I’ve become intentional about using holidays and birthdays as opportunities to give my loved ones' children a jumpstart on understanding and building wealth. From small acts like gifting a preteen their first wallet (with a little monetary surprise inside) to larger commitments like establishing or contributing to a 529 college savings plan, there are plenty of ways to spend your money on a gift that will last for more than a moment.
When in doubt, consider speaking with a banking specialist or trusted financial advisor who can educate you on the best financial products and offerings.The last thing the young adult in your life needs is more stuff that will take up space in their dorm room or apartment. Now that my daughter is a college freshman at Penn State, gift giving this year will be focused more on need than simple pleasures—like a few extra bucks on her LionCard.
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