© Yuri Arcurs / Fotolia
Sell or trade what you don't want
Ugh, did a Santa in your life give you the gift of music or a movie you already had? Or did you receive another set of garden tools? Plenty of websites allow you to sell or trade books, CDs, DVDs, apparel, electronics and even unused gift cards.
"It's a great way to recycle those not-so-favorite holiday gifts for stuff you actually want," says Jeff Bennett, the former CEO of Swap.com, an online consignment store.
Historically, swapping and resale sites have seen a surge in activity during January as people trade gifts they didn't want and clean out their closets for the new year.
Offline, you could start or join a trading club in your neighborhood with an existing moms' group or other organization.