Return and Exchange Guide for the Holidays

1. Know your retailer's return policy. Keep track of how long you have to return purchases.

2. Keep your receipts. One good way to keep your gift recipients happy is to enclose the receipt in an envelope, tucked away beneath the present, giving them a chance to exchange it if necessary.

3. Stores can also provide special gift receipts which can mask the purchase price if you want to be discreet, at least initially, about what you paid.

4. Be aware that some retailers may not give refunds and may only give store credit.

5. If you don't have a receipt, stores may just give store credit.

6. Often, online purchases through auction sites or classified listings are final. Think through your purchases well.

7. Be aware of restocking fees, especially for electronics purchases.

8. Purchases at stores going out of business may not be returnable.

9. Paying with a check may delay refund times.