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Are you looking for ideas for personal finance gifts for someone in your life?
Whether it’s for the finance nerd in your life or you’re looking for financial gifts for babies, below are some of the best finance gifts.
Personal Finance Books
A book is always a good gift. Especially one that can change the trajectory of your life.
Personal finance books can do just that for people learning how to manage their finances.
Your Money or Your Life by Vicki Robin and Joe Dominguez
Recommended by Oprah among countless others, this is a great read for looking at your relationship with money.
This book is all about the argument for pursuing financial independence and how to do it.
If you know someone who is looking for more information on financial independence or just early on in their financial journey, this a great read.
The Millionaire Next Door by Thomas Stanley and William Danko
If you’re not a millionaire, you may think that it’s this impossible and unattainable status.
However, this is far from the truth.
There are millionaires everywhere who simply reached their status by following a few common principles.
The writers of this book found these “Surprising Secrets of America’s Wealthy” through profiling millionaires throughout America.
A great read for anyone starting their financial journey or has a habit of buying to make sure they are apart of the in-group.
Rich Dad Poor Dad by Robert Kiyosaki
Another book that focuses on the myth that you have to make more money to become wealthy.
Rich Dad Poor Dad is about the author’s journey learning about money and how people think differently about money.
He talks about how his father and his friend’s father thought differently about money and how this thinking influenced the way that he thought about money.
If you’re shopping for someone who is just learning about money, this is a great read to get them thinking about how they should think about money.
Money Management System
Figuring out how to manage your money is one of the most difficult parts of finance.
So, why not give the gift of a money management system that helps that someone in your life organize their financial information from accounts and expenses to investing and debts.
We love to use Moneyspire because it’s a downloadable program for our computer that also has an app.
It gives us a lot more control over how we manage our budget and track our spending.
Moneyspire also has the capability to organize and track your debts and investments.
Savings Bond
Did you know that you can give the gift of a US Treasury Savings Bond?
At Treasury Direct, you can invest in savings bonds and give them as gifts to your friends and family.
This is a great alternative to just giving cash because it appreciates in value, shows the benefit of saving and the benefit of investing.
We love this gift for children because all of the aforementioned benefits plus you can get a physical copy of the bond.
Gift Stock in a Company
Another great way to get someone interested in investing is to purchase shares of a company.
Check out a few of the different ways you can give stock as a gift.
You can even give physical stock certificates which are great for kids.
It’s something they can put on the wall and inspires them to save and invest money.
Something to Pay Forward
If you are getting a gift for someone who likes to pay it forward, you should check out Kiva.
Kiva is an international nonprofit that sources crowdfunding through loans for underserved and underbanked people around the world.
Basically, you can lend your money to small business owners around the world who don’t have access to traditional funding.
This is a great gift idea for someone who likes to donate money to charities because not only do they get to find small business owners in need but they can reuse the money time after time, lending to new people around the world.
Contribution to Retirement Account
Although there isn’t a great physical representation, contributing to a retirement account is a great way to help out your friends and family.
Saving for retirement is often the last thought when it comes to money.
After spending on expenses and paying off debt there might just not be any money left.
This is a great way to help that person in your life in the future by giving them this gift right now.
It also beats cash if you want to be more thoughtful about the gift.
Cash for a Home Down Payment
Is the person you’re shopping for saving for a house?
Down payments are big and usually pretty tough to save for because of the amount of money.
Why not help them buy their new home?
You could even put the money in something like a brick or fake rock that they’ll eventually put at their house.
Contribution to Education Account
Education is expensive.
With a 529 plan, you can save money to pay for some or all of those expenses.
If you’re shopping for children, you could help to fund their future education through a contribution to a 529 plan.
You could even create the plan for the child which will help the parents too. Another gift.
Precious Metals
If you’re shopping for someone who is always worrying about impending doom or maybe just wants a diversified portfolio, you could buy them a precious metal.
Whether it’s collectible gold coins or a pure metal piece of jewelry, there are different options out there for you to purchase.
You can choose something they could collect like coins or something they’ll wear and use like a necklace, bracelet or rind.
Gift Cards for Favorite Places
Gift cards can get a bad rap because it seems like you didn’t put much thought into the gift.
However, gift cards are actually great personal finance gifts.
Think about it this way.
Where is somewhere that person always shops or spends money?
They are likely budgeting to spend money there so you could help them save some money by relieving some budget pressure.
If they allocate $30 for coffee every month, buy them a month of coffee so they can save their money instead.
Final Thoughts
You probably didn’t realize there were this many options for personal finance gifts.
Hopefully, a few of these options are the perfect gift for that special someone in your life.
The hard part is figuring out which one they might like most versus what might be the most beneficial.
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