Lending Club Blog

Other Gifts That Take When Given

I’ve previously described a gift card as the gift that keeps on taking, but other gifts can take from the recipient as well. This doesn’t necessarily make them bad gifts, but the point should be taken into consideration when choosing what to give someone. We may have survived the holiday gift-giving season, but now we have a whole new year of gift giving in a tight economy, so these considerations are especially worth repeating.

Gift cards take from the recipient in the form of a multitude of fees and limitations as to where and when they can be redeemed. Many other gifts take by obligating the recipient to spend money. Obvious examples include any gift that requires a maintained subscription or service contract, such as a cell phone, satellite radio, TiVo, etc. Other, less obvious examples include a digital camera, which typically need accessories to operate and cause the user to incur costs to have prints made.

When giving such gifts, consider whether the recipient will see it more as a gift or a burden. Take the person’s ability to pay for the add-ons into account as well. Adding all necessary accessories to the gift or prepaying for a few months of service will help. That way, the recipient can truly enjoy the gift and make a rational decision about whether or not to continue its use and incur its associated costs.

The goal of most gift givers is to bring joy to the recipient on a whole host of occasions throughout the year. Some of the best gifts do have additional expenses and shouldn’t be dismissed. I have certainly enjoyed such gifts. It’s just that adding expenses is often an unforeseen consequence and might be particularly burdensome on the recipient in the current economic crisis. Think about those expenses when giving gifts to ensure that they do not reduce the benefit of the gift beyond the level you intend.

Have you received a gift that was more trouble than it was worth?

Wednesday, January 14th, 2009 at 6:34 am

Comments (0)

Recommended

Welcome Home

Lending Club named #5 on Forbes’ Most Promising Companies List

Get ready for tax season with Lending Club’s Tax Form Guide

New Adjusted Return Metric

See more
Lending Club Awards
  • Archives z

Recent Posts

Growing Your Business By Using Capital

Smart small business owners don’t wait to consider borrowing… Read More »
August 19, 2016

9 Reasons to Open an IRA

Retirement: a word that often comes with many connotations.… Read More »
August 5, 2016

6 Reasons to Get a Personal Loan

While it would be great if we all had enough… Read More »
July 29, 2016

Lending Club and the Marketplace Model

Some of our investors have observed the funding environment… Read More »
July 28, 2016

A Recap: Credit Strength on the Lending Club Platform

We are proud of our… Read More »
July 14, 2016

A Message to Investors from our President and Acting CEO

Today, our President and acting… Read More »
May 19, 2016

Lending Club Receives Tribeca Disruptive Innovation Award

Disruptive innovation comes in many… Read More »
April 29, 2016

Lending Club Business Financing Review

One of the biggest challenges of owning a small… Read More »
April 27, 2016

Lending Club partners with Funding Circle and Prosper to launch Marketplace Lending Association

Read More »
April 7, 2016

Lending Club Welcomes Maryland and North Dakota Investors!

We’re now open to retail… Read More »
February 23, 2016

2014

We went public today!

Ringing the bell this morning at the New York… Read More »
December 11, 2014

New and Improved Statistics Page

We recently redesigned our Loan Statistics page to make… Read More »
November 13, 2014

Lending Club Honored with Economist Innovation Award

This month I was honored… Read More »
October 15, 2014

Welcome Vermont Investors!

Today, we’re thrilled to welcome residents of the state… Read More »
September 4, 2014

We filed to go public today

We filed a registration statement with the SEC today… Read More »
August 27, 2014

Our Billion Dollar Quarter

We’re excited to announce  that we’ve facilitated over $5… Read More »
July 8, 2014

Is Lending Club Available in My State?

Is Lending Club available in my state? That is… Read More »
July 7, 2014

Lending Club Joins Senator Cory Booker to Discuss Improving Access to Capital for Small Businesses

Read More »
June 20, 2014

Lending Club Named a CNBC Top 50 Disruptor for a Second Year

For the second year in… Read More »
June 17, 2014

PRIME is now Automated Investing

Lending Club is excited to announce that PRIME has… Read More »
May 14, 2014
View All w