Hogan weighed in on the trend of Americans wanting cash or payments toward their loans instead of a typical gift.
“I think it goes to show the financial situation of most Americans right now,” he said. “People are up to their eyeballs in debt, and they understand that getting a payment that they could use toward debt would actually be a gift of relief for them financially.”
Hogan said if you don’t have much money, giving “the gift of time” is a great alternative.
“You could cook a meal for someone or watch their children or run an errand,” Hogan said. “That has intrinsic and real value.”