How to Manage Your Gift Cards
Keeping it Organized:
Gift Card Best Practices
Yay, a gift card!
Gift cards are one of my favorite gifts to receive (and gift). It provides flexibility for the recipient and encourages the recipient to spend it on something “fun” unlike straight-up cash, which sometimes goes towards paying monthly bills.
However, I’ve noticed that keeping track of gift cards can be difficult. When working with clients, we sometimes uncover HUNDREDS of dollars worth of gift cards gone unused because they’ve been forgotten about. (In some cases, the retailer is no longer in business anymore!).
Here are 3 steps for creating a system that keeps your gift cards organized, so that you can enjoy them!
Joy-check your gift card
When you receive a gift card, first decide whether or not it is for a retailer that you would enjoy. Having $25 to a restaurant you dislike is essentially $0. If you do not enjoy the retailer here are some options:
Re-gift the gift card: You may not like the restaurant, but maybe Auntie Tammy does.
Sell or exchange the gift card: You can sell or exchange gift cards (for one you do like!) for partial value with sites like Card Cash.
Donate the gift card: The no-hassle easy option is to donate the gift card to a friend, neighbor, or charity. Sending a quick text or email to possible recipients will get that gift card moving!
2. Mark the gift card’s value
Now that you’ve determined this is a gift card you want to use, it’s helpful to remember how much money you have on it. Remove it from its wrapping, write how much money is on the card on a sticky note (cut it to fit the card), and attach it to the card. As you redeem it, update the sticky note with the remaining balance, so you always know how much is left on the card.
3. Store the gift card where you’d use it
Designating a specific home for your gift cards will help you remember that you have it to use. Depending on what the gift card is for determines where to store it. Here are some storage options to consider:
Store it electronically: for retailers with online accounts or mobile apps (like Amazon or Starbucks), immediately add it to your account and discard the physical card. The account or app will automatically keep track of your remaining balance and it will be loaded and ready to go (and may even prompt you to use it as a payment method!).
Store it in your wallet: for retailers that you frequently visit, having the gift card front and center with your credit cards is a great visual reminder to use it.
Pin it up: If you are a visual person, clipping it to the fridge or bulletin board can be another helpful visual reminder.
Create a file system: If you have a lot of random gift cards that you’re not sure when you’ll use, get a small box or envelope and create a filing system for your gift cards. Categorize the gift cards by similiar functions and label. For example, if you’re using an envelope, use a rubberband to gather all the restaurant gift cards and attach a sticky note that says “Restaurants”. You’ll want to designate a specific spot in your home for this file system, so that you can easily find it.
Helpful organizing products:
BONUS TIP: store coupons and receipts with your gift cards for quick and easy access!