Gift Card Etiquette: How Much Should You Give? - Save.ca (2024)

FAQs

Gift Card Etiquette: How Much Should You Give? - Save.ca? ›

There are no rules when it comes to how much you should be spending. It's a very personal decision based on your financial situation and what you've spent previously. Here are some guidelines to give you an idea of what to spend. For co-workers, casual friends and your children's teachers, stay in the $10 to $20 range.

For employee recognition and appreciation gifts, a budget of $10 to $50 is suitable, with ideas like personalized thank-you notes, company-branded merchandise, flowers, or small gift cards for local coffee shops or restaurants.

California gift card law is established by various statutes. These statutes provide that: Most gift cards sold by retail sellers cannot contain an expiration date or a service fee, including a fee for dormancy, or nonuse.

Fifty dollars goes a long way, and you can use it for the kinds of stores suitable for multiple purchases, like some of the other options on this list. If, for instance, your friend loves to go to Starbucks, spending $50 on a gift card provides them with a lot of value. That's enough about Starbucks.

Tip #1 — Write something thoughtful

Don't just throw a gift card in an envelope and hand it over. Try to put some effort into the accompanying message. Something short and sweet or a touch of humor can really make the card more than just a piece of plastic.

For co-workers, casual friends and your children's teachers, stay in the $10 to $20 range. Gift cards for close friends and family members can range from $25 to $100. When you're selecting a gift card for a spouse, parent or someone else who's very special, choose a card worth $75 or more.

General etiquette is usually under $20 for casual acquaintances, like co-workers, $30-$75 for close friends and family members and more for someone like your spouse or for a big occasion, like a wedding. Always make sure that the dollar amount you give is visible on the card or write it down.

As of 2024, this exclusion is set at $18,000 per individual. This means that you can give up to $18,000 in cash or property to your son, daughter, or granddaughter individually without concern for tax implications.

No, gift cards cannot be tracked by the IRS. When it comes to the IRS and gifting, reporting gift cards is done using the honor system. However, if you are not honest about the gifts you are giving, the issue could come up in an audit.

Upon redemption of the gift certificates, the value of the certificate is includable in the measure of tax. Gift certificate transactions are not treated as discount transactions but regarded as credit memorandums.

What is the average gift card amount? ›

The gift card amount people purchase depends mainly on their budget. According to a survey conducted on over 1000 participants, more than 40% said they would spend between $20- $25 on Birthday Gift Cards. This is to say that most people will spend an average of $25 on Birthday Gift Cards.

It's fine. So if there's a wedding, graduation, rite of passage, or holiday on the horizon, and cash is what you want or need, please know that—as a bona fide expert in gift-giving etiquette! —I am telling you it's fine just to say so. And here's how to banish any awkwardness in messaging this.

In terms of gift giving, gift cards might be preferable if you have no idea what to buy for someone, because they allow the recipient to buy what they want, when they want it.

Depending on the event and the gift recipient, the average amount you can spend on employee gifts ranges between $15–$75 per person per occasion. But, exceptions can still apply.

As a general rule, gift cards are a great option for pretty much everyone in the office. A recipient can spend a gift card on what they like themselves. If it's a group gift, it means the group doesn't have to go to great lengths to show their appreciation.

Boss or mentor: $100 to $150.

If the range is a bit ambitious for you, you can always opt for a cool desk accessory or artwork, office accoutrements or even a gift card to a restaurant you've heard them talk about all the time.

Interestingly enough, 69% of workers say they would appreciate receiving a gift card from their employer. Many also would enjoy a cash award to acknowledge a job well done.