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Australians have $1.4 billion in unused gift cards sitting in their wallets or inboxes, new research has found.
A Finder survey of 1039 Aussies revealed more than one in three have at least one unused card that has been given to them, and almost a quarter have two or more sitting around.
The unused money is worth an average of $198 per person.
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Sarah Megginson, personal finance expert at Finder, said while gift cards are a popular choice for a present, many of them go unused – 18 per cent of Australians had lost out after a gift card expired, according to the research.
Megginson said in the digital era, gift cards or vouchers that are sent online can get buried amongst notifications and messages.
It means retailers are getting to hang onto the money without losing a product.
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"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," Megginson said.
She offered tips to ensure Aussies who were gifted vouchers at Christmas don't waste them
"Set a reminder on your phone to spend the gift card each month that includes the expiration date," she said.
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"If you have a gift card for a store that you don't like, consider selling it on an online marketplace for a slightly lesser value so it doesn't go to waste."
Gift cards bought after November 2019 must come with a minimum three-year expiry period.
