It has become old-fashioned to buy kitchen crockery, home decors and other materialistic gifts to your dear ones on special occasions. Let’s change the trend by offering them intangible gifts.
Gifts for little ones
- Kids might be bored to receive those fluffy soft toys, electronic toys and remote cars on their birthdays and special occasions. Gift them a unique box with a Hundred rupee note. Make a note on it to increase it by 10 % in a month. When the kid reaches a particular target around 1000 rupees, give 10% of a bonus as appreciation for his/ her savings. The main motto of gifting this is to encourage savings.
- For every festive and special occasion, it’s common to get cash gifts for children. Now it’s time to convert them to invest them. Create a savings account in the child’s name and gift them. Ask them to deposit the cash gifts in this saving account. Once, it crosses a particular limit it can be invested in mutual funds or withdrawn. It creates awareness to children about savings and investments.
- There were days when we gift children the most exciting business game set. It’s time to play this game practically. It makes them understand the value of money, buying assets, spending less, saving more and investing. On a special occasion, they can start learning money management lessons.
- Start a mutual fund Systematic Investment Plan in the name of the child by putting some money for the very first month. It’s their turn to pay at regular intervals.
Gifts for loved ones
- It feels much better when you promise your loved ones that you are gifting an assured lifestyle for a lifetime. Today that you are earning you can provide a comfortable lifestyle to your family but what happens to you or are retired? To maintain the same peaceful lifestyle, you need to follow a detailed retirement plan such as comprehensive retirement plans and pure term insurance plans. Gift something that is assured.
- Instead of gifting gold coins or gold items, gift them Gold ETF’s as they are easy to buy and sell. The best part is no need to worry about safeguarding them.
Gifts for parents
- Gift them an investment option that acts as a monthly income in their second innings. You can get monthly income by investing FDs, POMIS, mutual fund MIPs. This extra cash flow of your investment will make their life more cheerful at old age.
- Paying medical bills in the old age cannot be prevented and is the most common expenditure. There are insurance companies who are ready to cover senior citizens with an extra premium and co-payment options. Gift them a mediclaim policy which is beneficial during old age.
Gifts for maids
- Gifting a mediclaim policy will be the most beautiful gift to maids on a special occasion. That will be helpful when you pay the premium on behalf of them. You can add accidental insurance to mediclaim policy for the bread earner of the maid’s family. Gifting something like this makes them feel happy and secured.
Gifts for friends
- Gifting your friends and colleagues ecards on special occasions may not be interesting. Share them any useful e-books or articles regarding finance. It makes them aware of savings and insurance policies.
Gifts for others
- Instead of gifting materialistic presents such as home decors, kitchen crockery and other articles gift them a bluechip company shares. It is a gift people will not sell them immediately. This single share can turn into profits one day.