5 Ways Gift Cards Can Save You Money

For the last several years, gift cards have been the most popular gift to give and receive. With the many options for products, activities and downloads, gift cards have certainly made it easier to shop for my teenagers at home and family far away -- I know they'll all get exactly what they want this holiday season.

There also are many ways gift cards can save you money that aren't as obvious. Let's start with the unused gift cards you probably have stashed in drawers, computer bags and old purses. I know for a fact that one of my kids has a gift card to a local book store that she hasn't touched since her birthday in August. There's a good chance you have more than a few that are either totally unused or have a partial balance. You can make use of those cards this holiday season and save a little cash in the process. Here are five tips for just how to do that:

Use them:

Once you've gathered up all of those cards and checked the balances, compare them with your current holiday shopping list. What better way to save your money than to spend unused gift card balances on this year's presents? This is a great option for the cards you don't tend to use -- instead of them expiring or collecting dust, you can buy someone who appreciates that store a great gift.

Trade them:

If you have a few gift cards for stores that simply don't carry anything on your list, consider trading them for cards you can use with a gift card exchange service. There are several websites, including Cardpool, CardHub and GiftCardGranny, that make it easy to exchange gift cards you're not likely to use for the ones you want. These services work like a clearinghouse for unused or partially used gift cards. They buy unused cards from people just like you, verify the balances, and then sell them to shoppers looking to save money on gift cards.

Sell them:

Gift card exchange services are super convenient, but you don't have to exchange your unused cards; you also can sell them for cash. (Be aware that you won't get the full balance value for your unused gift cards since they're used.) The sale pricing is based on the demand for the retailer. For instance, there is a lot of demand for cards from retailers like the Apple Store, Walmart and Whole Foods. You'll get close to the full value for high-demand cards. However, gift cards from companies like New York & Company, AMC Theatres and Bass Pro Shops aren't as popular, so you won't get as much cash for them. Don't worry -- you'll still get a fair price.

Stack them:

There are plenty of opportunities to save even if you don't have unused gift cards lying around in the bottom of drawers. Discounted gift cards are a great way to save some cash when holiday shopping. Along with buying used cards from the card exchange sites already mentioned, you can get new gift cards at a discount at places like Sam's Club and Costco. Right now, you have plenty of time to be strategic and purchase discounted cards to use on Black Friday to stack up the savings. Think about it: let's say you buy a Macy's gift card at a 10 percent discount, and then take advantage of promotional pricing during the Black Friday weekend. You have maximized your savings opportunities. Keep in mind that the numbers I'm giving you are just to illustrate the concept. It's up to you to hunt down the best deal you can.

Give them:

Of course, there's the obvious money-saving option of giving discounted gift cards. Take advantage of the discount resources I've mentioned, and give the people on your list the gift cards they really want at a price that brings you holiday cheer. (They never have to know you bought them at a discount.) Or, use some of those credit card rewards to get a gift card at no cost to you. No matter what frugal opportunity is a fit for you, a little creative thinking and some strategic planning can add up to some seriously holly jolly savings.

Here's wishing you a joyous holiday season and a thrifty new year.

Michelle Stinson Ross is the social marketing manager at Offers.com. She's a working mother of three teens and a digital diva who loves a great deal.