Thanks to all who voted in last week’s poll. As this press release shows, people waste time and money buying gifts that are ultimately returned or stuffed in a closet. I don’t want to sound greedy here because I truly appreciate the effort made by thoughtful gift-givers. It’s just that in this economy, when people are stretched for both time and money, I hate to see either resource go to waste.

What a Waste

We waste time and money several ways, such as:
- Time spent shopping for gifts that are ultimately returned
- Time spent standing in return lines
- Time spent looking for replacement items that may or may not cost the same amount
- Time spent online calling or cybershopping to find the given item in a better size or style
- Money spent but never recouped when a gift is returned without a receipt
- Money put on store credit that may never get used
- Money spent on shipping that isn’t refunded when an online purchase is returned

And the BIGGEST sin of all (in my opinion)

- Time and Money spent on gifts that are kept but will knowingly never be used.

I’m guilty of all of these crimes. Gift cards aren’t the perfect solution because a poorly selected gift card can be just as wasteful. But if you follow my 5 Steps to Better Gift Card Giving, you’re sure to save yourself time and money on the giving end and I’m betting that the recipient will do the same.

A Toast

So, here’s to gift cards, my friends. May we give them. May we receive them. May they afford us the chance to buy the things we really want or need without wasting so much time and money.

Even a cash gift could be made personal

I’m often asked the question–why not just give cash?

Simple Answer

If you give me cash, I’ll spend it on gas and groceries before the week is out. I’m a mom on a budget. I don’t often indulge in pretties for myself because the kids need new shoes, braces, cleats, field-trip money, and so forth. I’m not complaining because we have it good compared to so many others. I’m just saying that cash will get mindlessly absorbed into the family finances but a gift card will be mine to mindfully spend on myself–without feeling guilty. And that is a gift.

If You Do Give Cash…

Many of my gift card suggestions can dress up a monetary gift as well. Several of the All Occassion ideas translate nicely. For example, put a roll of cash around a pizza cutter and deliver ”Pizza Dough” that will surely get eaten.

I don't want to feel like Michael did.

The holidays are just around the corner and I’m not ready! I don’t mean that I haven’t bought my gifts yet (I haven’t). I’m just not ready for it to BE the holidays–not ready to pull out the decorations, make “the list,” check “the list” a bazillion times and still forget something. Not ready to gain five pounds. Not ready for the craziness to begin. I’m not quite the Christmas Kranks, but I like a clean house, a simple lifestyle, and under scheduled kids. It doesn’t always happen, but it’s less likely to happen once we start rockin’ around the Christmas tree.

Goal: Simplify with Gift Cards

This year, I am going to use gift cards to simplify my life. Rather than chase all over town buying traditional gifts, I’ll buy gift cards by the armful. And with the time savings, I’ll be able to make the those gift cards more personal. I’m even thinking the kids might find a gift card or two in their stockings. Because one thing I like less than clutter, is wasting time and money. With gift cards, the recipient can buy something he or she wants. With my personal touches, I’ll feel good about giving the gift cards as well.

Goal: Take Advantage of Gift Card Offers

I’ll be on the lookout for the “Give one, Get one” (G.O.G.O.) gift card deals and might even buy gift cards from online discounters. Though I prefer to pick a gift card off the rack so I can hold it, get inspired by it, and check for fees and expiration, the discount savings at places like Plastic Jungle can’t be ignored.

Goal: Budget.

Though it’s hard to find traditional gifts that fit exactly in your budget, with gift cards you decide how much to spend and don’t have to give a penny more. I rarely blow my budget on the accoutrements that go along with the holidays, but I do sometimes go overboard on the gifts. Another reason to stay with the gift cards.

Goal: Enjoy it.

With these parameters in place, I vow to enjoy the holiday season–even embrace it’s coming. If the worst problem I have is too much holly in the hallways, then I’ve got it pretty good. And I do. I just want to simplify the gift giving and keep the budget in check so I can spend more time reveling in the the blessings of this holiday season and less time worrying about it.

Savvy shoppers save money with gift card offers

With each holiday, I see an increasing number of bonus gift card offers. They go something like this: Buy a gift card for a specified dollar amount and get a lesser gift card for free. Savvy shoppers can take advantage of these incentives to save a few pennies.

For Example:

For example, my local Safeway is offering a $10 coupon on my next shopping trip if I buy $100 or more in Visa Gift Cards. Now, Visa gift cards typically have an activation fee. But if the activation fee is less than ten dollars, then I could earn a few bucks just by buying the gift card. But do I need a Visa gift card? Sure. Here is how you pocket a few dollars without buying unnecessarily.

Take Advantage:

• Buy a Visa gift card for your personal shopping–an upcoming vacation or just daily expenses. You’re spending the money anyway. Putting your money on the gift card first simply allows you to get the bonus groceries.
• Buy a Visa gift card to put kids on a budget. Got kids going off to college, in need of spending money, or wanting to do a little back to school shopping?  With a Visa gift card, they can shop anywhere they want, but have to stay within the limit of the funds on the gift card.
• Plan ahead and buy gifts early. Think about upcoming birthdays, weddings, or even holiday shopping. If you’re going to spend the money in the near future, might as well save on groceries while you’re at it.

Expiration Dates?

One word of caution is to check the expiration dates. Thanks to gift card laws changing in August, the gift card you buy will be good for at least five years so you don’t have to worry about shopping too early. But the bonus gift card (in this case coupon), is likely only to be good for a specified period of time. So check restrictions before you buy.

Think Ahead

If you’re buying more than one gift card, you might need to do it in separate transactions so you can get the bonus for each gift card purchased–rather than one bonus for the total number of gift cards you buy. Check with the cashier to see if there is limit so you don’t over strategize.

Read the back of the gift card to learn about possible fees and expiration.

In 2009, laws went into effect that prohibit gift cards from expiring before five years from the date of purchase. Some states enacted stronger laws and those take precedence over federal. (You can check your state laws here.)

In my opinion, the most important change is that terms of expiration must now be clearly and conspicuously stated on each gift card. So I always flip over gift cards to check for gotchas before purchase. As companies come into compliance, finding this information has gotten easier. For example, at Target, gift cards clearly state, “No fees. No expiration. No kidding.” That makes it easy.

Be aware, however, that rebate gift cards are different. For example, if a store offers you a free $10 gift card with the purchase of a $25 gift card, the $10 bonus card (or rebate) may only be valid during a specified time period. Certainly, this information should also be marked. Though you can keep the rebate gift card for yourself, it’s also fine to give it to the recipient along with the other card–making sure to point out the difference.

Admittedly, I’ve tripped over this one myself. My husband and I received a gift card plus rebate card to Benihana. But we didn’t notice the rebate gift card could only be used during a certain time frame until after we’d polished off our Splash ‘n Meadow combos. Oops.

Though fewer gotchas exist, it’s still a good idea to look for terms on any gift card you purchase. If you can’t find that information clearly marked, pick another card. Doing so will be just another way to ensure the recipient gets the most out of your gift card gift.

Read all of my gift card rules:

• Gift Card Rule #1: It’s Not About You

• Gift Card Rule #2: Location, Location, Location!

• Gift Card Rule #3: Buying Power

• Gift Card Rule #4: Avoid the Gotchas

• Gift Card Rule #5: Something for Now and Later