Gift cards: the currency of letting people treat themselves, guilt-free.

We’ve all received a gift card at some point in our lives—even if they used to be called ‘gift certificates.’

Does anyone feel a time warp?

But what about giving gift cards? They seem like the perfect present and transform ‘What the heck do I get them?’ into ‘I’m the best gift-giver ever!’

So, what’s the most popular card to give? Restaurant cards top the list right now when it comes to buying gift cards, but you can get a gift card for almost anything these days.

Here are a few things to keep in mind if you’re considering the gift of plastic:

  • Many cards go unused, leading to waste. This can happen for many reasons, such as a forgotten card, the store is not a favorite, or maybe it’s lost or stolen.
  • Gift cards don’t gain interest. People often save gift cards for special occasions or tight-budget moments. Meanwhile, the money sits unspent, and store prices keep rising. That $50 card might have less purchasing power down the road.
  • Retailers can go bankrupt. It’s not uncommon, especially in a lagging economy. In 2023 alone, Bed, Bath & Beyond, Rite Aid, and Party City filed Chapter 11, which means those gift cards are now useless.

The big takeaway? Gift cards are a quick, fun way to gift without much thought or effort, but they’re not without pitfalls.

Consider giving cash.

While it might seem less personal, it’s no different than taking an extra step and buying a gift card. People might not admit it, but they love cash.

Who doesn’t like opening a birthday card and finding a nice fat $50?!

Picking thoughtful gifts is like planning your finances—it pays off in the long run.

Looking ahead ensures a secure and fulfilling future, just like the joy of nailing the perfect gift. Maybe it’s time to nail your retirement goals. Let’s talk about that! Book a 15-minute consultation and chat about your plan (where you are now, and where you want to be in the future), it’s easy – just click the buttons below.