We've all been through that moment. Beaming eyes surround you as you open that neatly wrapped parcel to unearth a hideous jumper, or the day's fifth pair of socks!
Although the thought's always there, sometimes the adage "oh, you really shouldn't have" can never ring more true.
But luckily, it seems even unwanted Christmas presents are having a use in today's climate, with some parents selling them on to help pay for this year's festivities.
New research from Barclaycard has found that with many families struggling to pay the usual mortgage, fuel and food bills amid continuing high inflation and rising unemployment, some 6% have resorted to selling the unwanted gifts they received in 2010 to cover the costs of a family Christmas this year.
The study found that almost half of us have been unable to save anything throughout the year to help pay the bill for this year's festivities, and even those that did put a little aside each month have not seen much benefit to the savings, amid low interest rates.
But rather than see family and friends go without as gifts are exchanged, a worrying one in five are turning the central heating off to save money, just as the first cold snap of the winter strikes Britain.
Despite the rising cost of living and the economic uncertainty, researchers found that half of us will still risk the problems of debt by spending the same amount on Christmas food and drink as last year.
With that in mind, Citizens Advice chief executive Gillian Guy said: "For anyone who does run into difficulty our advice is always to seek help as soon as possible so you can get your finances back on track and avoid spending next Christmas worried about your money."
If your financial situation has become unbearable over this festive period, help is always at hand. Have a read through this advice on emergency financial help for some ideas.