Gift cards have become a popular gift option for many people, as they offer the recipient the freedom to choose what they want to buy.
However, purchasing gift cards can be a costly expense, especially if you’re buying multiple cards or large denominations.
Fortunately, there are several ways to save money when buying and using gift cards, making them a more budget-friendly option.
Gift Card Promotions
One of the best ways to save money on gift cards is to look for discounts and special promotions offered by retailers. Many stores will offer discounts on specific brands or restaurants, or offer bonus cards with the purchase of a certain amount.
For example, a retailer may offer a $50 gift card for a specific restaurant for only $40 or offer a $10 bonus card with the purchase of a $50 gift card. These promotions can save you a significant amount of money, so it’s important to keep an eye out for them.
Gift Card Exchanges
Another way to save money on gift cards is to use online gift card exchanges. Websites like Cardpool and Raise, allow you to purchase gift cards at a discounted price, and also allows you to sell your unwanted gift cards.
This can be a great way to save money on gift cards while also getting rid of ones you won’t use. These platforms also offer an extra layer of security, by verifying the authenticity of the gift cards before they are sold.
Earn Cash Back
Cashback apps such as Rakuten and Dosh, also offer cashback on gift card purchases. This means that you can earn cashback on top of the discounts you’re already getting on gift cards. It’s a win-win situation, as you can earn money back and save money on the gift card purchase.
Buy Gift Cards in Bulk
Another way to save money on gift cards is to look for deals on bulk purchases. Some retailers offer discounts on bulk purchases of gift cards, which can be a great option if you’re buying gifts for a large group or if you plan on giving gift cards as gifts throughout the year.
For example, a retailer may offer a 10% discount on the purchase of ten $50 gift cards, which can save you a significant amount of money.
Take Advantage of Holiday Sales
Retailers also offer special deals and discounts on gift cards during holidays, as they are a popular gift option. Keep an eye out for these deals and take advantage of them when they’re available. For example, a retailer may offer a $20 gift card for only $15 during the holiday season.
Use Points from Store Purchases
Additionally, some retailers offer loyalty programs that allow you to earn points or rewards for gift card purchases. These points can then be redeemed for discounts or free gift cards. This can be a great way to save money on gift cards over time, as you can earn rewards for every purchase you make.
Buy E-Gift Cards
Lastly, digital gift cards are also a great way to save money. They are often cheaper than physical gift cards and can be delivered directly to the recipient’s email. This eliminates the need for shipping costs and can be a great way to save money on gift cards.
In conclusion, buying and using gift cards can be a budget-friendly option if done strategically. By keeping an eye out for discounts, promotions, and special deals, you can stretch your budget further and give thoughtful and meaningful gifts without breaking the bank.
Additionally, taking advantage of gift card exchanges, cashback apps, loyalty programs and digital gift cards can also help you save money. Remember to also check the expiration date and the terms and conditions of the gift cards you purchase, to ensure that the gift card is valid and can be used before it expires.