Building Your Gift-giving Budget

With tough economic times upon us, this approaching season is instilling panic and fear in the hearts of consumers as they remember the astronomical holiday bills of years past. To cope, many are opting to keep their hands firmly planted in their pockets. Consider a few simple ways to lessen the burden of this costly tradition by cashing in on your unwanted items: An extra hundred dollars can easily be found in the depths of your jewelry box as a broken gold chain, stray earring or the hideous necklace you received during the holidays last year.

Gold and other precious metals like silver and platinum are reaching historically high prices, causing cash-strapped Americans to turn in their broken jewelry to reputable Web sites like Dollars4Gold.com and Goldfellow.com for cash in return. After organizing your jewelry box, consider swapping your old gift cards for cash through Swapagift.com. There, you can sell the gift card to the store you've never frequented, swap it for a store of your liking and even buy new gift cards for your loved ones. This is a one-stop gift card e-shop. If the weather is already too cold to hold a garage sale, organize a virtual one.

Gold isn't the only metal that's precious these days. Have any metal scraps hanging out in your garage? Big money can be found there as well, as non-precious metals grow more expensive too. You might even want to cash in on your empty aluminum cans if your state permits it. Let's not forget the piggy bank. Gather the loose change floating around the house, in your car, in your jeans from last season, and turn it in for the much-preferred paper equivalent of money.

Through Web sites like E-bay or Amazon Marketplace, one can sell last year's gifts that didn't make the cut to buy new ones. For all the New Year's resolution-making recessionistas out there, reinventing your look in the current economy may seem impossible. Have no fear frugal fashionistas, my friends at DSW have shared some tips and affordable accessories to reinvent your style on a dime! (OK, not literally. But close enough.)