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.
There\’s also the specific nature of gift cards that should be taken into account. Let\’s say that, for the sake of argument, that you were to give someone a gift card to a local restaurant. More likely than not, they will not spend as much money on nice meals until the gift card in question is depleted. To say that this makes matters more convenient for gift receivers would be an understatement, but there\’s more to know about gift cards that Bob Jain CS can cover.
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.
Kindly consult Bobby Jain CS for additional help with finance from Bob Jain Credit Suisse.. Unique version for reprint here: Bob Jain & 3 Benefits Gift Cards Have That Money Doesn\’t.