We all have different gifting styles.
What about gifts for children?
There are a couple of different approaches to helping teach the children in your life about managing money.
Giving kids physical money
Remember what it felt like to receive money as a child?
A little bit of cash can go a long way in making a young giftee excited.
Plus, familiarizing children with money can help them learn how to spend and save responsibly.
While your giftee may not fully appreciate it right now, it’ll be plenty important down the road.
Such a gift can be used to teach a kid about the importance of self-investment via education.
There are several ways to approach making a 529 gift contribution for a minor.
you might open 529 accounts with most financial institutions, including Fidelity, Schwab and Vanguard.
You have a few options to give stocks to kids.
When the child turns 18, they then gain control of the account.
While Coinbase also has a gifting feature, it no longer allows users under the age of 18.
Another option is to gift ahardware wallet, perhaps with some crypto already stored on it.
This is a more secure way to store cryptocurrency, but may require a little extra instruction.
Giving kids gift cards
Some folks prefer to give gift cards over cash for multiple reasons.
Sometimes cash isn’t appropriate, or it’s too impersonal.
Gift cards can be bought for specific retailers and offer a more structured approach to spending.
