To Save Money, Buy Gift Cards With Your Leftover Gift Cards – Week 5

For its fifth challenge, Metro’s Small Changes Big Win series shows you how to save $47 just by using up leftover gift cards.

Small changes to the way you spend can add up. We’ve pulled together weekly tips that will add a minimum of $10 to your savings. Ready to watch your money grow? Check out this week’s tip.

Week 5: Buy gift cards with your leftover gift cards.

How It Works: Earlier this month CIBC released their annual holiday spending and trending report. On the top of the list of what adults love to receive is gift cards or money. Not surprisingly, people simply don’t want things they don’t get to pick themselves. The exception to this trend is teens and children who are gunning for electronics and toys linked to their favourite flick from this past year.

According to a recent Ipsos poll, the average Canadian has approximately $5 remaining on EACH gift-card they received throughout the year for a whooping total of $47 across multiple cards.

Rather than recycling the cards, you can use them this holiday season to buy new cards that can be given out as gifts to the special people in your life.

Take Action: This week, gather up all of your leftover gift cards. Pair up the brands that are the same and combine them. Then visit the store online or in-person and use all those leftover bits of gift cards to buy new gift cards of even values.

Never give an odd-valued, or physically damaged, gift card. You’ll look like a cheapskate.

Once complete, e-transfer $47 into your savings account (or the equivalent value of the remaining balances).

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