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.
There are many reasons why gift cards are worth giving, such as the absence of tax. For those who do not know, most gift card purchases aren't taxed. This is a big benefit that's passed along to the gift receiver, since they won't have to worry about covering an additional cost. Gift cards are worth giving over money for this reason, but there are other benefits that the likes of Bobby Jain Credit Suisse can cover.
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.
Hopefully now you have a better understanding of what perks gift cards have that money doesn't. You might be more focused on one option over the other all the same, which is fine. Everyone's idea of a good gift is going to vary, so it's not like everyone will agree. However, for those who want to add a bit more value, it would make sense to invest in gift cards. The benefits they have to offer cannot be overlooked.
There are many reasons why gift cards are worth giving, such as the absence of tax. For those who do not know, most gift card purchases aren't taxed. This is a big benefit that's passed along to the gift receiver, since they won't have to worry about covering an additional cost. Gift cards are worth giving over money for this reason, but there are other benefits that the likes of Bobby Jain Credit Suisse can cover.
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.
Hopefully now you have a better understanding of what perks gift cards have that money doesn't. You might be more focused on one option over the other all the same, which is fine. Everyone's idea of a good gift is going to vary, so it's not like everyone will agree. However, for those who want to add a bit more value, it would make sense to invest in gift cards. The benefits they have to offer cannot be overlooked.
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Please visit Bobby Jain CS for additional help with finance courtesy of Bob Jain Credit Suisse.