Save Money Millennial Money: How to say no to gift exchanges

As your social circle expands, so does your holiday shopping list. But what happens when you can’t really afford to buy gifts for everyone? One option: Cut back on gift exchanges. Last year, 65 percent of millennial shoppers put gifts on their credit card. This year, roughly a third of them are still paying off that debt, according to an annual survey of holiday shoppers from Nerdwallet.

Prioritize your gift list: Your budget may allow for some gifts, but there’s a good chance you’ll need to make some cuts.

Work Secret Santa: “If there’s a work setting where everybody’s participating, you must participate,” said Jennifer Porter, a manners teacher. “It shows goodwill. These are your col- leagues. Pony up for that and feel good about it.” However, if your office is large enough, you may be able to opt out without anyone noticing. Just don’t sign up. End of discussion.

Another option: Consider regifting that candle you got last year — you know, the one in your closet. (Fun fact: 82 percent of millennials regift holiday presents, according to the survey from Nerdwallet.)

Friend and family gift exchanges: Your immediate family is likely on your must-gift list, but extended family may not make the cut. The same is true for your closest friends versus your larger friend group — book club, brunch club, bros club and so forth. It’s OK to ask to scale back things to fit your budget. — Nerdwallet