Giving Cash as a Gift

I was discussing with two friends the appropriateness of giving cash as a gift.  It certainly is the case that as I get older, I tend to enjoy shopping less and appreciate practicality more.  Both of these argue for cash being appropriate, including for birthdays, holidays, and wedding gifts.  In many cultures, cash (or possibly gold) is customary for gifts.  One of my friends thought that cash was a bit problematic in that the exact amount of the gift is known to everyone and made the gift seem impersonal.  I thought about this some and still came down to preferring cash or near cash items, depending on the recipient and the occasion.  Here are some near-cash ideas:

– Gift certificates or gift cards — I particularly like (to give and receive) gift certificates or cards at places that carry a wide range of items and that are not hard to find geographically.  For new graduates, I have given gift certificates to their favorite restaurant, and for a house warming, a gift to a kitchen supply store.  With gift cards, be sure you read the fine print and understand how not to lose the value on the card (is their an expiry date, can you transfer the credit to another card?)

–Donations — the trend of supporting charitable causes by directing donations towards them is increasing.  I find this one of the best ways to offer a show of support for a friend by helping out a worthy cause they endorse.  Keep in mind that many charitable organizations will accept donations in kind (such as used cars and airline miles).

–Investment bonds or stock certificates – I have given investment bonds to a small child to be placed in their college fund.  I find this is a great way to help a niece, nephew, or grandchild build up their savings. There are services that allow people to purchase shares of stock from a wedding registry, but I must admit I haven’t tried this.

Do you give cash as a gift frequently?

shared at Works for Me Wednesday