52 Week Money Savings Challenge
We’re back for Week 12 of the 52 Week Money Savings Challenge! How is it going so far? Last week we covered Cashing Out Credit Cards and how that can help you save some money. This week, I want to cover 5 Ways to Save Money Using Gift Cards.
5 Ways to Save Money Using Gift Cards
So gift cards… what’s the point of buying gift cards only to turn around and use them as cash? Why not just use cash? One of the main benefits on using gift cards is the possible instant savings. Notice I said ‘possible’ there? Well, one thing is for sure when it comes to gift cards, you have to plan ahead. It does no good to decided to spend the same amount on a gift card that you would just spend in the store. You need to make sure you’re able to get a discount somehow on that gift card purchase. Here are 5 Ways to Save Money Using Gift Cards:
- Buy discounted gift cards. Open an account with sites like Raise, where gift cards are sold at a discount. You can even set up some alerts to your favorite stores and set it at a minimum percentage. Just make sure you read the fine print on any site and know their terms. Some sites don’t guarantee the amount listed on the card, so be aware of that.
- Use reward points. Have a credit card with a points system? Save them up and cash them out for gift cards you’ll use. Cash is great, but not every credit card offers cash back, however, some offer Amazon credit and gift cards.
- Special Discounts with local retailers. Watch your weekly ads. I’ve seen many gift card promos listed in my Rite Aid ad, as well as my Safeway ad.
- Sell unused gift cards. Just like buying discounted gift cards on Raise and other sites, try selling any unused cards that you’ve had sitting around. It’s better to get something from them rather than nothing and some cards start deducting from your balance if they sit unused for too long.
- Regift unused gift cards. I know regifting can be a controversial subject but if you’re invited to a graduation, party or ? and you just don’t have the money to use for a gift, giving a gift card This might not save you money very often, but if you have a gift card that you’re not going to use but know someone who will, instead of buying them a gift, give them the gift card. Now, if the card looks beat up, you can go to some stores and have them transfer the funds to a new card. And if the balance is an odd number, try taking it to the store and have some additional money added to it to bring the total to a good, “giftable” number.
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I’m so glad to have you on this journey with me. I’m looking forward to each week and I hope these posts and the emails are not only helpful to you, but encouraging as well.
- If you are new and just now joining, subscribe to the weekly email and download your own copy of the 52 Week Money Savings Challenge printable. All current subscribers are entered into an Amazon drawing held at the end of the month.
- If you want to catch up on the reading of each week, go to our 52 Week Money Savings Challenge page and check out each week listed, as you’re able. Don’t worry about catching up on savings amounts unless you’re able to, just start with the current week and add extra if/as you’re able.
- Want to open an online bank account to help keep things separated? I personally use Capital One 360 and have for years. It takes a few days for transfers to complete if you’re using a local bank
Before we wrap up this week, I want to hear from you! 1) What are you most excited about in participating in this challenge? 2) What are your concerns or frustrations about setting money aside?
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