Tis’ the season for new beginnings! And what better way to celebrate the spirit of Christmas than gifting your loved ones with financial security? Sure, those big boxes wrapped in colorful papers add excitement to the festive aura. But, given the unexpected two years of lockdown we’ve survived – it’s time to switch things up a notch.
It’s easy to spend money on expensive (but unnecessary) things that bring out the best of temporary happiness. However, this holiday season, ditch the usual and gift your loved ones with assets that will help strengthen their finances
Today, you have many financial gifting options available to choose from, pointing to the question – which one is the best fit for you and your loved ones? Here, for starters, your gift choice will depend on the person you’re thinking of – is it your spouse/children/yourself? How old are they? Are they your dependents? What is the purpose of the gift?
So, here’s shortlisting three gifts to consider giving your loved ones this festive season.
1. A Security Blanket For Your Loved Ones
Christmas marks the start of new beginnings. So, why not gift yourself and your family the comfort of financial support to deal with life’s uncertain challenges? Further, can we agree that health care is becoming expensive with time? Whether it is a regular check-up or an everyday medicinal purchase, inflation is working its influence on our bank balances significantly.
While you and I cannot avoid the uncertainty, we can surely be prepared to face it better. So here, I recommend buying life insurance for yourself (with the critical illness cover). I understand that paying premiums might not sound like your favourite activity to do in the coming years. Still, when times might become tough, this insurance fund will shield your family from life’s monetary stress and allow them to restart fresh
2. The Gift Of Knowledge
Festivals bring together family, friends, and loved ones to celebrate life! So, whether you’re concerned for your younger siblings, children, or other family members futures’ – this holiday season, make them financially literate through unique gifting alternatives.
For instance, gift them books about real-life case studies, investing tips, and ways to plan for a secure future. Share your favourite finance blogs and initiate dialogues that encourage them to read such content. Or sign them up for a value-packed finance magazine subscription. Alternatively, sign up yourself and your family for a consultation call with a financial advisor to understand ways to manage your hard-earned money for a better tomorrow.
Further, take a step ahead. Give your loved ones a solid start by opening a savings account/trading account in their name. Gift them a minimum starting amount. Then, encourage them to save a portion of their income every month and manage their account to get hands-on investing experience.
With a hassle-free process available at your service, gift your loved ones the art of savings and the opportunity to grow their wealth through banks’ attractive interest rates prevailing in the market today
3. Make Investments For Your Family’s Quality
The holiday season is a great time to reflect on the year and plan for a promising future. Financial experts highly recommend everyone dip a portion of their funds into the investing world. Depending on your goals – start a Systematic Investment Plan (SIP) in your loved ones’ names and take the plunge for gifting them a livable future
Mutual funds are subject to market risks. Yet, this rewarding asset is a rising favourite among investors from all expertise – beginners and experienced. So, activate your research horns and shortlist the best fund houses to trust your money with. These experts do the groundwork run for you and invest your money in different asset classes with the goal of earning you profits
Mark New Beginnings With Sound Decisions & Actions
I know that these financial gifts might not initially make it to your dinner table discussions. Neither will they make for the perfect post-card photo of your tree and light stands. But the value these gifts will add to your and your loved ones’ lives will remain unmatched with worldly pleasures in the long run.
We can’t predict what will happen tomorrow. Still, these gifts provide an avenue to build a better and more comfortable life for people around you. Keeping festive feels high, consider this auspicious time ideal to gift a secure life to people important in your life.
This, of course, is possible with a dual combination of making sound decisions and practicing wise actions. For instance, if you have pending mortgages – push them up in your priority list and clear them off to keep financial stress away from your family.
Further, if you’re looking for help to move forward in this gifting direction, book a consultation call with me. I will help you explore the very-merry gifting options in the UAE that bring a smile to your loved one’s faces (and bundle up their bank balances). Until then, Merry Christmas!