If you’re wondering about the best financial gifts for kids, then join the crowd. Many people want to give their children a chance to succeed in life, but they are not very sure about how to give money gifts to help.
Other questions people ask include:
- What are the best financial presents for babies?
- What are good investment gift ideas?
- How can I give financial gifts to my grandchildren?
- What is the best investment gifts for one-year-olds?
- What are good money gifts for baby showers?
If you want to make a difference in the lives of the kids in your life, consider getting them a financial gift.
Financial gifts are a fun and creative way to teach your kids, grandkids, nieces and nephews, or any other children in your life about money. For a fun gift that keeps on giving, try one or more of the financial gifts for kids below:
Do you ever notice how kids love to see you use your debit card? I can bet that every time you check out at the store, they want to swipe your card and press the buttons too. If that sounds like your kids, it can be a good idea to get them their own debit card to practice with.
Through a fun app called FamZoo, you can give your kids their own prepaid debit cards that you set the rules for. This is an excellent way to teach kids good spending habits without any risk of overdraft fees or overspending. Check out a full Famzoo review here.
2) Something that will grow
Did you know you can purchase investments like stocks and savings bonds for kids? You can open a free brokerage account with companies like Ally Invest and start purchasing stock in some of your kid’s favorite companies. You can even purchase fractional shares of stocks with the popular app called Stock Pile (<—-$5 credit) If you’re not sure how to start investing, here is a free eBook to get your going: Start Investing Now.
You can also give U.S. Treasury bonds as gifts. Many grandparents especially start the tradition of giving out a savings bond for each grandchild’s holidays and birthdays. When the child is old enough to cash them in, they’ve earned some interest on their investment. You can learn more about purchasing a savings bond at U.S. Treasury website.
3) Something to launch their business
Is your child already showing signs of entrepreneurship? Reward their creativity with something to help them start (or grow) a small business.
There are lots of ways that kids can make money and learn about having a business at a young age. Some gift examples could be:
- Money to start a blog
- A fancy lighting kit or professional camera for their Youtube channel
- A bracelet making kit
- A 3D printer to make and sell custom widgets
- Business books like: $100 Start-up, Rich Dad, Poor Dad or Automatic Millionaire
There are lots of business-building gifts for any hobby your child is into. Brainstorm ways to show them building a business is fun!
Who doesn’t love to open up a Christmas card and see some money tucked in there? Well, kids are no exception–in fact, they may get even more excited about cash than the adults!
You can use cash as a gift-giving tool to teach kids about money, too. Break it down into small bills and give them some to save, some to spend, and some to give away. If you already do this with a weekly allowance, this would be a fun way to explain the concept of a “bonus” to your kids.
5) Money towards a goal
Has your child been talking about a big field trip coming up at school? Instead of just giving them the cash, consider helping them save up for it themselves. This will show them the value of money, and help them make good choices when it comes time to visit the gift shop or the food court.
To make saving for a goal extra fun, you and your child can set up a Goalsetter account online. It’s like a “GoFundMe” that’s just for kids. You create a savings goal online together and contribute through automatic transfers or gifts from others. When people ask what they want for Christmas, they can ask for a “goal card” (vs. gift cards) and watch their goals become reality.
What are your favorite financial gifts for kids?
With a little creativity, you can teach the kids in your life about money and give them a great gift at the same time. With everything from cash to investments, to business-building gifts and debit cards, there is a great financial gift for every child in your life!
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