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At this time of the year invariably gift giving is on everyone’s mind and when you don’t know what to get someone the first thing you think of is gift cards.  A staggering $25 Billion (that a B) is expected to be spent on gift cards this year by the American consumer.  The problem with this, particularly in this economy  is that there are no guarantees. 

What happens to your gift card when a retailer like Linens ‘N Things goes bankrupt?  You become a creditor and get to get in the line with everyone else for payment.   There are no safeguards or government regulations in place that protect the value of your card.  Nearly $100 million was lost last year by unsuspecting card holders.

I say why risk it… If you don’t know what to get someone buy them a nice card at your local Hallmark store and put cash into it.  Cash will always be spendable.  You may not get as much as you used to with it but you will always be able to spend it.

For those of you still hanging on to gift cards (it is estimated that 25% of gift cards purchased are still not used)… SPEND THEM!!!!!  Help the economy out and in the long run make sure that you won’t end up with a useless piece of plastic in your wallet.  (I have heard they make good ice scrapers for your windows)