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Why I Disagree With Suze Orman on the Subject of Gift Cards

By Michael Jacobs

Industry Observer CalDRE #01165532

December 26, 2014 07:00 PM

Why I Disagree With Suze Orman

on the Subject of Gift Cards

Gift Cards It was the Saturday before Christmas

I was alone with my thoughts and Suze Orman on CNBC

Now I know Ms Orman has some detractors

But, I think I can pick and choose my advice from many different sources.

I was kinda half-listening -- in between Can I Afford It?(if you have to ask, you probably can’t -- just my two cents) and another segment when the subject of gift cards for the holidays came up.

Suze said no way -- don’t give gift cards as presents -- just give cash…

Well, I like cash just as much as the next guy but I don’t dislike gift cards whether I’m on the giving or receiving side

Suze said that gift cards encourage overspending by people who can’t afford it

or worse - never get spent or even worse -- are lost….

So what if you’re a really good listener and you buy gift cards for places people like and support?

Even if the gift card isn’t enough to cover the price of a purchase -- doesn’t it help the receiver towards the purchase price?

So, Suze while I respect and appreciate your fiscal responsibility...

I will continue to give gift cards as I see appropriate and I’ll gladly accept them --

By the way -- I’m not going to address the issue of those who say giving of gift cards is the lazy way out because I know that is not an argument I will ever win(nor do I care to try).

What About You?

Why I Disagree With Suze Orman

on the Subject of Gift Cards

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Noah Seidenberg

Coldwell Banker - Evanston, IL

Chicagoland and Suburbs (800) 858-7917

I also like to give Gift Cards Michael. I am no fan of Suze Orman, I will leave that alone. If you do not know exactly what to give a person you are thinking of and you give them a gift card they can choose what they want on their own. I do not agree that it causes over spending and many things she says. I know many folks who use gift cards these days.

Dec 27, 2014 03:09 AM

Joanna Cohlan

Chappaqua, NY
Michael Jacobs

Pasadena, CA

Endre Barath, Jr.

Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA

Realtor - Los Angeles Home Sales 310.486.1002

Michael looks like you are preaching to the Choir here. I suspect the people we give gift cards to are wise enough not to loose the gift cards as well as they can afford to "over spend" a little, Endre

Dec 27, 2014 03:29 AM

Joanna Cohlan

Chappaqua, NY
Michael Jacobs

Pasadena, CA

Fred Griffin Florida Real Estate

Fred Griffin Real Estate - Tallahassee, FL

Licensed Florida Real Estate Broker

You can have Suze Orman... but that's another blog. I do agree with you about Gift Cards!

Dec 27, 2014 06:54 AM

Michael Jacobs

Pasadena, CA

Chris Ann Cleland

Long and Foster Real Estate - Gainesville, VA

Associate Broker, Bristow, VA

What's the difference when we are talking about encouraging over spending? Is cash really different than a gift card? Is the recipient of cash really thinking, This is ALL I have to spend? Suze is living in non-reality if that's what she thinks.

Dec 27, 2014 07:15 AM

Michael Jacobs

Pasadena, CA
Joanna Cohlan

Chappaqua, NY

Laura Allen, Lake Tahoe - Truckee Real Estate for Sale TahoeLauraRealEstate.com

Coldwell Banker Realty, Tahoe City, CA (530) 414-1260 - Tahoe City, CA

Tahoe Real Estate Agent Helping Buyers and Sellers

Michael - I think your idea of giving a gift card from a local business that you want to support makes a lot of sense, especially if that is where you would have selected an item for that person - it's your money to give away, so use those gift cards!

Dec 27, 2014 08:05 AM

Joanna Cohlan

Chappaqua, NY

Patricia Kennedy

RLAH@properties - Washington, DC

Home in the Capital

Michael, I'm sort of old fashioned. The challenge for me is finding a perfect gift that the recipiant won't want to return. I'm not a big fan of gift cards.

Having said that, virtually all of the financial "experts" seem to get it really wrong when they write about things that I really know about - airlines and real estate.

Dec 27, 2014 10:09 AM

Michael Jacobs

Pasadena, CA

Debbie Laity

Cedaredge Land Company - Cedaredge, CO

Your Real Estate Resource for Delta County, CO

I'm with you and I have no problem giving or receiving a gift card.

Dec 27, 2014 11:07 AM

Michael Jacobs

Pasadena, CA

Joanna Cohlan

Fresh Eyes For Your Home - Chappaqua, NY

Designing, Decorating & Staging Westchester Homes

I agree with you Michael - a cash gift is lovely but a gift card is just as lovely and why would it encourage overspending more than cash! We don't need to encourage or step around an addict - they will have any excuse to spend!

Dec 27, 2014 11:30 AM

Michael Jacobs

Pasadena, CA

Liz and Bill Spear

Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH

Transaction Alliance Cincinnati & Dayton suburbs

Michael, I've got a box of gift cards still waiting to be used. My nieces have generally liked getting gift cards, but this year I did switch to cash. They're getting older and figured they'd probably like the flexibility. That said, I'd prefer to give a "real" gift, but for their circumstances cash is king so that's what I'll keep doing for them. Bill

Dec 27, 2014 11:38 AM

Michael Jacobs

Pasadena, CA

Sharon Lee

Sharon Lee's Virtual Assistance - Jonesborough, TN

Retired and loving life

Michael-I am at the point in life where the only person I shop for gifts is Mom and then only what she needs and of course sweets. My one brother gets a check. Another brother and his wife gets LL Bean gift cards because they don't need anything. Both have well paying jobs and wouldn't accept a check or cash and they like LL Bean so whatever they might need or want that is a good place for them. My 2 nieces get checks. They live in a different state and now grown adults and a check is the best gift. I am not against giving gift cards but I do know some people do forget about them and then if they try to use them later they aren't valid. Also I don't like that you are charged for some of the gift cards. Just my 2 cents worth

Dec 27, 2014 11:07 PM

Michael Jacobs

Pasadena, CA

Michael Jacobs

Pasadena, CA

Pasadena And Southern California 818.516.4393

Thanks for stopping by and your comments. It was not my intention to say anything negative towards Suze Orman who has some financial advice I believe and follow. And who doesn't love Kristen Wiig's impersonation of her on SNL? I have heard Suze does too.

Dec 28, 2014 05:32 AM

Inna Ivchenko

Barcode Properties - Encino, CA

Realtor® • GRI • HAFA • PSC Calabasas CA

I buy gift cards for gifts all the time! Anytime we going to kids birthday and I ask what to give, the answer is always the same: a gift card. Kids are absolutely sure, we adults have no idea what they like and will prefer a gift card any time for any occasion. 5-10 cards are good for any occasion to say hello.

As for adults/friends I would always choose a gift to make it more personal( I want them to love it:) , if they don't like it, the gift receipt is always attached and they can exchange it.

Dec 28, 2014 08:43 AM

Michael Jacobs

Pasadena, CA

Inna Ivchenko

Barcode Properties - Encino, CA

Realtor® • GRI • HAFA • PSC Calabasas CA

Suze is a fun girl:) I haven't listen to her for a long time, but I remember she always have a strong opinion on things. It does not work this way: one universal answer for everyone.

Dec 28, 2014 08:45 AM

Michael Jacobs

Pasadena, CA

Beth Atalay

Cam Realty and Property Management - Clermont, FL

Cam Realty of Clermont FL

Michael, what difference does it make whether it's a gift card or cash. The receiver knows how much he/she can afford and will make the same purchase whether we give them a gift card or cash. I give nothing but Visa gift cards and never heard anyone complain.

Dec 29, 2014 03:08 AM

Michael Jacobs

Pasadena, CA

Sharon Tara

Sharon Tara Transformations - Portsmouth, NH

Retired New Hampshire Home Stager

I'm with you on this one....gift cards are just fine with me! I got 3 this year and I'm quite pleased with each one! I gave several and feel really good about the choices I made.

Dec 29, 2014 03:20 AM

Michael Jacobs

Pasadena, CA

Debbie Reynolds, C21 Platinum Properties

Platinum Properties- (931)771-9070 - Clarksville, TN

The Dedicated Clarksville TN Realtor-(931)320-6730

I appreciate receiving a gift card and I know others that do too. It has even introduced me to new places to shop and that was a fun experience.

Dec 29, 2014 11:16 AM

Michael Jacobs

Pasadena, CA

Michael Jacobs

Pasadena, CA

Pasadena And Southern California 818.516.4393

Inna Ivchenko - Suze definitely has her ideas of how things should be done --- she definitely is not wishy-washy.

Hi Beth Atalay - we can't control what anyone does with a gift after it is received, right? My only issue with the bank gift cards(VISA, MC, AMEX) is that there is an activation fee as part of the transaction --- I know it's a small fee but the card value is lower, it makes more sense to me to give cash or an alternate gift card.

Dec 30, 2014 12:55 AM

Michael Jacobs

Pasadena, CA

Pasadena And Southern California 818.516.4393

Sharon Tara - I gave/received gift cards this year as well and while I still have some "leftovers" from previous years -- in California - they do not lose value or expire over time.

Debbie Reynolds - that's true too --- there can be some new discoveries made.

Dec 30, 2014 12:59 AM

Joan Cox

House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO

Denver Real Estate - Selling One Home at a Time

Michael, guess I missed this one, and have to chime in, I like gift cards. It is nice to discover you have one when you think about going!

Feb 27, 2022 07:14 AM

Michael Jacobs

Pasadena, CA

Michael Jacobs

Pasadena, CA

Pasadena And Southern California 818.516.4393

Joan Cox - thank you for "finding" this post and your comment. It was nice to read the comments and remember the days when I used to listen to Suze Orman (I even read some of her books too). It's interesting to see how times change some things (but keep many of them pretty much the "same").

Feb 27, 2022 07:53 AM