Gift Cards Help Take a Bite Out of Lunch

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Let's face it we live in a time of crammed schedules, shortcuts on everyday moments to make life easier, and wrapped presents have gone the wayside with Gift Cards taking the lead. Gift Cards are convenient, they are easy to customize to the recipient, and they make carrying cash unnecessarily.

From my seven-year-old to my 87-year-old grandma, gift cards are requested.

They replace the actual buying of a gift and require little time and energy on my part to make them happy!

Gift Card Budgeting Tips

Consider the average price of a pair of basketball shoes?

$88 in 2012 or the average cost of ballet pointe shoes $60-100 Gift Cards are convenient.

They can also play a role in teaching children about money. Kids today have a hard time understanding where the money comes from.

I overheard a child just the other day in a department store saying, "Don't worry if you don't have enough money, Mom, we can go to the grocery store and get more from the checkout."

This is a common theme and why many kids don't understand budgets even exist.

There's an age-old concept for budgeting called "Envelope Budgeting."

I remember watching my aunts manage their money this way.

The idea is simple. divide up the cash you have on hand into envelopes with the expense category on it, and you only get to spend what is in the envelope.

When the envelope is empty, you can't spend any more in that category, and if there is some leftover at the end of the month, you either add it to a savings account or roll it over for use the following month.

When teaching kids the value of money, gift cards can play a key role.

Let's say your child needs a new pair of sneakers for basketball?

Together you can talk about how much he will need, the style he wants, and help him make these decisions.

Then give him a gift card to Foot Locker for an agreed-upon amount and let him make his own decision.

 Gift Cards Are Modern Allowance

Cash seems to burn a hole in my kiddos' pockets.

One way to avoid this and still teach them to weigh the value of what they buy is to give them their allowance monthly in the form of a gift card.

They only spend what they have, and they learn to manage the money.

Gift Cards Help Stay On Budget

My weakness is coffee. I"m not alone, according to the Consumerist the average worker spends $1,092 annually on coffee.

It's easy to put a budget on paper, and another thing entirely to stick to it.

Consider buying gift cards each month for the stores and restaurants you have budgeted for so you won't spend more than what you have allotted.

You'll be able to forecast if you'll have enough cash for the rest of the month, and the money won't be spent unaccounted for--keeping you on task.

Gift Cards allow you to control your impulse spending. I've done it so many times when I'm out, saw something that looked too irresistible at the store, but was something I didn't particularly need.

Gift Cards allow me to shop the stores I love and force me to think ahead about those normal impulse buys I fall victim to at times.

Gift Cards Take a Bite Out of Lunch!

Consider the average worker spends $1,924 per year buying lunch, from this article on Consumerist.com

According to a 2013 Zagat Survey, people nationwide ate out an average of 3.2 meals a week.

Many Americans choose to eat out at lunch instead of eating at the office.

Buy gift cards for your favorite restaurants within your budgeted allowance for dining out.

Eat out as much as you want on your gift cards, but when the gift cards run out, you bring your lunch for the rest of the month.

You'll find it makes those dining out experiences more special, and you won't eat into your budget.

 Gift Cards Keep Up with Teen Budgets

The average amount families spent on the prom in 2012 was $1,139., according to CNN Money.

Help her earn money in advance and save it on gift cards to the store of her dreams. 

Many parents choose to split the bill.

The teen earns half and the parents chip in.

 Gift Cards Help With A New Baby!

New baby on the way?

The cost of raising your first child can be staggering to a young family, racking up as much as $12,000 in the first year alone according to Parenting.com.

Grandparents can help by sending gift cards for necessary purchases and letting mom and dad prioritize their spending.

Gift Cards Can Be Bought on the Cheap!

Many gift card vendors offer sales on gift cards at greatly reduced prices.

Watch sites like Kroger and Safeway, which offer fuel points as well when you buy gift cards in-store.

The Bottom Line on Gift Cards

Bottom line? Gift cards help us stay focused on what we need to buy.

If we only have a gift card handy–and not cash or credit cards–it's harder to go astray and spend on things off-budget.

It helps us to say "no" to ourselves when we can see the balance you have to work with, and then there is NO MORE.

Using gift cards to teach kids how to manage their money gets them off to a great start!

 Gift Cards Balance All in One Place

While you're at it, consolidate those gift cards in one easy-to-manage location with GoWallet.

GoWallet allows you to organize your gift cards online or on your mobile device, and you don't have to carry all those cards around with you.

At one quick glance, you can see how much the balance is on your cards, even buy more cards right through the app.

Registration is free; why not give it a try to give gift card budgeting a spin?

Register for GoWallet today.

To keep you on task and help stretch the budget...