Creating new holiday traditions

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It happens each year. People rush out to buy gifts for their loved ones during the holiday season. Some gifts are great and some…are not so great.

The creators of announce its fourth annual regifting story contest. The contest runs through December 31. People from around the nation are invited to share their regifting stories and videos for a chance to win prizes valued up to $500. Regifting is the art of taking an unused gift and giving it to someone else during the holidays.

58 percent of respondents in MMI’s 2007 holiday survey say they regift or are considering doing so. is a forum for all things regifting, including an archive of more than 1,000 consumer stories running the gamut from the heartwarming to the horrifying. In addition to this year’s regifting story contest, the site also offers fun games, facts, personalized gift certificates, regifting party rules, regifting blog , and much more. 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. This year, holiday gift-giving 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 broke this holiday season, consumers should consider bringing unused gifts out of the supply closet.