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Cash Is Perfect for Gifting

Categories : Cash connects people, Cash is a social network, Humania
November 17, 2022
Tags : Digital payments, Donations, gifts, Humanitarian, tips
Across the world, cash is an ideal instrument to give donations, tips, and gifts.
Manuel A. Bautista-González

Ph.D. in U.S. History, Columbia University in the City of New York

Post-Doctoral Researcher in Global Correspondent Banking, 1870-2000 – South America, University of Oxford

This post is also available in: Spanish

Cash Expanded Philanthropy during the Pandemic

While experts braced for a steep decline in philanthropic giving during the Covid-19 pandemic, cash donations did not fall as severely. According to Viviana Zelizer, a sociology professor at Princeton University, this arose from the fact that cash gave a chance to express human solidarity.

Cash Donations Across the World

Cash Tips and Gifts Are Best for Essential Workers

Gratuities are a significant part of the retribution of service workers worldwide. Employees in the hospitality sector greatly appreciate getting their tips in cash, as they accrue taxes and card fees on gratuities and receive funds with substantial delays. Delivery couriers and other gig workers have lost tips from unscrupulous clients and the abusive practices of Amazon, Uber, Doordash, and other platforms.

Figure 1. Mexico: Labeled Envelope for Postal Workers’ Day.

The Gift that Never Gives: Unused Gift Cards

Many U.S. consumers are using their unused gift cards during the inflationary spike. In July 2022, 47% of U.S. adults reported having at least one new gift card, voucher, or store credit, according to a Creditcards.com survey.

Each person in that survey reported having an average of $175 in unspent gift cards, vouchers, and store credits. Younger respondents are likelier to have unused gift cards and store credits than older and lower-income customers.

Cash as a Wedding Gift? Of Course!

Asking guests to bring cash as a wedding gift is becoming more socially acceptable if couples request it tactfully. “While specifically requesting cash is quite gauche, the savvy couple can gently direct guests toward a monetary gift,” said Jodi Smith, an etiquette consultant.

 

 

This post is also available in: Spanish

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