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AboutPress Release

Regifting: It?s Time to Ask, Why Not?:

Money Management International Provides Options to Spending More Than You Can Afford

HOUSTON (December 7, 2007) ? Regifting has arrived. According to a recent survey by Money Management International (MMI) if you haven?t regifted, you are in the minority.

Media Contact:  

Tanisha Warner
Communication Specialist
713.394.3202
Tanisha.Warner@MoneyManagement.org

 

What was once a shameful secret is now a mainstream practice that receives increased attention during the holidays, when consumers are inspired or guilted into buying for everyone from family members to the dog walker. MMI?s holiday site, www.regiftable.com, is a forum for all things regifting, including more than 700 consumer stories running the gamut from the heartwarming to the horrifying.

This year, there are more reasons than ever to regift:

-Everyone is doing it.  Well, nearly. 58 percent of respondents in MMI’s 2007 holiday survey say they regift, or are considering doing so.

-Times are tough.  Rising gas and energy prices, home foreclosure rates, rising credit card minimum payments, the list goes on.  42 percent of MMI’s survey respondents regift to save money.  With consumers expected to spend an average of $900 this holiday season (according to the National Retail Federation), many will accrue credit card debt that lingers well into the New Year. 

-Go Green.  For the first time in history, consumers are considering the impact of the holidays not only on their pocketbook, but on the environment.  The good news is that “going green” doesn’t mean forgoing all gift-giving and decorating.  Regifting is a small step towards reducing this holiday’s environmental impact.

-It’s the thought that counts.  MMI’s survey found that regifters have good intentions. 62 percent regift because they think it is something the recipient would really like.

"Whatever reason you choose, being a savvy regifter is key. When people say, ?really, you shouldn?t have,? you don?t want them to mean it,? said Cate Williams, vice president of financial literacy for Money Management International. ?With a little care and common sense, you can help keep your holiday spending under control, and participate in the holiday tradition of gift-giving."

For regifting dos and don’ts, interesting facts and figures, games, and more, visit Regiftable.com.  You can also share your regifting stories for a chance to win a prize! 

About Money Management International
Money Management International (MMI) is a nonprofit, full-service credit-counseling agency, providing confidential financial guidance, financial education, counseling and debt management assistance to consumers since 1958.  MMI helps consumers trim their expenses, develop a spending plan and repay debts.  Counseling is available by appointment in branch offices and 24/7 by telephone and Internet.  Services are available in English or Spanish.  To learn more, call 800-762-2271 or visit www.moneymanagement.org.

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