There are soe people that like to give money as a present to both children and adults and some people that like to give gifts. It is something which many people are split on but it is worth having a think about the two options and considering which is likely to be the best for you to do.
Advantages of Money
Giving money can mean their children have the opportunity to learn to save. They will be able to put the money into their bank account and watch it grow or put it together with other money they have or receive to buy something more expensive. Both of these will teach them important lessons. One about saving for when they need money and the advantages in having some savings to fall back on as well as being able to see their interest grow. The other to learn that sometimes we have to wait to buy things that we want. If we learn to save up for things we want, then we are less likely to borrow money just to get something quickly.
Even if they do decide to spend them money, they will be able to buy something that they want. They might enjoy being able to choose items that they wish to have rather than having gifts, which perhaps may not be things that they need or want.
Advantages of Gifts
Some people really like shopping for gifts. They get a lot of pleasure out of choosing items to give to people and therefore want to buy gifts for people. They might also think that it looks like they have made more effort if they buy someone a gift rather than if they just give them money. There is sometimes a fear that it will look thoughtless and lazy to give money even if there are good reasons behind it as explained above.
Some people like receiving gifts rather than money. If you know people like this then it is better to give them something rather than money or else they may just be offended.
It can also be tricky if you can only afford to spend a very small amount. If you buy a gift you may be able to put it on a credit card and spend more than you could afford if you drew out the cash. Or you could consider applying for a no credit check loan. You may also find that if you find a sale, bargain or other sort of good deal, you will be able to buy a gift that looks like you spent more money than you actually did so you will be able to hide the fact that you do not have much money. Although it should not be anything to be ashamed of.
Therefore, it could be the case that whether money or gifts are most appropriate many depend on the recipient and what they like as well as what your point of view is on the matter. It is worth some careful thought though as using money as gifts, particularly for children could help to teach them some responsibility with money. Often, they will get a lot of gifts and perhaps having some money will make the occasion less over whelming and could mean that they will be able to buy something that they want once the novelty of those gifts has worn off. It can be difficult if the children’s parents want them to have gifts and you feel money will be better and you may have to please them rather than doing what you feel is the best. Sometimes it is better to just to try to avoid falling out with someone and you could always switch to giving money once that child gets older.