Can buying
Gift Cards be a
good idea? No and Yes.
No:
1. It is estimated that
$2 billion in gift cards will go
unused this year! I admit that I am an offender. I am an avid couponer and have a
very good system of storing coupons, and gift cards so they
get used. Yet, I
still have one for a resturant,
over an hour away that
isn't kid friendly. I doubt it will
ever get used. (I
appreciate the thought and effort, it just isn't
practical for us.)
2. The problem is
cards for places the reciever
doesn't frequent. Just because
you love a restaurant and
think your friend will too, they might just
never make it there to use it. Instead, if you
really want them to experience it,
make a date and
take them there. (That way you
both win!) If for
some reason you
need to give a
gift card, give it to a store/restaurant you
know they
love going too.
3. They are just as
impersonal as cash. Go ahead and just give the cash, then
they can spend it how
they want.
4. You will end up
spending more this way. You could
make, or find a
more perfect gift for
lots less than you would probably
spend on a gift card.
Yes:
1. The receiver has
told you they
love that store, or have been eyeing something, and you
know your gift card will allow them to finally get it.
2. You are buying the card for
yourself. What? If you live on a strict budget, you already know how much you
typically will spend at any store. So you can take
advantage of Christmas promotions.
3. Using a gift card for stores you
already shop can give
you rewards. My family loves *Pizza Ranch, they are offering
$5 free when you purchase a $50 gift card. Additionally the $$ you spend on the gift card earns you Ranch Rewards resulting in
another $5 off your next purchase. In this scenario, we got $60 of
buying power for $50. It was also a fundraiser night for a
favorite charity, and they earned 10% of the night's proceeds!
3. Using a gift card for stores you
already shop can give
charities rewards.
My church has a gift card buying program called Scrip Cards. The church receives a
portion of the proceeds, and they are available every week for
commonly shopped stores and restaurants.
Four cons and
three pros, if your still not sure, than
don't do it. Why throw your money into that $2 billion?
If you
receive a gift card, use it
ASAP, the longer you hold on to it, the more likely you will
forget about it. Better yet,
invite the person who gave it to you, time
together is my
favorite gift of all.
*I am not being compensated to plug Pizza Ranch, we just like eating there and this gift card scenario was really good.