Maybe I would like to clean that garbage drawer.
It happens to the best of us. You get a gift card from one or more friends because you spent a certain amount at your favorite store. You have every intention of spending the money, but somehow that free money gets buried in a wallet or thrown in a drawer.
And you know what they say, “out of sight, out of mind.”
I have done this quite often. I also had a lot of gift cards for a year with only a few dollars on them. This is how it works, right? Even if you’re good at spending that free money, these cards only seem worthwhile when you know you won’t have to spend a dime. If you know you have to fork out some of your own money to get this pumpkin and spice latte, you’re less likely to use it.
This is how so much money goes unclaimed.
According to a recent Bankrate survey, many gift cards, vouchers, and credits seem to be being overlooked. Their survey found that 51% of adults are guilty of neglecting their financial giving. This led to approximately $ 15.3 billion on the table across the country.
That’s an average of $ 116 per person.
I know what you’re thinking and yes, I could use those extra hundred dollars as well. It doesn’t look much like this when it’s just a card or two here or there.
Fortunately, we better remember to use our gifts. That average of $ 166 per person is down from $ 167 per person in January 2020. Of course, I think now, more than ever, we are counting every penny on those store credits and coupons. Everything has become so expensive over the past few months and we can use all the help we can get.
And we intend to use that money when we get there.
63 percent of baby boomers said they would use their vouchers. Behind them was Gen X at 54%, followed by Gen Y at 42% and Gen Z at 32%.
In other words, if they have the opportunity.
The survey also found that nearly half of Americans lost their free money. 49% took out a gift card only to find that it had expired.
I don’t know about you, but I’ll search the house and see what I can find. Dinner might just be for me tonight!