Regiftable.com: Creating new holiday traditions

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The creators of announced today its third annual regifting story contest. Regifters from around the nation are invited to share their regifting stories and videos for a chance to win prizes valued up to $500.

Regifable.com is a forum for all things regifting, including an archive of nearly 900 consumer stories running the gamut from the to the . In addition to this year's regifting story contest, the site also offers fun games, facts, personalized gift certificates, regifting party rules, and much more.

Regiftable.com was created by the nonprofit Money Management International (MMI) to give people a fun way to learn more about regifting, and to start the conversation on a topic many people are reluctant to discuss -- holiday spending and financial worries.

Holiday gifting this year may be particularly difficult as economic stressors continue to stretch family budgets.

Consumers may have been hesitant to break tradition in the past, but this is the year everyone should consider adopting new holiday practices. Instead of going for broke this holiday season, consumers should consider bringing regifting out of the supply closet.

Did you know? 58 percent of respondents in MMI's 2007 holiday survey say they regift or are considering doing so.