You might not be able to predict and procure this season’s hottest new toy or game, but you can rely on one, perennial present choice: cash. Gifting money to children on their birthday, at Christmas, in return for good behaviour or for outstanding grades is a great way to show your appreciation.
Children appreciate the flexibility of money, since they can buy something they truly want, or to put towards saving for a bigger purchase. Money gifts can help when it comes to teaching children about money.
Teaching children about money is an important task, and research indicates that good personal finance skills are best established young.
However, you may wonder how much to give, when to give it, and how other siblings or adults will react to your cash gift.
You also might worry about the best, safest, and most effective way to get that money over to the child in question.
Don’t worry, we’ve got you covered. If your son, daughter, niece, nephew, grandchildren, godchildren or, indeed, any young gift recipient on your list, you can gift money to them simply and easily. Here’s what you need to think about…