There are many categories of things that most people are completely baffled about how to Simplify. Here’s another one: gift cards and gift certificates.

These would-be-cash cards float around people’s drawers, home offices, wallets; they get crammed into card holders, and that abandoned in a handbag, now retired in favor of a newer, fancier bag. They stack up and are gathered up and then recede into the abyss of household storage areas once again.

And everyone, I mean everyone–at some point–raises their hands full of cards and papers of various sizes, looks at me all exasperated and asks: “what do I do with these?!?”

You too, huh?

Okay, here come the tips.

1. Use them as soon as you get them.

The best way to avoid losing gift cards is to use them right away. (I know; me– encouraging impulsive spending!)

Most of the time people like to collect these, to save them up so that if one day they happen to need to buy a TV at Best Buy, then, poof! Here’s $50 towards it. The trouble with that strategy is that in most cases, the chances that you’re able to keep track of the gift card until the time at which you go to make that large purchase are slim.

Look at it this way: before you had zero monies designated for a given retailer. Now you have however much your gift card is worth. What you may end up needing or spending there in the future is unknown and not a guarantee. So spend what you know and get what you need with the money you’ve been given now.

If it’s a gift certificate for a spa day, book that baby today. If it’s a pair of free movie tickets, scan the previews and plan to hit the cinema this weekend. If it’s a gift certificate to Best Buy, go get yourself those new headphones you’ve been needing.

After all, when people give you gift cards, they want you to use them to select for yourself whatever you want at a given price range. Not hold onto the plastic card or piece of paper for as long as it takes to lose it.

If you’re going to hold on to them and plan to use them at a later date, the least you can do is keep them together in one spot.

2. Corral them in a thingy.

Keep gift cards and certificates together by using a receipt accordion file, a business card organizer, or even a zippered pouch!

You can organize your gift cards and certificates by the month/year in which they’re set to expire (if they do), or you divvy your gift cards up so that you’ll get to use one or two each month. You can also use an alphabetical sorting system; organizing by the name of the retailer, or a categorical one; organizing by type of establishment, such as “restaurants, professional services, etc.”

3. Trade them in for The Monies.

I’m not sure why I waited until #3 to include this option, since it was the real catalyst for this whole post, but Coinstar now offers a gift card exchange program, which I think sounds pretty fantastic.

If it’s a gift card to somewhere you’ll just never use, rather than losing it or having it end up as drawer clutter, exchange it for cash at a Coinstar Exchange machine.

Obviously not all gift cards will be exchangeable, but I have to say I was fairly impressed by the number of stores listed on Coinstar’s site. And I have to assume that if the venture is successful, more retailers will be added soon.

4. Get Listy.

Keep a physical list of the gift cards and certificates you have, as well as their expiry dates. Hint: this only works if you also keep the list handy and remember to update it and refer to it.

5. Digitize those suckers.

Apps like Clutch allow you to store gift card and store loyalty card info virtually.

6. The term re-gift has never been more fitting.

There are some very specific gift certificates that you’re just never going to use, like that two-night stay at the Grand Casino, excluding Tuesdays and Sundays. Rather than throwing it away now or throwing it away years later, why not try to find someone to pass that sucker along to? An employee, a friend–get to offering and prepare to make someone’s day.

And if you want to get even more charitable about it, check out organizations like Changefindr, which allows you to donate your partially used gift cards to the cause of your choosing.

Image credits: Museumpiece, Mochithings x2, photography by Sarah Kehoe for Health