My wife had a great idea for one of her New Years resolutions:
Use up as many gift cards as possible.
As soon as I heard it, I thought it was a great idea that I had to share with my readers, so big shout out to Mrs. Beagle for this one.
See, both my wife and I are savers. We don’t like to spend money frivolously, and we also both spend money with assigned purpose. So when we get a gift card, whether it be as an actual gift or a store credit for a returned item, we’ll often say to ourselves that we want to use it for something specific. Then, it sits there.
For example, we’ll return an article of clothing we bought for one of our kids at Meijer, which also happens to be where we do our grocery shopping. We’ve actually sat on gift cards there with the mindset that we won’t use it until we buy another piece of clothing for that particular child. Which sort of makes sense.
But this makes sense, too: Use the dang thing since you go there every week, then you’ll have a few extra bucks in the bank that you didn’t spend since your grocery bill was lower.
So, my wife has been using a gift card here and a gift card there over the past week and a half. We haven’t come out ahead just yet simply because we both got various gift cards for the holidays, but I’ve committed to joining her in the gift card reduction program, and I think it will make things much more organized on the gift card front after we’ve made it a point to use them over the upcoming weeks.
Our strategy of holding onto gift cards too long hasn’t been working. I don’t want to go to the opposite extreme of using it just for the sake of using it, because then you’ll either end up with something you don’t need or overpay for something. A happy medium would be great!
How do you manage your gift cards?Copyright 2017 Original content authorized only to appear on Money Beagle. Please subscribe via RSS, follow me on Twitter, Facebook, or receive e-mail updates. Thank you for reading.