American consumers are collectively sitting on a colossal mountain of forgotten cash, with a staggering $23 billion worth of gift cards remaining unused. This equates to an average of $244 for every person in the United States, money that risks being lost forever if not redeemed.
The Annual Push to Spend Forgotten Balances
To combat this huge waste of value, the annual National Use Your Gift Card Day takes place on January 17. This financial awareness campaign is designed to encourage people to hunt down and spend their dormant gift cards. Tracy Tilson, the founder of the initiative, strongly urges the public to locate these cards to avoid leaving what she describes as "free money" on the table.
The campaign promotes a straightforward, three-step process for consumers to follow:
- First, find the unused gift cards tucked away in drawers or wallets.
- Second, make a plan to use the balance, either online or in-store.
- Finally, enjoy the purchase made with the redeemed funds.
Donating Unwanted Balances to Charity
For those who receive cards for retailers they do not frequent, there is a valuable alternative to letting the balance expire. The campaign highlights that unwanted gift card balances can be donated to non-profit organisations. It also encourages retailers themselves to establish partnerships with charities to facilitate these redemptions, turning unused credit into vital funds for good causes.
The scale of the issue was underlined by a recent incident where a family accidentally purchased $10,000 worth of incorrect Disney gift cards, illustrating how easily significant sums can become trapped. With billions at stake, the message for January 17 is clear: find your cards and put them to use.
