With high unemployment rates and economic uncertainty on the minds of so many American consumers, many are looking for ways curb their gift spending this year. In a recent survey by TD Bank, 64% of those polled say they plan to purchase gift cards this year.

“With the majority of consumers looking to spend the same as last year, gift cards are a perfect option to keep holiday spending in check,” said Nandita Bakhshi, Executive Vice President, Head of Products, TD Bank. “Giving a gift card reduces shopping stress, you spend exactly what you intend to, and are less likely to get caught up in the season and spend more money than planned.”

In addition to helping consumers better control their holiday spending, gift cards also ensure that recipients get what they really need. Indeed, 51% of those polled said they would actually want to receive gift cards. This may be less related to people trying to avoid receiving unwanted gifts, and more an issue of managing household finances. Of those polled, 31% said they use gift cards they received on day-to-day expenses and 11% would use them on household and living expenses. This is very much a reflection of the financial difficulties many families face today. Imagine giving an expensive bottle of perfume or a video player to someone that is having trouble paying for their basic necessities. Giving such gifts could be seen as insensitive to their financial difficulties. Instead allowing them to choose how to use the money is a great way to bring them holiday cheer and possibly improving their financial situations.

If you feel that a gift card is just not intimate enough or does not have any sentimental value, there are ways to compensate. Consider writing a thoughtful note or throwing in the recipient’s favorite snack. The idea is not to take the fun or meaning out of holiday gift giving, but rather to be more practical and considerate. And at the end of the day, everyone will be better off.