Our Gifting Culture
It was late at night. We had just returned from our cousin’s housewarming party when my phone rang. It was my cousin calling. ‘Did we forget something in their house?’ – I wondered as I picked up the phone.
“Hey! Can you guys come back again tomorrow afternoon? We need help with the gifts!”.
It turns out that he had received a lot of gifts. The gifts were not bad. But there are only so many decorative items you can put up in your house!
So we now had to figure out what to do with all these extra gifts.
After rummaging through the heap – a handful of gifts were deemed worthy of keeping. It was a problem determining what to do with the other gifts, so we wrapped them back. Now they would be gifted to someone else – so they will become someone else’s problem!
My cousin’s situation was not unique – more than $15 Billion is wasted on unwanted gifts in America during the Christmas season! I can barely imagine how much is wasted all over the world all year round!
The Gifting Process
After spending the afternoon unpacking and repacking gifts, I realized that the gifting process is very inefficient. One side spends a lot of time and effort trying to determine what gift to give. The other side then spends a lot of time and effort to determine what to do with that gift.
Not to mention all the money wasted in the process.
Lastly, the person who receives the gift now feels compelled to give a gift next time around – thus perpetuating this cycle…
The Finer family is not a fan of wasteful spending and clutter – and the gifting process leads to both these things.
What’s the best gift?
A broken drum. You just can’t beat it!
Gifting Culture – The Alternatives
So, what can be done? ‘No Gift’ parties are an ideal solution. Barring that, below are a few other alternatives.
For kids – contributing to a child’s 529 plan (or other education plans) can make a great birthday gift. Better still, set up an annual contribution – so you don’t have to worry about a gift every year! Unlike a toy that gets discarded in a couple of days, this money can grow over the years and help with their educational expenses.
Gifts can help kids learn about money. For younger kids, give money for their piggy bank. A gift card can help older kids learn about spending and saving, and stocks can make great gifts for teenagers.
There are several non-traditional gifts for grown-ups also. You can donate to a charity on behalf of the recipient if they are so inclined. A gift of time can be a great gift too. For Monther’s Day – you can arrange a picnic, offer to help with the garden, or do chores for a week.
Another great idea is to gift something unique or something related to your hobby. A friend recently gave us a nice home-made gift set:
In Conclusion
Many non-traditional options help you save money and make great gifts. Next time someone invites you to a party, try one of these!