With the festive season around the corner, you may already have started shopping for gifts. There are so many toys and other trinkets we can give our kids; some last a few days or weeks before they break, and others are discarded in favour of something new.
Why not include some gifts that will be treasured long after the festive season has ended, or maybe even a gift that teaches a valuable life lesson?
Here are some ideas we came up with:
1. Playing the Spending Spree game on twinkl.co.za:
It can be downloaded, printed, and laminated, and played by the whole family. It teaches kids how to add and subtract when working with money. The site also has some printable imitation banknotes that can make the game more realistic.
When you sign up, the first 30 days are free, but you’ll need to commit to a very reasonable membership fee, and you can access many other educational games as well.See the game here >
2. Open a tax-free savings account for your child:
Open a tax-free savings account for your child with an app like Stash for Kids. Add a small amount every day and top up at the end of the month if you want to, from as little as R10.
You can also open up a tax-free savings account at your bank or with one of the unit trust providers. Get professional advice if you’re unsure which route to follow.
3. Purchase a Krugerrand, which makes a wonderful long-term gift, if your budget allows:
Prices have increased significantly over the years, making it a great investment. A Krugerrand cost around R14,200 10 years ago and can be sold today for around R36,000. Imagine what it will be worth in another 10 years?
If a whole Krugerrand is a bit above your budget, buying a 1/10 oz coin is also a smart move. In 2013, you would have paid R1,750 for a coin, and it can now be sold for around R3,450. Krugerrands can be bought and sold through one of the many reputable dealers, such as Cape Gold Coin Exchange (krugerrandsa.co.za) or MrK (mrk.co.za).
4. Let them learn about money through books:
5. Give your kids a cash gift, and use this to lay the foundation for healthy money habits later in life.
Show them how to allocate this money between spending, saving, and charity. You could decorate and label three glass jars and wrap them up as a gift, or you could give them colourful savings banks tailor-made for this, such as these HERE.
6. Experiences are really special, so why not give your child a gift that will create treasured memories?
The type of experience will be age-dependent, and numerous websites offer ideas for gifting experiences. It doesn’t have to be anything too fancy or expensive, though. Think about what your child enjoys doing.
Give them a gift card for an indoor playpark, ten-pin bowling, or even a meal at their favourite family restaurant or pizza place. Be creative and think outside the box; this is a time to treat them to something special.
(This article was written by Sylvia Walker, financial planner, speaker, and author of smartwoman. www.sylviawalker.co.za)
Moms – do you have any other ideas for similar gifts you have given in the past, or are giving this year?
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