5 Practical Money Gifts to Give this Holiday SeasonSubmitted by JMB Financial Managers on December 13th, 2017
With Christmas approaching in just a matter of weeks, you might find yourself wondering what to get your loved ones this holiday season. Luckily, I’ve got a few ideas for you.
As a financial planner, I’m a fan of the “practical” gift -- one that will be money well spent. I like to know that my gift will add value to someone’s life and be something they truly need. I’d like to share a few of my favorites with you.
1. The Gift of a Good Read
Personal finance. Do you know an avid reader that would also enjoy getting a better hold on their finances? A personal finance book might be just the thing for them. Check out: Why Didn't They Teach Me This in School? 99 Personal Money Management Principles to Live By.
Investing. How about a young investor? There is nothing better than getting someone interested and on the right financial path early in life. Check out: Get a Financial Life: Personal Finance in Your Twenties and Thirties.
Budgeting. People of all ages need a budget. A book on budgeting may be a great way to assist them in ways they didn’t know they needed. Check out: Budgeting: How to Make a Budget and Manage Your Money and Personal Finances Like a Pro.
2. A Consultation with a Professional
My personal favorite, for obvious reasons, would be gifting a session with a financial professional. This gift would be perfect for an array of age groups.
Young professionals just starting out. Assist them in understanding their income flows as well as debt in addition to helping them set short and long-term goals.
Middle-aged individuals & families. Create a financial plan or evaluate one already in place. Including retirement, insurance, and even college planning.
Retirement-aged individuals & couples. Evaluate retirement savings and plans.
Another option would be a consultation with a business coach. This is a wonderful gift for the soon to be college graduate in your life. A session with a business coach can help them get a better grasp on the type of career they would like to pursue as well as give them insights on their resume and provide helpful interview tips. A business coach can help get them on the right track for financial success.
3. Charitable Donation
One of the most thoughtful gifts you can give is a charitable donation. If you know someone who is passionately committed to a cause or organization, the perfect gift for them may be a charitable donation in their name.
4. A Savings Lesson
Depending on the age of the recipient, there are a few different ways to go about this. For small children, a physical piggy bank may be a great way to get them started saving. For older recipients, you may even consider opening savings accounts in their names. This could be a continuous way to give while simultaneously growing someone’s future funds.
5. Finance Software
Whether it be a tax software, budgeting software, or a credit monitoring program all of these are great, practical, time-saving gifts, that are sure to be appreciated.
With an array of options for a multitude of age ranges, hopefully, you found something in this list to satisfy your practical side this holiday season! If you’d like to learn more, feel free to reach out to me at today!