hi i'm dr julie fam here to help you practice curiosity to elevate your work and life today we're going to talk about gift giving should you spend time or money in this video i'm going to talk about the pros and cons of giving gifts of time and service versus monetary gifts that is gifts that have monetary value that you spent some money on each gift giving method has its own benefits and challenges and there is no universal best type of gift when gift giving is done thoughtfully it can actually serve to deepen relationships so now let's talk about the pros and cons of each starting with monetary gifts there are four pros number one it's really convenient and easy to buy a gift especially if you just get it online and you ship it directly to someone.

Number two, it's tangible.

So people understand clearly that this is a gift.

You can even get it wrapped.

Number three, you can get something for someone that they normally wouldn't get for themselves.

So it can feel like a splurge or a luxury, like a really nice box of chocolates.

Number four, you can also get them something, material that they really need.

For example, a couple that's expecting a baby and they have their baby registry, which lists all the things that they actually need to prepare for their new baby.

There are three cons.

Number one, it can be stressful to try to get the perfect gift for someone.

Number two, they might not actually like the gift.

That's why I always try to include a gift receipt so someone can easily return it or exchange it.

And number three, you might feel tempted to get a gift that's more expensive than what you can afford.

Now let's talk about the pros and cons for gifts of time and service.

Starting with the pros, there are four.

Number one, you can give a gift that is uniquely you.

For example, I like to give tours of my neighborhood in Seattle's Chinatown, and because I'm a member of a local museum, I also will give guest pass to that museum because I get a whole bunch of guest passes, so they're actually free to me.

Number two is you can spend more time with the gift recipient.

So if you're giving an experience, for example, you can deepen a relationship because you're spending more time with each other.

Even if you're doing an errand for them, you're spending time with them.

Number three is this can be helpful if you have more time than you have money.

And so if you're low on cash, but you have the time to do this, you can give something that's meaningful.

Number four, if the person you're giving a gift to has a lot of ability to buy whatever they want, then giving them a gift of time can feel more meaningful.

Now, there are the three cons.

Number one, because it's intangible, people might not realize that this is something that you consider to be a gift.

Number two, it might actually take more time than you think.

So for example, maybe you say, I want to help you prepare for your baby room by helping you decorate it.

And it turns out that that takes a lot more time than you thought it would.

And number three is you could have that friend who doesn't think of this as a one-time gift and they keep asking you again and again and they actually end up taking advantage of that that gift so choosing between a gift of time versus money isn't always easy and yet when you take the time to weigh these pros and cons it should make that decision making process easier i hope that you found these tips useful if you did please do click like and also share the video you can read a more detailed version of this on our blog at curiositybased.com.