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With a souring economy, Minnesotans are looking for alternatives to help them budget and save money, including gift cards.
In the season of giving, more people are buying the cards for themselves as a way to keep a close eye on their personal finances.
"Gift card usage is becoming more than just giving gift cards as gifts," said Mike Moroz.
Moroz is the president of Archway, a Rogers-based company that produces gifts cards for companies across the country.
He said that they would produce more than double the amount of gift cards they did last year, 450 million, because more are using them as a budgeting tool.
"Branded gift cards like Visa, MasterCard, Discover, American Express can be used for travel purposes so people can stay on budget," explained Moroz.
While others use the cards as an educational lesson.
"People are using them with their children to teach them, especially in these tough economic times, about budgeting," Moroz said.
The boom in gift cards means good business for Archway—in the last few months, the company hired 125 full-time positions along with 100 temporary workers.
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