Martin Lewis has issued a stark warning to households ahead of the festive season: never buy gift cards as Christmas presents. The Money Saving Expert founder, who turns 54 this year, explained that the risks have nothing to do with expiry dates alone, but with the potential financial collapse of retailers.
With well under 100 days to go until Christmas Day, the BBC and ITV star has urged shoppers to start preparing early. In his latest guidance, Lewis highlighted that while gift cards may feel more socially acceptable than handing over cash, they carry significant dangers that recipients may not be aware of.
Why Gift Cards Are a Risky Choice
Lewis said: “BEWARE gift cards and vouchers. Many find giving a gift card more socially acceptable than cash - I get it, cash gifts just aren't very British! Yet unfortunately, vouchers have risks.”
The core problem, according to Lewis, is that if a store goes bust, gift vouchers usually become worthless. He also pointed out that many gift cards have expiry dates, which are often not made clear enough to the buyer or the recipient. He advised consumers to check when each store's gift cards expire and to tell the person receiving the gift about any time limitations.
“So think carefully about the likely financial strength of the retailer, and how quickly they'll be used. If in doubt, cash (or money in the bank) is the ultimate gift voucher - it's totally flexible and usable anywhere,” Lewis added.
The Case for a No Unnecessary Present Pact
Beyond the practical risks of vouchers, Lewis also revisited his broader argument against unnecessary Christmas gifts. He suggested that sometimes the best gift may be releasing someone from the obligation of having to buy for you. He encouraged families and friend groups to discuss this openly, noting that it is the perfect time to do so with the festive season approaching.
Lewis referenced his original blog on banning unnecessary Christmas gifts, which started the conversation. He explained that people often swap presents out of a sense of obligation, which means there is no net movement of money or goods, but it can result in mis-prioritising spending. By giving someone a present, you may make them feel they must do the same, whether they can afford it or not.
“Add to that the tit-for-literal-tat nature of giving that leaves too many with gifts unwanted or unused. My aim isn't to stop festive fun - done right, gifts create real warmth. But done wrong, they can hurt more than they help,” Lewis said.
Practical Alternatives to Gift Cards
Lewis recommends agreeing on a “No Unnecessary Present Pact” with your wider group of friends or family. He noted that most people tell him the people they broach it with often breathe a collective sigh of relief. If that approach feels too hard-core, he suggests setting a Secret Santa-style spending limit, agreeing to spend time together, making something homemade, or giving to charity instead.
Lewis also highlighted a video he made in 2023 for his show on this topic, which he still uses because it resonated widely. He described it as the most watched social clip he has ever done, with tens of millions of views. The video remains a key resource for those looking to rethink their Christmas gifting habits.
