If you haven't spent it already, that gift card you got over the holidays is probably burning a hole in your pocket. If you've waited to spend it, Dealnews.com suggests you wait a little longer depending on what you want to buy. The consumer website said it can really pay off.

For example, if your looking for clothes, by late January and February you can score winter apparel for up to 80 percent off.  For instance, in late January of last year, Old Navy marked everything down sale items another 50 percent.

If you're looking for electronics, Dealnews says the best time to buy is late February. By waiting until then to buy tablets, MP3 players and more, you could save 20 to 60 percent on the outgoing models.

If you need bed sheets, comforters or other home goods or furniture, in February and March you will find a lot of these items for up to 75 percent off.

If jewelry is on your wish list, wait until late February or early March to find discounts of up to 50 percent off. Remember, the best time to buy most jewelry, in general, is after Valentine's day and before Mother's Day.

For more advice on when the get the most out of cashing in your gift card, check out the article from Dealnews.com.