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If you received some gift cards this past holiday season that you’ve yet to use, let me ask you a question: do you really want or need more stuff?

What if, instead, you used the value of the card to pay down some credit card debt? Or make a fresh investment in your Roth IRA. Or donate the proceeds to a charity?

I bet just thinking about those options made you feel pretty good. They are acts that will enrich you. Maybe it’s having more security when you make a dent in paying off a debt. Maybe more calm that you are doing what you can to help those in need, at a time when so many are in need.

And I don’t think you really need to worry about offending the person who gave you the gift card (if you intend to tell them.) Anyone who cares about you, will cheer you on when you take steps to help yourself and help others. Isn’t that really part of the holiday spirit anyway?

If you want to convert a gift card to cash, there are websites where you can list gift cards for sale. You won’t get every penny of the face value back, but depending on the card you might get 85% or so of the face value of the card. Or better yet, send out a note to colleagues or friends offering a card at a 5% discount, or “best offer.” I bet you will get some takers.

Do it now, before you forget where you stored the gift card. Do it now, so you can turn around and use the cash toward an act that will make you feel good. That’s the best gift, and one that you deserve!

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    Categories: debt, gift giving