Cash or Gifts for the Holidays?
VELSHI: Cold, hard cash. It's the one gift everybody wants more of. But nobody really wants to ask for it. It's a little bit gauche.</s>ROMANS: It's a little tacky, right? It's also the one gift, Ali, you can be sure no one is going to return the day after Christmas or the first week of New Year's. So why are we so uncomfortable giving cash as a present, when it's really all most of us need?</s>ROMANS (voice-over): Bills, Benjamins, cold, hard cash. We have no problem spending it this time of year, but giving it?</s>JULIA LOUIS-DREYFUS, "SEINFELD": Cash?</s>JERRY SEINFELD, "SEINFELD": What do you think?</s>LOUIS-DREYFUS: You got me cash?</s>ROMANS: Long before the recession, Jerry Seinfeld tried to give cash as a gift, and it bombed.</s>JOEL WALDFOGEL, AUTHOR, "SCROOGENOMICS": Cash is really an awkward gift. It's socially acceptable for grandparents and aunts and uncles to give cash, but it really isn't socially acceptable for, say, friends to give cash to each other.</s>ROMANS: Awkward, yes. But 58 percent of Americans plan to give money as a gift this holiday season. So how do you give cash and not be tacky? Peter Post is the great-grandson of Emily Post, who, of course, wrote the book on such things.</s>PETER POST, DIR., THE EMILY POST INSTITUTE: The time it's OK to give cash is when a person, after you've asked them what they would like, says to you, You know, I'd really like to get cash this year or money this year because I'm saving up for a computer and I'll put it towards that computer or towards my vacation or whatever it might be.</s>ROMANS: What if you don't want another sweater or set of bath gels? Can you ask outright, Hey, give me money this year instead? Bad manners, says Peter Post.</s>POST: A person may have already chosen a gift for you. And just because you say you'd like to receive cash or whatever gift it is you said, that doesn't mean the person's obligated to give that to you.</s>ROMANS: And they might, in fact, be offended. Bottom line, whether you're giving or receiving, it's always the thought that counts.</s>POST: I think that a gift should have behind it a sense of thought about the person, that, I want to do this for you. I appreciate you. You're part of my life in one way or another. And this is my way of showing that appreciation.</s>UNIDENTIFIED FEMALE: Let me just give you a receipt. You want to carry that for your mom?</s>ROMANS: Bottom line, Ali, you can't tell Grandma, Hey, Grandma, I want cash for Christmas. Only if she asks you first, What would you like? Even though most of us are little less squeamish about giving gift cards than cash, Peter Post says etiquette rules still apply there. The bottom line is, know your audience and give a gift you think they'd like. That's the whole point. It's a gift. It's not their job to tell you they want 50 bucks or a gift card to the GAP unless you've asked them. You know, my husband asked my son what he wants for Christmas. He's 4 years old. He said without skipping a beat, Ali, he said, Daddy, I want a piggy bank.</s>VELSHI: Wow! Nice.</s>ROMANS: My husband said, I think he must have read your book!</s>VELSHI: Well, you know, you could get a piggy bank --</s>ROMANS: I'm with you. I'm with you. And I love the gift that you gave me earlier this year of the elephant from South Africa. That was a gift where you knew your audience. Thank you, sir.</s>VELSHI: There you go. Great to see you, Christine. Thanks so much. And thanks for joining the conversation this week on YOUR $$$$$. We are here every Saturday 1:00 PM Eastern and Sunday at 3:00 PM. You can also catch Christine Romans on "YOUR BOTTOM LINE" Saturday mornings at 9:30 AM Eastern. And stay connected 24/7 on Twitter @Alivelshi, @Christineromans. Have yourself a great weekend.