If you’re one of the millions of Americans who’s received a gift card from Santa this year, it may be prudent to exercise patience when it comes to cashing in on the booty.

It’s true that there are a lot of good deals to be had at retailers. For the most part, retailers are trying to move stock that is holiday-related, is seasonal, or merchandise of which they have too much stock because it didn’t sell as well as expected during the holidays.

There are also a lot of BAD DEALS out there. Many retailers have been known to substantially raiser their prices right after the holidays in hopes that eager gift-card recipients will buy without regard to pricing. Even online retailers are guilty of this, such as with the example where one popular online retailer increased the price of the Sonicare Essence toothbrush from $34 to a $59 right after Christmas.

If you decide to collect your gift-card loot close on the heels of the holidays, just be sure to educate yourself, first. Check online before you go shopping to see the current price range for the item you have your heart set on. If another store is selling your item for less than the store your gift card is for, you may want to hold on to that gift card until your retailer brings the item back down to a reasonable level.

Maybe you don’t mind paying higher prices if it means you can get that gift in your hands faster. Or maybe you plan to purchase only clearance or after-holiday sale items to make sure you get your money’s worth. Whatever the case, just be aware of your options, and buy WITHOUT the wool over your eyes.