You might have bought many toys for your kid. A toy is a great learning experience, but it does not last. How many of the toys your parents gave you have you been able to preserve? None, I guess. However, you might still have the first financial gift – the traditional piggy bank. Am I right?
Giving financial gifts to children is the new trend in these times of change. It is not only long term but also makes them learn finance which will help them in the future. Here are a few financial gifts you can give to your children.
This is the traditional gift. I have all the piggy banks form childhood, and believe me I could pay my first semester fees of my Management degree from the savings. It instills a saving habit from an early age which is a great help later.
There are many options available for you to buy. There are piggy banks which have separate compartments for coins and notes, and also piggy banks which can tell you how much money it contains. It is a fun way to save and learn the basics of money management.
A game that teaches you how to buy and sell profitably. I got this gift on my 12th birthday and boy I loved it. I used to play for hours and the lessons that I got helped me greatly when I started my real estate business. The game is a great learning tool.
Make sure to get this game and give it to your child. It will help the kid learn basic financial tricks without much effort.
It is a pure financial gift. Just buy a bond which matures at an important stage of your child’s life. It can be for paying the college expenses, or buying his first car. I am sure they will love this gift.
Stocks in a famous company
This is a gift for your teenager kids. Buy a few stocks in a famous blue chip company. Then make them learn how to trade online and understand the work of a broker. It will help them learn the basics of the vocabulary used in the stock market.
It may go a long way in your child becoming a smart investor. So, go ahead and make them learn the tricks!
Education Insurance plans
This is also a great gift for the child, in the age where cost of education is growing every year. The right insurance policy will aid their education which will help them be independent financially.
Try these simple financial gifts for the next birthday of your children. It is a great way to educate them, and introduce to them the habit of saving money. They may like it!
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