What do you want for Christmas?
Is it the newest iPhone? A new pair of shoes? A vacation? Odds are, you want none of the above. According to a study conducted by MintLife, 61% of Americans want cash for Christmas. What’s the catch? None of them want to give it.
MintLife reports that of the 61%, only 40% are willing to give cash or gift cards as presents. Here are three reasons that might explain why:
We Have Bills to Pay
This new holiday trend could stem from financial strain. People may want to get money for Christmas to bolster their bank account or pay some bills. However, they may hesitate to return the favor because it’s more budget-friendly to give a great gift that you bought at a bargain than to dole out stacks of cash. The recipient doesn’t have to know that you purchased their present with an 80% discount.
Let’s face it: it’s hard to give away our money directly. However, when we buy presents, our perspective shifts. Even though we’re giving away our money to buy a gift, the transactional process makes us feel as though we’re getting something out of it—even if it’s destined for someone else.
Some of Us are Great Gift-Givers
There is an elite sect of individuals among us who know how to nail gift-giving. This faction is on the hunt for the perfect present all year, and they always seem to know what their loved ones want. And sometimes, the very same gift-givers just want cash in return.
Though some folks may frown upon not giving what you’d like to get, there’s nothing wrong with wanting cash for Christmas. Besides, no rule dictates if you’d like money as a present, you have to give it.
Be sure to check back with our blog for more insights on financial trends!