When Cash is Better than a Gift Card
I just gave my kids CASH for their birthdays INSTEAD of gift cards. And here’s why.
About a month ago, both of my April children started talking wish lists. Matthew wanted a myriad of things ranging from duct tape to an iTouch 4G. Ally wanted clothes from nearly every store in the mall. I won’t pretend that we’re poor, but flush we are not either. I like the idea of duct tape for a birthday gift. Not so much the new iPod.
Birthday Budget
Tired of the looming financial tug-of-war, I offered them both a “birthday budget” in which they could decide how money allocated for their gifts would be spent. It’s one of the best decisions I’ve ever made.
For the past month, to every whim of a want that surfaced, I simply responded, “take it out of your birthday budget.” Surprisingly, both held the coffers tightly, spending nary a dime prior to their celebration days. Both turned into QUITE discerning shoppers once they understood money spent today would be gone tomorrow.
Cash is Better When…
- Saving Up – Matthew decided to save all his money for an iTouch. Since he wanted to shop for the best deal, a gift card wouldn’t work. He needed cash.
- Shopping Around – Ally wanted a bonafide shopping trip. She wanted to shop from store to store with her only restraint being the total dollars spent. She needed cash for flexibility.
Both loved the control and are obviously pleased with all of their gifts. But there was little “ceremony” to the day other than blowing out the birthday candles. Though I rather liked it, I’m wondering if they will one day claim I didn’t celebrate their birthdays properly. Only time will tell.
P.S.
My June birthday boy is already asking if it’s too early to dip into his “birthday budget.”








