If you walked away from the holidays with a fistful of gift cards, you should keep track of them just like you would your regular cash.
That according to White County UT Extension Agent Mallory Paige Christian. She said it is important to educate yourself on how your gift cards work. Some of them can come with extra fees. Some gift cards can even expire if not used over a period of time.
“It’s the holiday season,” Christian said. “Sometimes that’s the go-to gift and you get so many and you accumulate so much. You know, keeping up with those, how much you spend on them and how much you can use for the next trip is something very important to keep up with.”
Christian said gift cards should be closely tracked. She said you could even incorporate Visa or grocery gift cards into your regular budget.
“If you carry around like a Sharpie or something in your purse, you want to keep up with how much is left on the gift card,” Christian said. “Keep a gift card log. You know, if you have pin number, if you have money left on it, keep track of that and just stick it in your wallet or something.”
Christian said if you purchased more gift cards than you could gift or are looking to turn gift cards into cash, refunds are possible.
“It just depends on the store,” Christian said. “Typically the big packs like that it is a little harder to get a refund. If you just have a single gift card some places will give you a refund. Sometimes you have to have 14 days or so after the purchase. Each brand and company is different that is just something you have to look for when you buy these gift cards.”
Christian said if you get a card to a place you do not like to shop with no proof of purchase, there are solutions as well.
“If it’s not particularly your style or something like that, you may have another friend or somebody in mind that you can give it to,” Christian said. “You can go in there and buy something and donate it to a shelter or location or something like that. You can kind of use it for more as a service instead of a gift for yourself.”
The post UT Extension Agent: Manage Your Gift Cards Like You Manage Your Cash appeared first on News Talk 94.1/AM 1600.