Fresh off the holiday season, did you get a lot of gift cards?
With 76% of shoppers planning to buy a gift card or subscription to someone in 2019, there’s a concrete growth in the market. The effect is doubled once you take into account COVID-19 and the rapid expansion of online shopping in 2020.
However, most people are unaware of the sheer versatility of buying gift cards to save money on things like groceries, gas, and even travel.
If you’re curious about the benefit of buying discounted gift cards, you’ve come to the right place. Keep on reading for our full breakdown of buying discounted cards, how much you get to save, as well as where to get them.
Discounted Gift Cards 101: Is It Worth It?
Depending on the category of the gift cards, your savings can range from 1% to 30%. Generally speaking, it’ll follow the demand for these specific gift cards, as well as the stores, and how much they’re worth.
For instance, you’ll find that most grocery store gift cards will have lesser discounts. That makes sense as everyone would love to save on groceries. On the other hand, you’ll find that restaurants and retail stores can grant you higher savings because the demand will depend on people’s taste, which varies widely.
Where to Buy Discounted Gift Cards
There are two main ways for you to get your hands on discounted gift cards. There’s the old-school way, and the new online ‘money earning’ app way.
Let’s start with the traditional one.
Taking Advantage of Buy One Get One Offers
Around the holiday season, you’ll see many stores, shops, and restaurants run different kinds of promos. You might find great ‘buy one get one’ offers for gift cards.
These tend to target buying a gift card for yourself, and a friend as a bonus. For example, some restaurants might offer you a free $15 gift card if you buy a $30 gift card for a friend.
However, you can make use of the offer by buying them for yourself. In the previous case, that’s a free $15 that you can use at your own leisure.
Gift Card App
You can buy and sell gift cards through a streamlined process if you use a specialized app, like the Raise app. These money making apps are great for folks who want to cut through the chase.
They allow you to both buy or sell gift cards, which is great for nabbing discounted gift cards during the off-season, as well as centralizing the process of giving your friends gift cards for the holidays and other occasions.
As it’s purely electronic in nature, you get to enjoy the instantaneous benefits of making money through the press of a button.
Ready to Make Some Money?
At first, it might be a bit confusing for the gift card newbie to understand exactly where they’re getting their savings. However, after reading our little guide on buying discounted gift cards, we hope that you have a much better grasp on the whole process.
Yet, there are still so many other tips that can help you get your finances in shape.
Check out our ‘money’ section for all the fresh tips and tricks that will help you grow your wealth healthily and steadily.