What to buy for Christmas Gifts?

Update: I have finally sat down and went thru the list to verify all these stores. I have linked the articles up to each store for you. In addition, here is a link that will go thru 33 stores and let you know the amount of stores closing, etc.

Well, probably not many Gift Cards this year.

I have always been one that "loves" gift cards if you can get them discounted. It really can be a great savings. And, with the Holidays quickly approaching, you will see many companies are offering incentives to buy their gift cards. For example, buy $100 worth of their gift cards and get a $20 free card.

But, this year, in particular, you really need to be careful when buying Gift Cards. Why? Well, many, many companies are struggling right now and could potentially close stores or go out of business. If that happens, gift cards are "lost" money to us, the consumers, if we, or the person we gave it to as a gift, doesn't use them in time.

On my nightly news tonight, they stated that with the closing of all Linens N Things, Sharper Image and Comp USA stores , they will have $1 Million....YES, you heard me...$1 Million in unused Gift Cards still out there. Oh my gosh! That is CRAZY!

If you have any of these cards....get to the store and use them! NOW!

Meanwhile, here is a list my sister-in-law, Meghan, emailed me today regarding stores that are in the process of closing or have closed thruout 2007/2008. Click on the link to read an article on any of the locations. Some you have probably seen disappear already in your area thru the year

CLOSING SOME STORES:

• Circuit City stores
• Ann Taylor
• Lane Bryant, Fashion Bug, and Catherine's
• Eddie Bauer
• GAP
• Footlocker
• Zales
• Disney
• Home Depot
• Macys
• Pacific Sunware
• Pep Boys
• Sprint/ Nextel
• JC Penney
• Ethan Allen
• K B Toys
• Dillard's

CLOSING ALL STORES:

• Wilson Leather
• Sharper Image
• Comp USA
• Movie Galley
• Linens and Things
• Whitehall
• Levitz
• Wickes Furniture

If you have additional stores to add, email me.

I will post this on my Holiday Savings webpage ( you can find the button for this in the left menu bar ) for future reference.

I do still like Gift Cards, but I plan to only buy ones that I get a discount on and am going to use quickly OR that I know the recipient will be using quickly, too. Here is a great post from Clark Howard on the subject and how they hope to protect Gift Card holders in the future.

Happy and SAFE Shopping to us all! We definitely don't want to be included in that $1 Million Dollar in lost consumer money.

Have I helped you save or make some money this year? Please show your thanks by clicking here to vote for Carrie ( Money Saving Methods )