When you're stumped on what to give someone for a special occasion, it's safe to assume that you'll fall back on cold, hard cash. It's easy to see why, since the receiver can do anything that they want with the money you give them. However, before you decide on this, you might want to consider gift cards instead. Why is this the case, you may wonder? If you consult Bob Jain on the matter, you'll become familiar with the following 3 talking points.
When it comes to the reasons to give gift cards - and the likes of Bobby Jain Credit Suisse will say the same - the absence of tax must be noted. In most scenarios, when you purchase a gift card, the purchase in question isn't taxed. As a matter of fact, this is one of the bigger benefits of these cards that money lacks. There are other talking points worth covering, though, as we will get into next.
Another perk of gift cards is that, more often than not, they are rather specific. For example, if you were to give someone a Best Buy gift card for their birthday, chances are that they will spend it on electronics. What this does, in theory, is prevent them from spending their own money on products they could cover with other means. This allows for a sense of convenience that the likes of Bob Jain CS can approve of.
Finally, gift cards can go beyond physical forms if you'd like. More and more stores are offering digital gift cards for purchase, meaning that people won't have to worry about carrying around more plastic. In order to use these digital cards, those who possess them simply have to take out their phones and have them scanned at registers. This goes back to the idea of convenience that gift cards, regardless of the forms they take, have to offer.
As you can see, gift cards yield a number of benefits that money simply doesn't have to offer. However, this doesn't mean that you should stick to one option over the other, since the idea of the better gift is entirely subjective. Some gift-givers might feel more comfortable with one over the other. With that said, if you're stumped as to which one might be received more favorably, you cannot go wrong with a gift card.
When it comes to the reasons to give gift cards - and the likes of Bobby Jain Credit Suisse will say the same - the absence of tax must be noted. In most scenarios, when you purchase a gift card, the purchase in question isn't taxed. As a matter of fact, this is one of the bigger benefits of these cards that money lacks. There are other talking points worth covering, though, as we will get into next.
Another perk of gift cards is that, more often than not, they are rather specific. For example, if you were to give someone a Best Buy gift card for their birthday, chances are that they will spend it on electronics. What this does, in theory, is prevent them from spending their own money on products they could cover with other means. This allows for a sense of convenience that the likes of Bob Jain CS can approve of.
Finally, gift cards can go beyond physical forms if you'd like. More and more stores are offering digital gift cards for purchase, meaning that people won't have to worry about carrying around more plastic. In order to use these digital cards, those who possess them simply have to take out their phones and have them scanned at registers. This goes back to the idea of convenience that gift cards, regardless of the forms they take, have to offer.
As you can see, gift cards yield a number of benefits that money simply doesn't have to offer. However, this doesn't mean that you should stick to one option over the other, since the idea of the better gift is entirely subjective. Some gift-givers might feel more comfortable with one over the other. With that said, if you're stumped as to which one might be received more favorably, you cannot go wrong with a gift card.
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