Buzz
If you've received a gift card during the holidays and haven't used it yet, what's the hold-up? Perhaps it's a matter of convenience, like a card for a store or restaurant you haven’t had time to visit. Or maybe you're purposely (or unconsciously) saving it for an event that feels as special as the moment it was given.
As Soo Youn explains in The Lily, many of us fall into the habit of 'occasion matching' our gift cards. For instance, when we receive a gift card for our birthday, we often resist spending it on just anything, preferring instead to save it for something truly special.
Soo Youn cites UCLA professor Suzanne Shu:
People often postpone using gift cards because they want to wait for the 'perfect' moment,” Shu explained. “For example, if someone gets a Starbucks gift card, they might hold onto it for a special treat instead of using it for their usual coffee.
The problem is that no single coffee seems special enough—and when the right moment finally comes, we’ve either forgotten about the gift card or lost track of where it is.
If you want to use your gift card to indulge yourself, treat yourself as soon as you can. (This applies to restaurants too—just make that reservation and go.) Otherwise, use it the next time you’re at Starbucks, Target, or any retailer that accepts Visa—you get the idea.
Gift cards are the one type of currency that should feel like it’s burning a hole in your pocket. If you forget about them, lose them, or don’t use them before they expire, you’ve essentially wasted a thoughtful gift.
(And as I mentioned last year, holding onto gift cards is like giving the company that issued them an interest-free loan.)
If you don’t use the full amount on a prepaid gift card, consider using the remaining balance to purchase an Amazon gift card. This will automatically apply to your next order, regardless of the occasion.
