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Top 5 Financial Gifts to Give This Christmas
Words Elizabeth Boampong
A financial gift is an excellent choice for your loved ones at any time of the year, but it becomes even more valuable when given during the festive season - a time where money tends to go rather than come.
The beauty behind financial gifts is that they are the gift that keeps on giving, so here are some of the best ways you can gift your family and friends this Christmas:
Cryptocurrency
Whether you understand the difference between meme coins and stablecoins or you’re still struggling to come to grips with the whole concept of a bitcoin, there’s only one thing you really need to know: cryptocurrencies tend to appreciate in value. Although I’m not giving any financial advice, acquiring some cryptocurrency onto a digital wallet is a gift that bares great potential and endless possibilities.
Junior ISA’s
Another great way to celebrate the holiday season is to open a Junior ISA account on behalf of your child. Not only will your child benefit from the tax-free, ever accumulating monies saved but once they reach the age of 16, they have the opportunity to learn how to manage those finances before gaining access to withdraw at 18. It’s financial literacy 101!
If you have a business, offer a discounted service
For our entrepreneurial women, Christmas may actually be your busiest period as people are purchasing gifts from you. What better way to give with festive cheer than to give back to your own business by doubling your clientele. Choose your most popular service and offer it up at 50% off, exclusively for those that can encourage a new client to purchase a service. It’s a win-win.
Stocks
Be unique this Christmas and choose stocks over stockings! When choosing which stock to buy, consider the recipient's hobbies and interests, find a company operating within that area then do some research to figure out whether that company has a decent chance of appreciating in value. Shares within a comany can also be gifted through brokerage accounts and online apps so whichever works for you, you have the options available.
Financial Planning
Lastly, the gifting season is always a good opportunity to clear out the clutter; out with the old and in with the new. You may have pre-loved items laying around that you could either sell or pawn on behalf of someone else for the monetary benefit. Alternatively, you may have something slightly more valuable i.e. a watch which appreciates over time. This can be placed aside as an investment into the future or business of an individual and agree the amount of time left for the item to appreciate before being handed over. Financial gifts are strategic gifts. When given with care, they can open up a plethora of benefits in the coming years for the recipient so when choosing your gifts this Christmas, ask yourself this question: what will this look like 5 years?