Most of us have at least a few old, unwanted gift cards stashed away in a drawer. Leaving them unused is like throwing away money. Instead, turn them into cash by selling them online. Many of the sites that buy gift cards also sell those cards at a discounted price. This is a great way to save money on gift cards for yourself or others.

Meghan Fox, a savings expert, suggests users maximise their savings by buying discounted gift cards and then using those cards at a site that pays cash back. Check out sites such as Cashrewards and PricePal which offer cashback rewards for purchases at a variety of retailers and websites.

“Follow financially savvy young professionals instead of, say, travellers,” says Brian Walsh, a certified financial planner at SoFi. “They will inspire you to stick to your goals rather than keeping up with the Joneses.”

Go through your closet, apartment, garage or storage unit, and sell things you no longer wear or need on Facebook Marketplace. “I have sold several thousand dollars worth of stuff to declutter our house!” says Deb Liu, Vice President of Marketplace and Commerce at Facebook. “I [also] get the kids involved. We’ve sold some of their games and toys. It’s a win-win: They think they’re earning money for even more toys, and I get to teach them about math and budgeting!”

Lindsey Nickel, a wedding planner at Lovely Day Events, suggests newlyweds help recoup some of their wedding expenses by selling items they used at their event. “These items are very wedding-specific and probably won’t be used again,” she says. “So instead of taking up storage, I tell them to sell them on sites like Facebook Marketplace and help out the next bride instead. Ask your professional photographer for the big day to take high-quality pics of the items.”