We celebrate people with gifts. But if you want to take the party up a notch, give a group gift.
They ensure you give the best gift possible without breaking the bank. And considering the economic hardships people have faced in recent years, who can argue with that?
Keep reading to see why people give group gifts and how you can easily collect money for one.
Not sure what to give? Draw inspiration from a slew of ideas, and discover why cash is such a favorite gift for both givers and receivers alike.
The parties can’t come quickly enough when you know how to give the perfect gift. And that’s exactly what you’ll be able to do with this article.
What is a group gift?
Group gifts are when people go in on a present together. In some cases, everyone splits the bill evenly. Other times, contributions vary depending on everyone’s financial situation.
Why give a group gift?
There are many reasons why group gifts take the cake.
They’re not new, but what they lack in novelty they make up for in being a big crowdpleaser. Here’s why.
1. Group gifts create pleasant exchanges
No one wants to spend their hard-earned money on a gift that falls flat. Unfortunately, that happens more often than we care to admit.
Everyone can think back to a time when they either gave or received an awkward gift. You know, the one that’s already scheduled to be regifted before you toss the wrapping paper aside.
Spare yourself the cringe-fest by going in on a group gift with other people.
2. Joint gifts transmit more well wishes
What’s more heartwarming than people coming together and giving a joint gift?
This one gift - no matter what it is - carries the appreciation and support of everyone in the group. That’s a powerful gift.
3. People feel proud of group gifts
Have you ever tried to slip away to the buffet table so you didn't have to watch someone open your underwhelming gift? We’ve all been there.
But instead of hiding behind the hors d’oeuvre, group gifts make you want to stick around because you’re proud of them.
For example, instead of giving a sweet but forgettable knick-knack, give something impressive, like the deluxe edition of their favorite author’s works. Or, instead of giving one subpar sweater, send them on a guilt-free shopping spree with a gift card to their favorite brand.
4. Give big-ticket gifts without the sticker shock
Do you ever find the perfect present, but can’t afford it? When you join forces with other people, you can give a wonderful gift without breaking the bank.
For example, you can give a wine tasting class in Napa Valley rather than a bottle of wine; or tickets to a sporting event, rather than a jersey.
When are group gifts appropriate?
Group gifts are fitting whenever you want to show someone you appreciate and support them.
Popular occasions for group gifting include:
- Religious occasions
- Farewell/Going away
- Get well
- Mother’s Day/Father’s Day
Whatever the occasion, group gifts are sure to make the recipient feel extra special. Keep reading to see how you can pull it off, too.
Start a Braid Money Pool to collect money for your next group gift.
How to give a group gift
Group gifts are intended to make the recipient happy. The good news is the givers feel delighted, too.
Follow these eight steps to give your gift with more ease and enjoyment.
1. Get your group together
As the special occasion approaches, invitees might feel gift-anxiety. Remedy this by reaching out to others people. Chances are, they are in the same boat but feel shy about broaching the topic.
Mention “group gift” and they’ll be more than happy to go in on one with you.
2. Decide everyone’s contribution amount
Some groups ask that each member contribute an equal amount. Other groups need more flexibility to accommodate everyone’s budget.
Take some time to toss around different amounts until you hit a sweet spot that works for everyone.
3. Collect money for your group gift in a Braid Money Pool
With Braid, create a free money pool and send the link to as many people as you want. With this link, they can contribute money to the pool using their debit cards without having to create an account.
There are no fees to run your pool, and you keep 100% of what you collect for the group gift.
4. Brainstorm together
Group gifts should be the result of thoughtful collaboration. But it’s natural to draw a blank sometimes. Here are fun ideas for your brainstorming session:
- Monthly flower delivery
- House cleaning services
- Landscaping services
- Bespoke handbag
- Luggage set
- Wine tasting class
- Pottery classes
- Snorkeling certification
- Ballroom dance lessons
- Tickets for sporting events
- Tickets for performing artists
- Season tickets to the local Philharmonic orchestra
- Spa treatments
- Chocolate masterclass
- Tour a gin factory
- Dinner at a Michelin Star restaurant
Ready to start your group gifts money pool? Get started here.
5. Experience gifts vs material gifts
Many of the ideas listed above are experience gifts. And if you're on the fence about what to purchase, here are some persuasive reasons to gift experiences, rather than things.
According to this survey, 63% of U.S. adults prefer to receive an experience gift rather than a material one. And 59% of U.S. adults say it’s easier to give experience gifts than shop for material ones.
Why do so many Americans want experiences over things?
Psychology suggests that even though material items seem to form our identity, it’s really experiences that shape us and make us happier.
Experience gifts are like three gifts in one:
- The first gift is receiving money toward the experience
- The second gift is the experience itself
- The third gift is the gift of anticipation. Once the celebration ends, the recipient has something to look forward to, and that can brighten anyone’s daily grind
6. Purchase gifts directly from the pool
Once you collect everyone’s contributions and select your group gift, purchase it directly from the pool.
There’s no need to transfer money to your bank or PayPal account to spend pooled funds.
Whether you purchase big-ticket gifts or experience gifts, you can do it all from the pool using the free digital debit card that comes with it.
The Braid debit card is accepted everywhere Mastercard is and there are no transaction, service, or overdraft fees.
7. Give the gift of money
61% of Americans prefer to get cash rather than physical gifts.
This is good news if your group can’t decide on a physical or experience gift. By giving money, you can:
- Avoid disappointing the recipient
- Save time and energy
- Celebrate the recipient when travel complications or health concerns prevent people from coming together
Most people give money using gift cards or e-gift cards. But you can also gift money with Braid Money Pools.
8. Give the gift of money with a Braid Pool
It’s easy to give the gift of money with Braid.
Simply start your free money pool and name it. For example, “Happy Birthday Dad from Your Kids!”
Then, send the link to everyone in the pool so they can add money with their debit card.
When it’s time to give your joint gift, you can do one of two things:
Share the original pool
Invite the recipient to your pool. As pool admin, adjust permissions so they can spend money directly from the pool with the free digital debit card that comes with it.
You may choose to adjust transaction visibility so they only see the total sum, not individual contributions.
Create and share a new pool
Another option is to transfer the collected funds to a brand new money pool. Then, text the link to the recipient. It gives them direct access to their cash gift.
With a brand new pool, they can spend without the rest of the pool members seeing their transactions or spending.
There are no deadlines to spend pool funds and the pool never expires. This means everyone’s contributions retain their value, and the recipient isn’t pressured to spend quickly.
Give your group gift with a free Braid Money Pool: Pool Money for Gifts
Group gifts made easy with Braid
Without the right tools, group money gets confusing. Use Braid to keep your group money simple and light. Here’s how it works.
Group money stays in a dedicated pool
Group money gets messy when one person has to collect it in a personal bank account.
Usually, money is transferred using peer-to-peer platforms like Venmo or PayPal, but it’s a lot for one person to keep track of.
With Braid, you have a shared wallet where everyone’s money stays until you either buy a gift with it or send the money to the recipient.
Create a Pool Link for the Group Gift
Once you've decided what you're going to give the recipient, customize the pool link to begin collecting contributions. Through the pool link, anyone can contribute without having to sign up for Braid and contributions are made instantly available.
Add an image and description of what you want to give and when everyone's contribution needs to be in by.
Braid Money Pools are 100% free for everyone
Your Braid Pool is free to create and operate. Everyone can contribute without paying any fees. The recipient can spend without incurring fees, too.
With Braid, it’s easy to keep track of group money.
Instant notifications show when someone contributes or spends, and every transaction is visible in the pool.
The best part? Group money never mixes with personal accounts.
Set permissions for easy management
If others are helping you coordinate the group gift, invite them to the pool as members. As pool admin, you can set permissions to keep your pool running smoothly.
For example, if you need someone to purchase the gift for you, set permissions so they can spend with the Braid card.
Or, if it makes more sense for someone else to invite extended family to the pool, set permissions so they can invite these new members.
If you share the money pool with the recipient, set permissions to hide individual contributions from them.
Group gifts are a fantastic way to celebrate people you care about. And Braid is your go-to tool when you want to give the perfect group gift or give the gift of money.