The secret money 47% of Americans have

Plus: Financial regrets and revenge spending [  Advertiser disclosure]( [View in browser  ]( [Bankrate®]( We've all had something we've been avoiding -- and for some, it may be those leftover gift cards tucked in your desk. As Americans look to make their money count, more say they're putting their unused gift cards to use. Learn about how Americans are making their wallets stretch in this week's edition of the Bankrate Brief. 47% of Americans have at least one unused gift card The hidden cash lurking in your wallet [alt goes here]( The holidays may be long past, but you may have forgotten about the gift that keeps on giving -- gift cards. Nearly half (47 percent) of Americans [surveyed by Bankrate]( have a gift card, voucher or store credit they haven't used yet. And with inflation, more Americans are putting in an effort to use that cash. The big numbers: • Gift cards can pile up quickly. The average American's stash of unused cards totals $187 per person, [totaling $23 billion](. • Americans’ unused gift cards have [risen in value]( over the last two years. In July 2022, the average value of unused gift cards was $175 per person and $116 per person in 2021. • Americans with higher incomes tend to have [more unused gift cards](. Almost two-thirds (62 percent) of the highest-income households ($100,000 a year or more) report they have at least one unused gift card, with an average value of $238 per person. The big impact: While some are fine with letting their gift cards collect dust, around two in five (39 percent) of Americans said they've been making more of an effort to [use their gift cards]( over the past year due to economic concerns such as a recession. Where do we go from here? If you have old gift cards in your wallet or your purse, it's worth your time to [make use of them](. Even if you're not a fan of the brand, you can still re-gift a card, use the balance to buy something for someone else or sell it for cash. Ted's take “Putting your unused gift cards to work is a good inflation-busting strategy. This is real money, so you might as well use it. I feel the same way about unused credit card rewards, frequent flyer miles and hotel points.” [Ted Rossman, Bankrate Senior Industry Analyst]( Return of the summer revenge spend Swifties fuel a travel and hotel revenue rebound [alt goes here]( Taylor Swift’s Eras Tour -- along with other summer concerts and experiences -- are fuelling Americans' continued revenge-spend summer. As pent-up demand from COVID-19 pauses continues, hotels, airlines and cities are seeing an influx of spenders. Learn more about how revenge spenders are [keeping this summer sizzling](. [Read article]( Quiz: A financial advisor can help get your money and portfolio in order, and it's key to know you're getting the best service. Which of the following is a red flag from a financial advisor? A.   They don't have a master’s degree in finance B.   They charge high fees C.   They push you toward certain investments D.   B and C Check out the answer at the end of this week’s edition! Meet the 'sandwich generation' The Gen Xers caught in a financial bind [alt goes here]( Caught between caring for their elderly parents and their children, Gen Xers are feeling the mental -- and the financial -- crunch. As they face burnout, emptying savings accounts and mounting debt, Gen Xers are feeling less financially secure than ever. [Here's how they're coping](. [Read article]( The Summer buzz When writer Ariana Arghandewal visited NYC, she came prepared. Check out how the six credit cards she took on her trip [fueled her fun]( -- and her peace of mind. While revenge spending may be in, travel woes are far from out. Over three-fourths of travelers reported delays, poor service and more on the road. Learn how the travel industry is struggling to [keep up with demand](. Juggling over 200 careers is no sweat for America's most famous doll. But have you ever wondered what Barbie keeps in her wallet? Check out Bankrate's picks for what credit cards [Barbie would have](. The financial regret of 74% of Americans Retirement, debt and savings woes fuel financial remorse [alt goes here]( Uneasy about your retirement savings, emergency fund or debt level? You're not alone. Nearly three in four (74 percent) of Americans are feeling financial regret, with a cumulative 39 percent expressing remorse over not saving more -- or early enough. Learn what you can do to [avoid money regret here](. [Read article]( Quiz answer: D. A financial advisor doesn't need a master’s degree to do their job well -- but they do need to charge a fair fee (either 1 percent of your assets under management or $1,000 to $5,000 annually) and guide you toward financially sound investments – not ones that will give them the highest commission. Check out the five other financial advisor red flags you [need to know here](. Like what you see? We love our readers – and their feedback. [Fill out our survey]( and let us know what topics and features you want to see more of! Getty Image illustrations are used for editorial purposes in this newsletter. Below is credit to contributors: • frantic00/Getty Images • Flashpop/Getty Images • DNY59/Getty Images • damircudic/Getty Images [fb]( [insta]( [in]( [tw]( [yt]( [tiktok]( © 2023 Bankrate, LLC. All Rights Reserved. Bankrate, LLC • 16 45 Palm Beach Lakes Boul evard • Su ite 12 00 • West Palm Beach, FL 33401 You received this update at {EMAIL} because you have a Bankrate account. 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