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Everybody Loves Your Money
Everybody Loves Your Money
Business
Evan Morgan

THE TRUTH ABOUT: The strange reason some people refuse to spend gift cards - The Untold Story

Gift Cards
Unused gift cards can represent hundreds of dollars in forgotten spending power. Research suggests that people sometimes hesitate to use them because an untouched balance feels more valuable. (Wikimedia Commons).

You probably have a gift card tucked inside a drawer, wallet, or forgotten birthday card somewhere in your home. Maybe you’ve been saving it for something special, even though you can’t remember what that special purchase was supposed to be.

Surprisingly, gift card psychology helps explain why people sometimes struggle to spend money that’s already theirs. The strange part is that keeping a gift card untouched can feel more rewarding than actually using it, even when that decision eventually costs you money.

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