Welcome to Ask Clark, a column designed to answer your financial questions by money expert Clark Howard.
What Is Your Advice on Gift Cards This Holiday Season?
Kevin from Idaho asks: “What does Clark recommend when it comes to buying gift cards for this holiday season? With so many businesses closing locations or closing completely, is it too risky?”
Clark’s Take on Gift Cards This Holiday Season
Clark says: Buying gift cards is “something that is too high risk to do even for established chains.”
Clark has long had a no-gift card rule that he would break only if bonus money was involved. Now that economic conditions are especially unstable for many restaurants and other businesses, this is his added exception:
“Unless you’re doing it specifically as an act of kindness to try to help that restaurant survive … it’s a good idea not to buy gift cards this year.”
To hear Clark’s full take on this question and many more, listen to the full episode here:
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