Gift cards are an increasingly popular gift — with givers, recipients, and merchants. Givers like the convenience. Recipients like the freedom to buy what they want. Merchants like the fact that a significant percentage of acrds are never redeemed, meaning that the merchants get free money.

While merchants like the free money, their free money is your loss.

Take a few moments to choose a place where you'll keep your gift cards and gather up all your unused cards and put them in that place. If you aren't sure how much the cards are worth, most cards have a toll free number or website that will allow you to check. It's not a bad idea to write the amount on the card using a Sharpie.

When you go shopping or out to eat or to a movie, check your gift card stash to see if you can use one. Unless you a saving the cards for a very specific purpose with a clear use date, use the card already. There is no benefit in holdng on to it indefinitely. If it makes you feel better, replace the used card with an equivalent amount of cash. Cash can be used anywhere, so you don't have to worry about adding to a merchant's bottom line by wasting your gift.

In the last 2 weeks, I've used most of two cards I've been carrying around for months. I saved some cash and my wallet is lighter. Win-win.