Former SEINFELD star JULIA LOUIS-DREYFUSS is spending less and less cash each time the holidays roll around - because she repackages her old gifts for pals.

The actress believes there's no point in holding onto or disposing of the unwanted gifts she often receives, so she wraps them up and passes them on instead.

She says, "I'm a big re-gifter. I totally believe in re-gifting. I'm also an environmentalist. It sort of fits into that ideology... I'm very proud; I wear that label."

Louis-Dreyfuss is also relieved to note that she's not yet handed somebody's gift back to them.