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.
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.
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 crowd-pleaser. Here's why.
- 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 by going in on a group gift with other people.
- Group gifts offer warm 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.
- Remind the recipient of the community surrounding them. We always want to be reminded of the community that surrounds us. A group gift is an easy reminder and a great way to make the recipient feel the strength of their own community.
- 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. 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.
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:
- Birthdays
- Religious occasions
- Retirement
- Farewell/Going away
- Weddings
- Anniversaries
- Graduation
- Appreciation
- 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.
How to give a group gift
Follow these eight steps to give your gift with more ease and enjoyment.
- 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.
- 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. In some cases, everyone will split the bill evenly. Other times, contributions vary depending on everyone’s financial situation.
- Collect money for your group gift in a Pool. With Pool, you can create a Pool for free and invite as many people as you want. There are no maintenance fees to run your pool, and you keep 100% of what you collect for the group gift.
- 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 account to spend the money. 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 Pool debit card is accepted everywhere Visa is accepted.
- Experience gifts vs material 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 and 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 day.
- Consider a cash gift. 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 and celebrate the recipient when travel complications or health concerns prevent people from coming together. Simply start your free Poola nd name it. For example, “Happy Birthday Dad from Your Kids!” When it’s time to give your group gift, you can simply share the Pool with the recipient. 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 can also create a new Pool for the recipient. 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.
- 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
- Kayak
- Bike
- Ballroom dance lessons
- Tickets for sporting events
- Tickets for performing artists
- Season tickets to the local Philharmonic orchestra
- Spa treatments
- Getaway
- Chocolate masterclass
- Tour a gin factory
- Dinner at a Michelin Star restaurant
Group gifts made easy with Pool
Without the right tools, group gifts can be frustrating. Use Pool to keep your group gifts simple and light. Here’s how it works.
- The money stays in a dedicated Pool. Sharing 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 Pool, 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 just for the group gift. Once you've decided what you're going to give the recipient, customize your Pool to begin collecting contributions. Add an image and description of what you want to give and when everyone's contribution needs to be in.
- It's free to create and operate your Pool. Everyone can contribute without paying any fees. The recipient can spend without incurring fees, too.
- Transaction visibility. With Pool, it’s easy to keep track of your money. Instant notifications show when someone contributes or spends, and every transaction is visible in the pool. The best part? Shared 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 Pool debit 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.
Group gifts are a fantastic way to celebrate people you care about. And Pool is your go-to tool when you want to give the perfect group gift or give the gift of money.