Tips to avoid getting caught in the $142 million gift card trap

By the Money Team at Money Magazine.

 

Are you throwing money in the bin?

Aussies are throwing away millions of dollars each year in unredeemed gift cards, according to research by finder.com.au, which found that 14% have let funds expire on gift cards in the past two years.

On average, $54 is left on gift cards, which equates to a whopping $142 million in unused funds over two years.

You shouldn’t let any gift cards go to waste.

As Bessie Hassan, money expert at Finder says, whether Aussies are forgetting about the whole voucher or spare change left on it, they are giving retailers a free ride.

If you find yourself with a voucher you’re not likely to use, then consider selling it. “Websites like CardHub are great if you receive a gift card for a shop that’s totally not up your alley.

CardHub allows you to buy or sell your gift cards at a discount. This way you can buy a gift with a voucher that’s best for you, or spend the cash,” says Hassan.

You could also try eBay, Gumtree or any local buy, sell, swap groups on Facebook.

Try to spend it all at once if you want to avoid wasting funds, says Hassan.

“If you find you really can’t spend the full amount on your gift card, ask the sales assistant to write the remaining total in permanent marker on the back. This way you’ll know how much you can spend,” recommends Hassan.

By | 2017-11-01T01:18:02+00:00 November 1st, 2017|Home & Living|0 Comments

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