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Last Updated on January 5, 2024 by Chris Panteli
Want to go beyond the typical candies and clothing gifts this holiday season? Well, here are some ways to offer your loved ones a gift that keeps giving.
If your loved one has ever shown interest in investments, consider gifting them a beginner’s course, suggests Laura Turner, founder of Thrifty Londoner. For example, the Female Invest membership is an educational resource tailored for women, offering in-depth courses and bite-sized lessons on investing, she adds.
For loved ones already familiar with the basics of investing, consider gifting stocks or shares in a promising company, suggests Jon Morgan, CEO of Venture Smarter. “It’s a unique and lasting present that can potentially grow over time.”
He suggests looking for companies with a solid track record and growth potential. Or, you could just ask them if they have a specific one in mind!
If choosing a stock seems daunting, consider adding funds to their investment account, says Bryan Clayton, a self-made millionaire at 27 and now the CEO and co-founder of GreenPal. During the holiday season, he adds $500 to his nephew’s Robinhood account and they compare how their investments perform each month.
“This not only makes a great present but also teaches valuable lessons about investing and financial growth in a fun and engaging way,” he says. “This approach to gifting can spark an interest in finance and investing that could benefit them for a lifetime.”
Supporting someone’s journey toward financial literacy can have huge payoffs in the long run.
“While it may not be flashy, you can make an impact in people’s lives by gifting them education and support,” says Jay Zigmont, CFP® and founder of Childfree Wealth. “It can be as simple as giving them a copy of your favorite book, such as The Simple Path to Wealth, or as complex as buying them time with a certified financial planner to work through their finances.”
For example, his company offers monthly subscriptions where people buy their family members or friends 3-6 months of planning to get their finances in shape. “Your loved ones still have to agree to the planning process, but you can pay the bill,” he says.
Another way of funding someone’s financial education is to gift them subscriptions to finance publications and digital tools. Consider getting them a subscription to budgeting tools like You Need a Budget (YNAB), or financial publications like The Wall Street Journal.
Retirement fund contributions
A simple but effective gift could be contributing to your loved ones’ retirement fund. “Helping someone secure their financial future is a gesture that lasts a lifetime,” Morgan says. “You can contribute to their individual retirement account (IRA) and they’ll thank you down the road when they see those investments grow.”
If you’d like to extend the spirit of giving beyond your family and friends, consider getting your loved ones something like the Daffy digital charity gift card which lets you donate to the recipient’s charity of choice.
The service lets you set money aside, watch it grow tax-free, and donate to over 1.5+ million charities in the US, says Adam Nash, co-founder and CEO of Daffy. “It’s not just about sending gifts; it’s about creating a deeper connection with the people in your life, learning more about their values, and discovering even more worthy organizations to support.”
This is the kind of gift that leaves a lasting impact on both the recipient and the supported charities, he adds.
Funding financial plans
A practical gift for your loved ones could be funding their long-term financial plans like consulting with lawyers for estate planning, Zigmont suggests. “You can pay for your family members or friends to get their wills and power of attorney documents done at a place like Trust and Will.”
Physical books and planners
If you want something simple yet useful outside of digital tools, consider physical books and budget planners. For books, you can choose a title that helped you on your finance journey, or pick up something you know might help their current circumstances (like a book about debt or saving for college).
For planners, you can opt for something general like bullet journals or fancy, customizable options like this Papier finance planner that Turner recommends.