Martin Lewis warns over popular Christmas present you should 'avoid'
Martin Lewis has issued a warning over a popular Christmas present it may be best to avoid. The BBC Sounds and ITV star has issued a warning to people buying gift store cards and vouchers for their loved ones as we approach Christmas and the festive season.
In his weekly newsletter, MSE founder Martin said: "Beware gift vouchers/cards. For some reason our British sensibilities struggle with giving cash, with many finding gift vouchers more socially acceptable. Yet there are buts bigger than a troop of baboons...
a) If the store goes bust, gift vouchers usually become worthless. b) Many have expiry dates, which often aren't made that clear. So think carefully about the likely financial strength of the retailer, and how quickly they'll be used.
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"If in doubt, cash (or money in the bank) is the ultimate gift voucher - it's totally flexible and usable anywhere." Speaking during his Martin Lewis Money Show Live Christmas special back in 2021, Martin said: “Understand they are not protected.
“If the firm goes bust, the money is gone. Many of them also have use-by dates on them that people forget to use. Personally, I’m in favour of cash - it’s the most flexible gift voucher there is. If you’re going to give a gift voucher, think about: is this company safe?”
Martin also used his show to remind struggling families not to waste cash on “unnecessary” presents - especially if you’re in financial difficulty. He described Christmas as having become “a retail festival” that causes some people “unhappiness, debt and worry”.
“Many people feel obliged to buy gifts for others that they know they won’t use, with money they don’t have, and cause themselves stress they don’t need,” said Martin. “I think part of the reason is we have disconnected from why we give gifts.
“We do tit for tat gift giving - which means people end up with tat.”