Gift-giving can often be tricky. Sometimes you may luck out any happen across something that you know the person you’re gifting will love, while at other times you may end up scratching your head for hours and still not know what to get them.
One often overlooked option when it comes to gifts is to give them a financial gift of sorts. In particular, there are a few different types of these gifts that could help them out tremendously:
Financial planning books
Let’s face it, most people aren’t great at financial planning and giving them a helping hand is going to be invaluable. There are numerous financial planning books as well as advisory books that could be the right fit in this regard, and depending on the person you’re gifting you should be able to select one that suits them.
Small investments or shares in recognizable companies
For children and young adults in particular (and sometimes others too), purchasing small investments in companies that they can associate with (such as Disney) can give them a fun introduction to investing and foster an interest in it. Because it is a recognizable company they’re more likely to appreciate its value, and may even decide to build on it.
Sometimes what people need isn’t exactly financial advice per se, but rather the inspiration to follow through on their financial plan and goals. If that’s the case then there are quite a few inspirational books nowadays with a financial planning slant that may be better than normal financial planning books – and may help them take action.
When giving financial gifts of any type, the most important thing is to try to make sure they’re suited to the person that you’re gifting. For example if you know they’re considering a bill consolidation loan then handing them a resource that lets them make an informed decision might be the best choice.
On the other hand if they’re already in a financially secure position and have a healthy balance then resources that could help them explore new financial opportunities and plan for the future might be better.
At the end of the day, financial gifts are a nice and productivity-oriented gift that can help people out tremendously in certain situations. In short, these gifts are really the kind of gifts that keep on giving.
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