![\"Instead](\"http:\/\/www.cultofmoney.com\/wp-content\/uploads\/2016\/11\/financial-gifts-for-kids-199x300.jpg\")
Do you know what I hate? Spending a bunch of money on gifts that my kids play with for one week and then lose interest in. That\u2019s why these past couple of years I have put my main focus on buying practical gifts that my kids can love and appreciate.<\/p>\n
Instead of buying toys that will be tossed to the side why not give your kids a gift that will last or teach them something new? \u00a0Here are seven financial gifts for kids.<\/p>\n
If you have a college savings account or 529 opened for your child, Christmas is a great time to make an extra contribution. If your child is young they won\u2019t notice that regular gift money has instead went to their future.<\/p>\n
If your child is a little older you could write up a receipt and put in a card showing the contribution and their account balance. My kids get very excited every time I tell them how much money they have saved for college.<\/p>\n
If you\u2019re not ready to open a college savings account or would like to provide another way for your child to save, a regular savings account is always a good idea.<\/p>\n
My daughters opened up savings account with our local bank through their school and are allowed to make deposits at school every Thursday. In addition my oldest daughters puts half of any gift money she receives in the bank.<\/p>\n
For her (age 7) walking into the bank and making a deposit is better than buying a toy at the store. She feels so proud of herself and loves watching her savings add up.<\/p>\n
Opening up a savings account and contributing a little money could be a much more fun gift for your child than you could even imagine.<\/p>\n
I was 19 years old before I learned how to write a check. It was embarrassing. I wish I would\u2019ve been taught about money at a much younger age, but I wasn\u2019t.<\/p>\n
When my kids get a little older they\u2019ll both have checking accounts so that they can learn how money works. If you have a teenager a great gift would be a checking account with a little money in it and lessons on how to use a debit card, write a check and balance a checkbook.<\/p>\n
Everything I learned about money I was first taught through a book. Personal finance books, even for little ones, can be a great learning tool.<\/p>\n
Don\u2019t worry you don\u2019t need to get your child a copy of The Total Money Makeover<\/em> (unless they\u2019re older and you think they\u2019d be into it!) Books on things like gratitude, giving and math skills can work.<\/p>\n If you don\u2019t like the idea of opening up accounts fear not, there are still many toys you can buy that will be beneficial. Here a few ideas:<\/p>\n When I was a kid my grandmas got me and my brothers Savings Bonds for our birthdays. (Unfortunately, we ended up cashing them all out as teenagers.) Nevertheless, Savings Bonds can be great gifts for kids and teach about interest.<\/p>\n Last but not least there\u2019s good ole cash.<\/p>\n# 5 \u2013 Toys that Teach<\/h2>\n
\n
# 6 \u2013 Savings Bond<\/h2>\n
# 7 \u2013 Cash<\/h2>\n