Unofficial January holiday encourages shoppers to spend gift cards

COLUMBUS, Ohio (WCMH) – Gift cards make great stocking stuffers, as long as you don't stuff them in a drawer and forget about them after the holidays!

According to the National Retail Federation, Americans spend nearly $30 billion on gift cards every holiday season. Most are redeemed and used within 6 months, but many cards -- tens of billions of dollars' worth -- are forgotten or otherwise unused.

With that in mind, retailers and restaurants teamed up to create National Use Your Gift Card Day. The unofficial holiday is observed on the third Saturday of every January. It's meant to inspire shoppers and diners to take stock of the gift cards they got over the holidays, and make the most of each one before they're forgotten for good.

Those with gift cards stashed away should locate them; even cards with small balances. Then, check for deals to maximize the purchase. In most cases, gift cards work just like cash and can be used with coupons, but make sure to be aware of any exceptions.

When making plans to use gift cards, also plan to spend more than the amount on it. That eliminates a small remaining balance. Those who got a gift card to a restaurant they don't enjoy or a retailer that's not for them should see if it has a companion location, check to see if the retailer will cash it out, or donate the card to an accepting charity. For example, organizations like St. Jude Children's Research Hospital make it easy to give.

It's also important to remember that using a gift card sooner rather than later lowers the chances of gift card fraud.