Gift cards are one of the most requested gifts, but how much of the value is never used?

Answer: The average unused amount is $187 per person, for a total of $23 billion.

Questions:

• Why do you think that the balance on unused gift cards is so high?
• What strategies can a consumer use to make sure that they don't lose track of their gift cards?
• Although gift cards are often asked for, would knowing that many people don’t use gift cards impact your decision to give gift cards as presents?

Here are the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (CBS):

"After clothing, gift cards will be the most popular present this holiday season. Nearly half of Americans plan to give them, according to the National Retail Federation.

But many will remain unspent. Gift cards get lost or forgotten, or recipients hang on to them for a special occasion. In a July survey, the consumer finance company Bankrate found that 47% of U.S. adults had at least one unspent gift card or voucher with an average value of $187. That's a total of $23 billion."

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About the Author

Ryan Wood

Ryan is the Partnerships and Adoption Manager for Next Gen Personal Finance’s midwest region. He brings his experience as a former teacher, curriculum designer, and sales and marketing professional to state organizations and school districts in supporting the implementation of their personal financial education efforts. He graduated from the University of Wisconsin-Green Bay and earned his teaching credential from Saint Mary’s University in Winona, Minnesota. He proudly taught at two rural high schools in Wisconsin before transitioning to curriculum design at NGPF, and is now excited to be on the front lines in delivering the best possible financial education in the midwest. He and his wife have three beautiful daughters, each of which inspire him to share the impact of being sound financial stewards both at home and as lifelong learners.

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