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.
Another perk of gift cards is that, more often than not, they are rather specific. For example, if you were to give someone a Best Buy gift card for their birthday, chances are that they will spend it on electronics. What this does, in theory, is prevent them from spending their own money on products they could cover with other means. This allows for a sense of convenience that the likes of Bob Jain CS can approve of.
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.
With these talking points, it's clear as to what gift cards have to offer over money. This isn't to say that the latter is a bad gift option in its own right, since it does the job in a hurry. However, if you truly want to make yourself stand out at any occasion - it could be a birthday party, baby shower, or what have you - the extra mile should be traveled. For reasons like the ones discussed earlier, gift cards are worth investing in.
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.
Another perk of gift cards is that, more often than not, they are rather specific. For example, if you were to give someone a Best Buy gift card for their birthday, chances are that they will spend it on electronics. What this does, in theory, is prevent them from spending their own money on products they could cover with other means. This allows for a sense of convenience that the likes of Bob Jain CS can approve of.
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.
With these talking points, it's clear as to what gift cards have to offer over money. This isn't to say that the latter is a bad gift option in its own right, since it does the job in a hurry. However, if you truly want to make yourself stand out at any occasion - it could be a birthday party, baby shower, or what have you - the extra mile should be traveled. For reasons like the ones discussed earlier, gift cards are worth investing in.
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