Cash & care: When monetary gifts elicit gratitude

Money is often, but not always, considered an inappropriate gift. By considering recent insights in the social function of gratitude, we argue that the acceptability of money relies upon its capacity to evoke gratitude through conveying relational concerns. Study 1 (N = 240, US participants) revealed that monetary gifts are generally perceived as less acceptable and evoke less gratitude than non-monetary gifts of equivalent value. Furthermore, when monetary gifts were designated as specific gift coupons, they evoked more gratitude and were more acceptable. Study 2 (N = 471, Chinese participants) revealed that 520 RMB cash, symbolizing love in China, elicits increased gratitude and was therefore considered a favorable gift compared to similar amounts without such connotations. Taken together, we identify gratitude as the psychological mechanism underlying the acceptability of money and advocate for the recognition of monetary gifts with broader social, cultural, and psychological implications.