Question

How do you account for gift cards? So we had a giftcard to Costco for $50 and I spent $53. How would you track that? I’m assuming I need to know I spent a total of $53 even if only $3 came out of my envelopes. Same for target. received a $20 gift card that I’ll be using for formula. Should I add it like a credit it into my account? ‍♀️

Answer 1

I personally don’t track my gift cards — I only track the amount that’s actually coming out of my account

Comments

If I have a gift card for something and pay $0 I don’t track that spending - makes me feel less guilty about using gift cards

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That makes sense @ Jaime Hyde

Answer 2

I would treat it just like you do your cash, just put a side note of gift card

Answer 3

Following and what if ya get the gift card for free with points

Answer 4

Add the gift card to your budget as income so you can account for the expense.  

Answer 5

I count gift cards as free money and don't count it at all.  

Comments

@lashkar i do the same. It's a way to build up my excess

Answer 6

I write it in as income

Answer 7

I add the gift card amount to income, then post the entire amount spent.  

Answer 8

I wouldn’t. I would say I only spent $3 at Costco. It’s extra/gifts to me, not something I would count. OR you could take out $50 from your envelope and put it elsewhere and claim the gift card as cash.