by Bethany Clayton

Created on: December 17, 2008   Last Updated: December 18, 2008

On December 1, the National Bureau of Economic Research certified that the past 11 months of economic stagnancy in the United States has indeed been a recession. Glad we got that cleared up. Unfortunately, the news doesn't make this holiday season any less light on the green.

After regifting the last cheese log and exhausting the creative depths of popsicle sticks and red and green sprinkles on home baked goods, there still remain a few uncommon ways to pinch a penny.

First, for festive flair, scavenge the garage for items to reuse or repurpose. A nonfunctional string of lights may cost $20 to replace, but a small pack of replacement bulbs will only set you back about $2. Last year's Christmas cards can be redisplayed as is or craftily clipped to make wreaths, collages, or place cards. The tree needn't be a budget-buster either. An arrangement of stark winter branches in a bucket of styrofoam and a tree skirt, or an inverted tomato cage wrapped in colorful garland are just two playful alternatives for displaying favorite ornaments.

Second, don't blow the grid with that National Lampoon inspired lights display. Set exterior lights on a timer, or only run them on weekends and the days immediately leading up to the holiday. Run interior lights sparingly when at home. Keep the heat programmed to 68 degrees F, and snuggle up with cocoa and a throw by the fireplace instead. When baking those homemade gifts, use the microwave rather than the oven - think gooey bars and no-bake cookies. Fifteen minutes of microwaving is equivalent to one hour of baking in an electric oven - one-quarter the energy usage, one-quarter the cost.

Third, you be the host. This may seem counterintuitive, but consider that by hosting, you save on gas and other travel expenses. Organize your gathering as a gift-free, recipe exchange and potluck and save money for both yourself and your guests.

Finally, lose any hang-ups you may have about the word free. Skip the pricey photos-with-Santa racket at the mall and the advance-ticket-only lights displays. Check your city or county's local events calendar for details on attending the free municipal tree-lighting ceremony and holiday parade. Santa is typically in attendance and available for quick free snapshots. Spend an evening driving through locally notable neighborhoods for a glimpse of fantastic free light displays. Join your area freecycle, and scan it periodically for free gift possibilities - and a chance to help others keep giving thrifty this season.

Unusual ideas for saving money at Christmas abound, and the thought spent is inexchangeable currency.

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