Finding a gift for someone is nothing short of a challenge. Bob Jain and other names in finance will agree, so it would make sense to fall back on money as a gift option. However, instead of sticking with this, you might be better off with gift cards. Why is this the case, though? For those who might be curious to know what gift cards have that money doesn't, here are the 3 biggest benefits that you should be aware of.
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 reason why gift cards are worth giving is that they tend to be very specific. What this means is that they are to be spent on specific products, which actually keeps spending more organized. For example, if someone receives a credit card to Starbucks, they won't carelessly spend money on drinks for a while. Gift cards offer quite a bit of convenience, in this respect, and Bob Jain CS would be hard-pressed to disagree.
To wrap things up, gift cards can take on digital forms, in addition to the physical ones most people use now. The reason why this matters is that it adds to the aforementioned idea of convenience. Not only can these gift cards be accessed on different devices - smartphones and computers, just to name a couple of examples - but they take up less physical space as well. This is another great selling point that's worth drawing attention to.
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 reason why gift cards are worth giving is that they tend to be very specific. What this means is that they are to be spent on specific products, which actually keeps spending more organized. For example, if someone receives a credit card to Starbucks, they won't carelessly spend money on drinks for a while. Gift cards offer quite a bit of convenience, in this respect, and Bob Jain CS would be hard-pressed to disagree.
To wrap things up, gift cards can take on digital forms, in addition to the physical ones most people use now. The reason why this matters is that it adds to the aforementioned idea of convenience. Not only can these gift cards be accessed on different devices - smartphones and computers, just to name a couple of examples - but they take up less physical space as well. This is another great selling point that's worth drawing attention to.
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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