Well that's an interesting concept! (Gift card strategy!)
By AmberLynn
@ScribbledAdNauseum (104628)
United States
December 30, 2015 2:02am CST
Phew! The most expensive time of the year is over! Now it's almost time to take down those decorations and enjoy the many gifts you received from family and friends!
I just saw a post on facebook that said "buy a gift card every paycheck to save towards Christmas." I think that's a pretty good concept. The idea is to buy the gift cards and stow them away, this way at Christmas time you are not going broke. Of course this only applies to gift card which will retain the full value even after months of inactivity.
What do you think? New plan for a new year?
12 people like this
13 responses
@ScribbledAdNauseum (104628)
• United States
30 Dec 15
I used to use my profit sharing check but they moved the month we get it up to September. I guess I'll have to figure something else out for this Next Christmas.
1 person likes this
@ScribbledAdNauseum (104628)
• United States
30 Dec 15
@mawhite "tagged" ? SO it's not a separate account? I have two savings account. One is linked to my checking account in that every time I use my debit card $1.00 is autodrafted to the savings account. Another takes $25.00 out of my account each month towards a saving account I've labeled "Finances"
1 person likes this
@AbbyGreenhill (45494)
• United States
30 Dec 15
Good idea but some of them have expiration dates on them! Christmas decorations say up until next week, for Russian Christmas.
1 person likes this
@ScribbledAdNauseum (104628)
• United States
30 Dec 15
Ah some DO expire, but very few that I know of. It's the ones that decrease in value that I am worried about the most. Learned something new about Christmas. The cleaners that come into the sore I work for are Russian.
1 person likes this
@ScribbledAdNauseum (104628)
• United States
30 Dec 15
@AbbyGreenhill oh? Don't you also have to spend a certain amount on the gift card? It can't be one of their cheaper options if I am not mistaken.
@AbbyGreenhill (45494)
• United States
30 Dec 15
@ScribbledAdNauseum When you buy them for restaurants they give you a 'free' one and those are only good for a few months.
@wildlittlefan (4680)
• Hong Kong
30 Dec 15
Hey, I like your title " by escape to Narnia". I think it's cool. And yes, we need new plan for new year. However, only one more day leave and this year will be gone forever and I haven't figure out my new plan yet. 
Anyway, I surely need anew plan for 2016 and I don't want to waste anytime anymore for time is just going fast. 
Anyway, I surely need anew plan for 2016 and I don't want to waste anytime anymore for time is just going fast. @ScribbledAdNauseum (104628)
• United States
30 Dec 15
Thanks! :) I kind of like the title I've given myself as well. The year has gone by so fast, it's hard to believe isn't it?
@arthurchappell (44998)
• Preston, England
30 Dec 15
gift cards can be a good investment - not just for Christmas though - we shouldn't live 11 months of the year preparing for just one
1 person likes this
@arthurchappell (44998)
• Preston, England
30 Dec 15
@ScribbledAdNauseum the cards to tend to oblige us to shop with set stores as in effect they already have some deposit by securing you with the card - it deters us from using the competitors
1 person likes this
@ScribbledAdNauseum (104628)
• United States
30 Dec 15
You are right. Some companies here use gift cards as an incentive to shop with them. I do not know if they still do this, but walmart's here offer 2 cents off a gallon of gasoline if you use a walmart gift card to purchase the gas with.
1 person likes this
@ScribbledAdNauseum (104628)
• United States
30 Dec 15
@arthurchappell Straying away a little from the main subject of gift cards, I have noticed that competitors are copying each other more and more.
1 person likes this
@softbabe44 (5816)
• Vancouver, Washington
30 Dec 15
Your right it makes sense to buy and save for next year it could make things a little easier.
@ScribbledAdNauseum (104628)
• United States
30 Dec 15
I have never done it that way myself. I've always just bought starting in November.
1 person likes this
@softbabe44 (5816)
• Vancouver, Washington
1 Jan 16
@ScribbledAdNauseum Interesting ideas go a long ways.
1 person likes this
@CrossingBorders (249)
• Hidden Valley Lake, California
30 Dec 15
I thought everybody did this. I don't do it because I have no one to gift to but I would. That's not just smart, it's common sense.
1 person likes this
@ScribbledAdNauseum (104628)
• United States
30 Dec 15
I do not know whether to say you are lucky that you have no one to gift to or not. 
@GardenGerty (160642)
• United States
30 Dec 15
Definitely a possibility. Especially if you can earn fuel points with them, like we do. We actually buy gift cards to use when traveling. That helps us budget for meals on the road, unless hubby decides to raid them.
@ScribbledAdNauseum (104628)
• United States
30 Dec 15
Even a "raided" gift card is saved money, albeit temporarily.
@celticeagle (166792)
• Boise, Idaho
30 Dec 15
I feel like I sort of do just that. I get my groceries and what ever else I need at Walmart. I am on the Savings Catcher site and so each month I put my receipt number into the site and see what I have 'earned'. It adds up and I was actually able to bring my Christmas list balance down considerably by use the balance I had earned for a little over a year. Works for me!
@ScribbledAdNauseum (104628)
• United States
30 Dec 15
I don't shop at walmart very much anymore. I used to use the app though and enjoyed the benefits when I did. I think it's a great little incentive for people to shop at walmart more.
it's great you were able to save so much on Christmas shopping by using the app though.
@ScribbledAdNauseum (104628)
• United States
30 Dec 15
I hadn't thought of using the credit card to buy the gift card with. Of course not all credit cards have the same reward program. :(
@ScribbledAdNauseum (104628)
• United States
30 Dec 15
I know someone who worked for walmart and told me when the best time of the year is to buy computers. I've seen a list somewhere on the internet telling when the best time of the year it is to buy other products as well. This would come in handy to save even more on the Holiday shop.
@JESSY3236 (19912)
• United States
30 Dec 15
I like that idea as long as the gift card don't expire.
@ScribbledAdNauseum (104628)
• United States
30 Dec 15
Yes that's one of the worries, that and them just decreasing in value as some companies do.
@Elizaby (6902)
• Pensacola, Florida
30 Dec 15
Most Credit Unions and banks have a type of Christmas club that would be better than gift cards as many pay interest on what you put in and as with mine on a certain date before the holiday transfer thise funds into your checking account.
@ScribbledAdNauseum (104628)
• United States
30 Dec 15
I used to have an account with a credit union, they do tend to have better account options with better interest. I am not sure that mine had a Christmas Club type thing, but I wouldn't doubt it either.
@ScribbledAdNauseum (104628)
• United States
30 Dec 15
I have two different savings accounts. One autodrafts a dollar everytime I use my debit card, the other autodrafts $25.00 twice a month on Friday. The one that autodrafts $25.00 is my emergency savings, and I try not to touch it.
I don't have many to shop for, but I may rethink my buying strategy.
1 person likes this
