Gift Cards For The Holidays

I read an article today about giving gift cards as Christmas gifts. For the person who has everything, what the heck, a card allows them to buy what they want and when they want it. In fact, I have been on the giving and receiving of such generosity. Two-thirds of Americans will give a gift card as a gift this year making it the #2 gift behind clothing.  But, in today’s economic climate, you want to think twice.

Recently, Circuit City, Linen N Things, World Over and Sharper Image have filed for bankruptcy. In some cases, cards are being honored but in other situations, the plastic is only worth the plastic it is printed on. Other chains who are not closing down are shuttering many locations including Footlocker – 140 stores, Ann Taylor – 177 and Zale’s – 100 stores. While I try to ignore all of the bad news, I am concerned that with a dismal holiday shopping season, we’ll find other mega-stores closing down. It might also be the case with restaurants. So, what to do?? 

If you are giving a gift card, do some research on the chain so it is valuable for whenever it gets used. If you are giving a gift for a child, inquire if they have a 529 Education Fund. Yes, the market is down, but in a few years, this will be money well earned at a time it is needed the most. If you purchase American Express, Visa and other forms of money, inquire if the exact amount has to be spent by the recipient. Trust me, there are a few catches that are not what the giver intended. Check the fine print.

And, as you contemplate shopping,.  don’t forget to get a supply of Farmers’ Almanacs for that perfect stocking stuffer. It is Timeless, Trusted and Treasured. It never goes out of style and is enjoyed by young and old. And, the price is right.

Happy shopping – only 42 more days until Christmas.

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Christmas Shopping, Gift Cards, 529 Education Funds, Stocking Stuffer