Most of us will have received a Christmas present this year that we don’t want. Instead of stashing it away somewhere, we can turn it into cash. Here’s how…

Return It

The easiest and simplest way to cash in on an unwanted gift is to return it to the original shop. But for this we need the receipt. Some stores will offer a credit note or exchange without a receipt – so it’s best to speak to the store manager or check the returns policy online first. With most of our shopping made online this year, this option could be difficult. However, Amazon allows us to request a refund or credit note if the item was marked as a gift at the time of purchase. 

Re-sell

There’s always the option to sell any unwanted gifts on sites such as eBay, Gumtree or Pre-loved. Take a look at our guide to selling online 

Donate

We won’t make any money this way but we’ll feel good knowing our unwanted gift has gone to a much-needed home. Charity shops, local libraries and shelters are usually always accepting donations although these too may be closed during lockdown. Check before lugging bags of unwanted goodies all the way there.

Recycle

For unwanted clothes or shoes, it’s worth finding out if they can be recycled. Retailers including H&M, M&S and Schuh have recycling schemes taking in our unwanted items and offering a voucher to use in-store or online. Other shops have schemes offering a discount off our next purchase in return for a donation. The reGain app promotes stores that offer this (Superdry, Dune, and New Balance all take part).

Rent it out

Renting out has become increasingly popular. There are now a number of websites that allow you to rent out pretty much anything, from clothes to cars and bikes. Check out RentNotBuy and Rentmydress.com 

Re-gift

If it’s too much of a hassle to resell an unwanted gift, why not save it to give to someone else? Toiletries or a box of chocolates make the perfect birthday or ‘thank-you’ gift, saving us some cash along the way. We just need to make sure it doesn’t go back to the person who gave it to us in the first place.