As the holiday season approaches, consider celebrating the season while teaching loved ones a lesson on finances and money. These educational gift ideas can even help to establish good money habits for the future.
Consider the following ideas:
- Buy a small Certificate of Deposit (CD) and watch with your child as interest grows over time; Buy a real piggy bank and match a portion of what your young child contributes from an allowance;
- Introduce your child to stocks and then buy a few shares of a company that they know of, such as a favorite game or restaurant they enjoy;
- Open an IRA for your children with part-time jobs and match their contributions. Then you can illustrate how a dollar (or more) can grow over many years.