According to a Zelle survey, 58% of Americans would prefer to receive money as a gift this holiday season
- 40% of people say they plan to give money as gifts over the holidays
- 63% of people will use it for either experiences, bills or personal spending
If you’re dreading heading to the store to do your holiday shopping, or you’re undecided about what to buy members of your family, you’re probably stressing out for nothing. That’s because according to a new survey, the gift most people want is…money.
The Zelle poll finds that 58% of Americans would prefer to receive money as a gift this holiday season, which is good considering 40% of people say they plan to give money over the holidays.
As for what they’ll do with the dough, 63% of people will use it for either experiences, bills or personal spending, but how they use it does depend on the generation. It seems Millennials are more likely to use the dough for experiences, while Gen X and Boomers are more likely to use it for personal spending.
So, if you’re giving money, how should you do it? Of course, since this is a survey by the banking app Zelle, they are trying to show you why you should use them, instead of say, checks. They point out that 20% of people say they have received checks as a gift and never cashed it. Close to half say they didn’t cash it because they lost or forgot about it, with plenty of people saying taking a paper check to the bank is too much of a hassle.
Source: Biz Journals