3 tips for the delicate art of regifting

While some are stressing  over holiday shopping,  there is a cheaper and less risky alternative -- shopping from your own shelves and storage closets.

Yes, regifting has become part of our culture, says Roberta Schroder, chair of the economics and finance department at Nassau Community College.

Not only can it save money, but it also can cut down on the stress and time demands of shopping and returning or exchanging unwanted items. "You're killing two birds with one stone," she says, as well as directing items to people who'll appreciate them more.

But it is a delicate art. Here's what to consider:

1. Organize: Hopefully you've labeled prospective items indicating who gave them -- to avoid recycling them into the same circle of friends, family and co-workers -- and when you received them, especially if they're under warranty or could have deteriorated, like last year's fruitcake.

2. Repurpose: Regifters generally give things they think the recipient will truly like, says Kim McGrigg. She's the Denver-based online community manager for Money Management International, a nonprofit credit-counseling agency that also runs Regiftable.com, which features stories and tips.

It's putting "new life into something you already have," she says, as well as a way to avoid overspending. She asks those financially strapped but uneasy about regifting to consider: What if the recipient knew of your financial hardship? Would the person still want the gift?

3. Alternative: You can also spread cheer by giving time and attention. At Regiftable.com you can customize and download free gift certificates on which you promise to do things like help shovel the walk, wash the dog, clean the attic.

"Time," says McGrigg, "is also a valuable gift."