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  • Writer's picturePanna Bhandari

Smart Financial Gifts to Give This Holiday Season

20 Oct 2021

For those of you who know me, I love Finance, and I love giving (and of course receiving) presents! So here is my list of 10 thoughtful financial gifts for your loved ones:

1. Book: The Psychology of Money

In this book, Morgan Housel delves into the psychology behind our financial decisions. He talks about how we approach money as irrational, impulsive and emotional beings, not based on technical skills, economic analyses, or investment rules. The book had many "Aha!" moments for me. However, it's a light read, fun for even non-finance people. Order it on Amazon.

2. Gifts that Grow

Stocks and Mutual Funds are gifts that keep on giving. They are ideal for recipients who have a long investment horizon. You can gift stocks on Zerodha or for other stockbrokers; read here. Or chat with me on Whatsapp if you have further questions.

3. A Cash Envelope

A cash envelope never goes out of style! Admit it, whenever you receive an envelope of money, no matter how much, it always feels good and exciting! The first thing I think of when I open a cash envelope is what I'm going to buy with it! Contrary to popular belief, financial advisors do encourage you to spend your money too!

4. Life Insurance for Couples

You might hesitate to gift Insurance Policies as a wedding gift because they relate to very unpleasant circumstances in life. But it can be the most sincere gift that you give a young couple to protect their future. You can choose to pay the first year's premium, and they can take care of the renewals in the following years. Alternatively, you can pay the entire premium in one go if you think the couple might discontinue the policy after a few years.

5. Pay Off Liabilities

If you know of a kid or an employee who has student/home/other loans, making a one-time contribution toward paying back some of the principal on their loan can be a long-term blessing. For them, it could be an unforgettable gift!

6. Bitcoin

You can love it, you can hate it, but you can't ignore it. So if someone you know might enjoy dabbling in an alternate asset class, think about gifting them some Bitcoin. Get started here. It's a very cool present!

7. A Paid Session with a Financial Advisor

It is an ideal present for people who hate thinking about their finances. Few find the thought of managing their money so stressful that they largely avoid or procrastinate it. This present is a great choice to get them started and help them relax around the entire concept. Whatsapp me to schedule a session.

8. Gold or Silver

With inflation being 'transitory' for almost a full year now, it's a great time to gift some hard assets that act as a great store of value over time instead of depreciating fiat currencies. Plus, shiny gifts are the best!

9. Credit Card

If you want to go all-in with a present, gift a close family member a Credit Card. This would ideally be issued as a second card from your personal savings account.

I received one from my dad for my 23rd Birthday, and there is no better gift than the freedom to buy any gift that I want! Trust me; I was over the moon when I got it! Of course, this option is limited to either your spouse, children or parents. But your family deserves everything :).

10. Donate to a Charity

I received this present last year from a very dear friend, and it truly is one of the most beautiful presents I have ever received. If you want to do some good, donate to a charity of your choosing for a loved one. Akshay Patra Foundation lets you do this very easily. Follow the steps here.

Disclaimer: Please check the tax implications of all such gifts with your CA. We also encourage you to consider making a gift deed wherever needed. The above article is not investment advice.


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