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Gift Cards - Spreading Holiday Joy Or Not Worth It?
Holiday season is upon us and people are preparing to buy friends, family, and co-workers presents. Even though black Friday and cyber Monday have passed, that doesn’t mean that the holiday shopping spree is over. Stores are going to have deals throughout the rest of the month to try to boost 4th quarter sales. A lot of people are going to disregard the sales and head in other directions when it comes to buying presents. One of the directions people will lean to is buying gift cards. They have been the trend for some time now, but are they worth it?
Advantages of Gift Cards:
1. Easy to get
2. Easy to give
3. Avoid giving an unwanted gift to someone
Disadvantages of Gift Cards:
1. Impersonal
2. Person may end up spending more money with gift card
3. Expires
Here is a list of stores that are going through changes this year. Make sure when buying gift cards this season you read and understand the terms of agreements before you give the card to someone. It would not be in the holiday spirit to give someone a card that is going to expire in a week.
What are your thoughts on gift cards?
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on Friday, December 5th, 2008 at 9:22 pm and is filed under Personal Finance.
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Craig Says:
December 10th, 2008 at 2:41 pm
I agree. I try to do the same to limit the waste of time on their part and because it’s easier for me in the end.
Rebecca Says:
December 14th, 2008 at 8:55 pm
I am not a fan of giving gift cards (receiving them is a little better) because I prefer giving extremely thoughtful, personal gifts. I also don’t want a friend / relative to judge their worth based upon a gift’s price tag.
Rebecca’s last blog post..Making a Budget
Craig Says:
December 15th, 2008 at 9:10 pm
A lot of people share the same views as you Rebecca. Many people like to go out of their way to give a more personable item.
I don’t think a gift card is judged on that level. regardless of type of gift, people shouldn’t judge either way, although it happens of course. I as well like to receive them and usually ask for a gift card. In that case if your friend or family member asks, I don’t think that would be considered impersonal.
Migal Says:
December 19th, 2008 at 6:54 pm
Gift cards are a joke. So lets say you get a gift card. You go to the store to use it, what are the chances that you spend the exact amount on the card, no more, no less? Ziltch. So what happens then? You spend your own money to cover the difference. Or your left with a little money on the card, which you don’t use, or that you use for your next trip to the store. Either way, the store is the winner. If you spend more money then whats on the card, they win. If you spend less money then whats on the card, they win. If the card expires or you never use it, they win. And you wonder why stores pimp gift cards. They are VERY profitable for them.
Craig Says:
December 22nd, 2008 at 2:58 pm
All good points Migal. This is why a lot of people don’t like receiving gift cards, they feel they have to get something from the place, and then usually have to spend more just to purchase an item.
If you go under the amount on the card, most stores give you the exact change back. All my experiences with gift cards I have received the change back, in that case the person is the winner. Could you provide some examples for everyone where that is not the case?
The Almost Millionaire Says:
December 31st, 2008 at 9:36 pm
You have got to love gift cards, they are the key to happy gift giving and receiving!
The Almost Millionaire’s last blog post..Is GM a good investment?
Craig Says:
January 2nd, 2009 at 2:31 pm
I agree, I asked for gift cards myself, that way it is easier for the person, and I know exactly what I am getting and what to use it on.
Kids Studio Store Says:
January 12th, 2009 at 11:16 am
I like to give gifts but I am not in favor of cards. I like to give and even to take something useful. I like to give something like books, clothes or something that the other person can use that.
Craig Says:
January 12th, 2009 at 5:54 pm
A lot of people like giving an actual item to someone for the personal aspect to giving a gift, good point.

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Ryan Graves Says:
December 10th, 2008 at 3:22 am
I’m a huge fan of gift cards! If I could get into my families heads that I only want gift cards I’d be a happy man.
Great post.
Ryan Graves’s last blog post..Social Networking vs. Social Noise-making