skint times, then how about giving the thing away? The Freecycle network has been going since 2003 and is made up of around 5,000 groups across the globe. You log onto the site and find a group near you, then post details of the item you are giving away. Someone who lives near you and is keen to have it will then make arrangements to come and collect it from you. It spreads a little happiness and keeps viable items out of landfills.
Still sounds like too much effort? Just nip round to your local charity shop and get it off your conscience. Again, make sure you don't deposit in a shop near the person who gave it to you.
4) Flog it
Of course it's entirely possible that the gift you don't want has some value, in which case, you may want to sell it. An obvious choice for this is eBay. The auction site has even come up with a new term to make you feel better about your sale - 're-homing'. It's pretty straightforward to set up an account and getting set up with PayPal will allow you receive electronic payments instead of waiting for cheques. In fact, as cheque books become increasingly forgotten, many eBay buyers choose to only deal with PayPal-registered sellers.
Of course the period immediately after Christmas is notoriously busy on eBay as everyone has the same bright idea. If you're new to the site then look up the 'selling tips' to ensure you are describing and marketing your item effectively. Make sure you know what eBay's fees are too. These work on a sliding scale depending of the value of what you are selling. You also need to factor-in the time it takes to photograph your items and add the listings, plus wrapping and lugging the lot down to the Post Office. Always get proof of posting to cover yourself.
Remember that eBay is not the only online sales option. Amazon's marketplace is ideal for second-hand sales of books, DVDs, CDs and more. Just search for the item you're selling, find out how much others are offering it for and then undercut them if you can. Amazon sellers get a healthy, prescribed fee for post and packaging which should more than cover costs and is likely to bump up your profit margin. Listings site Gumtree is also popular for online sales.
There are also hundreds of car boot sales where you can flog your unwanted clutter. Check your local paper or look online for one that is convenient for you. Sites such as Car Boot Junction have helpful listings. You'll need to get up pretty early and make sure you wrap up warm.
5) Swap it
You don't need Noel Edmonds to help you swap these days. No cash changes hands and hopefully you can find someone who will trade that Val Doonican CD for one you really want. There are several websites to choose from. SwapXchange and Swapz are free national bulletin boards where you can list both the goods you are trying to offload and what you are hoping to find in return. Or you can simply list what you have to exchange and see what other people offer. For bookworms there is also readitswapit.co.uk, which allows readers to exchange second-hand books. Users pay postal charges but no other costs. Fashionistas can swap clothes and accessories at one of the many swap parties or events which are gaining popularity around the country (see Swishing). VisaSwap hosted a huge celebrity-packed event in June and the craze took hold. Alternatively, swap online with whatsmineisyours.
6) Pawn it
Pawnbroking is big business in the UK again. If you are seriously hard-up and have something which will secure you a short-term loan for an emergency then you can head to your nearest pawn shop or click onto Borro. Although clearly much cheaper than some forms of borrowing, it's important to bear in mind that pawning is still relatively expensive. If you have the chance to take a traditional loan or authorised overdraft then this will be a much cheaper option. Even most 'low credit' cards have lower APRs than the pawnbroker can offer. So don't assume you have no options - find out.
-Yahoo.