Speaking of presents…
We have a couple of birthdays coming up as well as the Christmas holiday in a few months. For people that have confessed serious money worries, is it crass to give money instead of regular gifts?
- Does it make a difference if the future gift recipients have not taken drastic measures yet to alleviate their money worries? For example, one with serious money troubles who might still be buying Christmas presents for family members.
- Does it matter whether this person is family or not?
- Does dollar value you’d normally spend on the present come into play? Say you normally spend $100 on this person. Would you give him or her $100? What if you’d normally buy a $15 gift. Would you give $15?
- Is any amount of money too small or too big to give?
These are just some things I’m thinking about. While it’s nice to give presents, is it more of a gift to give something practical instead of fluff?
It’s so much easier to make money decisions when you and your spouse are the only ones affected by them.
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September 4th, 2007 at 6:48 pm
I don’t believe it would be crass, however it would be situational.
If they are crying poormouth and are still spending like nothing has changed, I would not give cash in that situation. I would not take so far as to think that they should not provide christmas presents to their Immediate family, but they shouldn’t be constantly renting movies and going out to dinner.
It shouldn’t matter if it’s family or not but I think it might. Family (at least mine) seems to have the expectation of a gift from the heart.
As for dollar amounts, it depends on the amount and the circumstances. If I would buy my best friend (not that I ever would spend that much on hardly anyone) an x-box 360 for $299.99, but he needs cash, I might give him $100.00. I know it’s wierd but cash has a higher value that what it is spent on just due to the liquidity of it. You can spend the cash on what ever, you can’t spend the x-box.
There most certainly is an amount too small and too big. The small amount is circumstantial. If you would normally buy a $15 gift for them but they need cash go for $20.00. In cash I think the lowest you can go is $20. Below that it is almost an insult. You could get me an oven mitt for $7.50 and I would be happier with that than say $12.00. Now the $20 limit is also age dependant, it is contingent on adulthood. Children get what they get and should not be in dire straits to begin with.
As for the High limit, $100 is the max I would go for anyone not immediate family unless it is a loan. Now I would be extremely flexible with that loan, but loan none the less. As for Immediate family, about $300 would be the limit unless I was making the 1 time tax free gift of I belive it is $100,000 if I hit the lottery.
This is all my personal opinion, I don’t know of any ettiquete involved with this. I know I sound like an ingrate but that is my gut feel on gift giving as it pertains to cash.