Unwrapping the Mystery: The Fate of Unused Gift Cards Each Year
Gift cards are great gifts until you forget that you have them. According to the National Retail Federation, Americans are projected to spend nearly $30 billion on gift cards this…

Gift cards are great gifts until you forget that you have them. According to the National Retail Federation, Americans are projected to spend nearly $30 billion on gift cards this holiday season, with restaurant gift cards leading at one-third of total sales.
While many gift cards will be redeemed, tracking by Paytronix, which focuses on restaurant gift card sales, indicates that approximately 70% of gift cards are use within six months. However, tens of billions of dollars often go unused, introducing complexities like expiration dates and inactivity fees that vary by state.
After clothing, gift cards are expected to be the second most popular holiday present, with almost half of Americans planning to give them, per the National Retail Federation. A July survey by Bankrate found that 47% of U.S. adults had at least one unused gift card, totaling $23 billion.
Some gift cards may have expiration dates.
Federal law protects gift cards from expiring for five years, with some states extending this further. For instance, cards purchased after Dec. 10, 2022 in New York can't expire for nine years. Differing state laws have prompted many stores to abandon expiration dates altogether, per Bankrate.
Certain cards, especially generic cash cards like Visa or MasterCard, may incur inactivity fees after a year, diminishing their value. Inflation and the closure of a retail store can also render a gift card worthless. For those with unwanted gift cards, selling them on platforms like CardCash or Raise is an option, though at a discounted rate of 70 to 80 cents per dollar on certain resale websites.
When consumers purchase gift cards, retailers gain immediate access to the funds, which also introduces a liability. Retailers must anticipate the possibility of the gift card being redeemed. Annually, major companies calculate "breakage," representing the amount of gift card liability expected to go unredeemed based on historical patterns. Restaurant Business reported that Starbucks had $212 million in revenue from breakage in 2022.
Unclaimed funds from gift cards.
In at least 19 states where many major companies are incorporated, retailers must collaborate with a state's unclaimed property programs. These programs facilitate the return of money from unused gift cards to consumers. Unclaimed funds not recovered by individuals are directed toward public service initiatives.
Across all 50 states and the District of Columbia, unclaimed property programs are in place. The MissingMoney.com website, jointly managed by state unclaimed property offices, allows consumers to search for any unclaimed property, including cash from gift cards, by name.
'Tis the season when many of us craft our New Year's resolutions, including aspirations such as adopting healthier habits, reducing social media consumption, abstaining from alcohol, and embracing more home-cooked meals. While these goals are admirable, the recurring nature of such resolutions and the common struggle to stick to them is a familiar tale. Whether one opts for one resolution or a collection of them, why not inject a dose of originality by steering clear of clichés?
Why do some people have New Year's resolutions?
The advent of the New Year presents a blank canvas. It's an opportunity to rectify past missteps. New Year's resolutions embody the optimism that the upcoming year will be brighter, symbolizing a departure from the past. Dennis Buttimer, M.Ed., CEAP, RYT, a facilitator at Thomas F. Chapman Family Cancer Wellness at Piedmont, shared his take on the motivation behind making these resolutions. He stated, "I think most people desire a second chance to enhance the quality of their lives," as shared on Piedmont.org. He mentioned that we are employing a concept known as "self-efficacy." This concept entails that, by setting a goal and actively pursuing it, we gain a sense of control over the events unfolding in our lives.
How some say New Year's resolutions started.
While the tradition of formulating New Year's resolutions has been around for quite some time, it has evolved. According to the History Channel, the ancient Babylonians, credited with pioneering this practice some 4,000 years ago, observed a different commencement of the year in mid-March, coinciding with the planting of crops. Their 12-day religious festival, Akitu, involved the coronation of a new king or the reaffirmation of loyalty to the reigning one. Interestingly, the Babylonians made pledges to the gods, promising to settle debts and return borrowed items. Fulfilling these commitments was believed to garner favor from the pagan deities for the ensuing year.
Back to the present day: if you want to embrace the tradition of New Year's Resolutions but want to steer clear of the usual ones that people typically lean towards, check out our compilation of non-cliché New Year's resolutions below.
Monthly Foodie Fun
Spice up your palate by trying a new food each month. Whether it's exotic fruits, international cuisines, or local foods. This resolution will take your taste buds on an adventure.

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Gratitude in Writing
Sending handwritten letters to say thank you is a great way to add a personal touch to your New Year. It's a chance to swap out emails and texts and give someone something tangible. A tangible note carries a special warmth that words on a screen can't replicate.

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Digital Detox Night
Unplug and unwind by turning off your phone for one night every week. Enjoy some screen-free time and soak in the real world. It's a resolution you can treat like a mini digital vacation.

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Silent Travels
Travel somewhere special and savor the experience without the pressure to post. Take a trip without turning it into a social media spectacle. Keep it on the down-low, soak in the adventure, and let your experiences be yours alone. No hashtags needed.

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Celebrate Yourself
Instead of fixating on future goals, try crafting a reverse bucket list. Jot down and cheer for all the quirky and unexpected things you've already accomplished. It's like a highlight reel of your incredible moments.

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