I hate to say it, but it’s true. Halloween is next week, and the minute those orange pumpkins go on clearance, up come the Christmas decorations. I have to say, it weirds me out every November 1st to get in the car, flip on the radio, and hear Christmas carols. Really? On November 1st?
The point is, the holiday season is bearing down on us, and we might be wondering what to get for a specific individual. I’d like to make some suggestions revolving around money.
No, I’m not talking about putting a twenty in an envelope and handing it over, although that’s always appreciated. I’m talking about money that will continue to give long after the holiday season. If you give someone a twenty, they’ll spend it the next day, probably on something they don’t need and will gather dust. What about a gift of money that has some lasting value?
1. Give silver or gold. These precious metals are an investment, and the value will increase over time. You might spend twenty dollars for it today, but who knows what it might be worth down the road.
2. What about a stock or a bond? Obviously, if you’re giving a gift, you want to choose a stock that is somewhat secure—I would not be buying Netflix stock right now, I’ll tell you that. But there are stocks that will always do well—who doesn’t love Kraft?—and bonds are a great way to save money for the future.
3. What about setting up a savings account for that person? If they’re an adult, you’ll probably need to take them with you to set it up. If they’re a minor and you’re not their parent, you might need to get their parent in on it, for signatures and whatnot, but there are ways. Putting a sum of money, even a small amount, in a savings account with interest is another way of planning for the future.
If you’re interested in giving a gift that will have lasting value, think along these lines. Of course, these gifts aren’t as neat as an iPad or a huge Lego set, and you’ll probably want to weigh your options before purchasing (if little Johnny has his heart set on a Transformer, that might be a better choice for this year) but there are so many ways to give a gift with lasting value. Just mull it over. Let’s see, the season starts in just over a week … better mull fast.
Related Blogs:
Ways to Save: Low-risk Mutual Funds
Ways to Save: Investing in Real Estate