As we’ve all been hearing lately, the sputtering economy is bound to put a damper on gift giving this holiday season. If you’re belt-tightening with the rest of us but would still like to give presents to those special people in your life, there are several alternatives for consideration. For instance:

* The Wall Street Journal lists gifts with a real return on investment. These ideas promise to save or make money for the recipient. Not a bad idea at all.

* Kiplinger suggests giving financial well-being. How exactly is this done? According to them, it’s achieved through gifts like a paper shredder, home safe, and (of course) a subscription to their magazine. How romantic. Of course, there is some sense to these for those of you who are more practically minded.

* Bankrate offers some recession-proof holiday gifts including both 12 suggestions as well as low cost alternatives for each of these dozen.

Then again, you may be tried of the commercialization (and expense) of the holidays and are looking for alternatives. If so, you may agree with Free Money Finance’s call to celebrate simply, not over-spending and leaving a huge debt for yourself in January. They offer four ways to do this: cut back your gift list, limit how much you spend, decide to be charitable, and determine which activities bring you real joy.

Whatever your plans for this holiday season, we wish you a joyful time, full of happiness and good cheer. Oh, and great deals at your favorite store too…

— FREE MONEY FINANCE (Photo: strobist)

Want more consumer news? Visit our parent organization, Consumer Reports, for the latest on scams, recalls, and other consumer issues.