Australians have $1.4 billion worth of gift cards gathering dust.
Aussies are wasting money on gift cards that go unspent, with at least one in three in possession of an unused one, new research from comparison site Finder has revealed.
Of Australians that have an unused gift card (or cards), the average amount is $198, a survey of 1,039 people found.
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One in five Aussies said they have had a gift card that expired before they got around to using it.
Finder personal finance expert Sarah Megginson said digital gift cards could easily be buried among notifications.
“Letting gift cards go to waste is not only a missed opportunity to get value for yourself — you are effectively donating millions of dollars back to retailers,” she said.
“Luckily, any gift cards purchased after November 2019 must come with a minimum three-year expiry period, but don’t delay.
“Retailers can still go out of business or move locations, leaving you holding the bag.”
Looking to make the most of your gift cards?
Know your expiry dates, set a reminder to make sure it gets used before it is too late and keep the cards somewhere useful, such as your wallet, Finder recommends.