Gifts With Strings Attached
Can't decide what to get someone on your Christmas gift list? Gift cards have become a popular choice. But Consumer Reports says there's a lot to be wary of. For example, if you lose a card you'll either have to pay a fee to replace it or you're out of luck. Maintenance fees are common among bank-issued cards. And some cards carry expiration dates, although more and more states are outlawing that practice. Here's a list of states with gift card-related laws.
Matt's View
Instead of giving a gift card, how about giving cash? Gift card marketers want us to believe that giving cash is tacky. At least one writer agrees, calling gift cards "a graceful proxy for cash." But cash is accepted everywhere; it never expires; and here's an added bonus: it's less likely to be spent. Study after study confirms that people spend more when using plastic. So, give the gift of cash and some of that money might just end up in a savings account. There's nothing tacky about that.
This article filed in: Gifts , Holidays , Marketing , Spending
Managing Money by The Book
- "I delight in your decrees; I will not neglect your word." - Psalm 119:16
Recommended Resources
- Money Strategies for Tough Times
- Are you feeling the effects of today's economy? Who isn't? "Money Strategies for Tough Times" can help you successfully navigate the tough times, get to a better place with your finances, and stay there. In this new book you'll find...…Read the rest
View All »