


I know they’re not as much fun as video games, toys and dolls, but there’s a place for gifts that can have a great financial impact on children for years to come.
Whether it’s board games like Monopoly, books with money morals, shares of stock or a boost to a college savings account, there are plenty of presents to consider that make perfect dollars and sense.
Financially beneficial gifts are perhaps more prudent now than ever. The prolonged pandemic has caused many families to reassess their finances, pare their spending and think less about material things. Why not carry over those feelings to gifts for the kids that won’t collect dust in the toy bin and might even teach them a thing or two about handling money?
In that spirit, I’ve compiled some favorites to fire up your shopping for the kids or grandkids.
Banks
If you have young children, you can’t go wrong with a piggy bank stuffed with coins or crisp dollar bills.
There are plenty of choices: A Google search turned up thousands, including a “Monkey Up a Tree” mechanical bank, a stash your cash bank made of pine wood, and a “Maze Bank” that is part bank, part puzzle. For something right on point, Money Savvy Generation features its award-winning plastic piggy bank with four slots for saving, spending, donating and investing.
Books
Thinking of books? Consider several in the Berenstain Bears series that teach youngsters about the importance of being responsible with money, such as “Trouble With Money” and “Dollars and Sense.”
For teenagers, brothers David and Tom Gardner, the creators of the Motley Fool investment website, offer “The Motley Fool Investment Guide for Teens.” Two other titles for teens are “The Official Money Guide for Teenagers,” written by Money Savvy Generation founders Susan and Michael Beacham, and “Bad with Money” by Gaby Dunn.
Games
While Monopoly, The Game of Life and Payday have taught generations of kids about money, careers and business, there are other worthy options.
Financial adviser Dave Ramsey has created Act Your Wage!, a board game that teaches money principles for children 10 and up. Another option is The Stock Exchange Game, which allows fledgling investors to buy and sell stock and make acquisitions and mergers.
Or, for a good card game, try Exact Change, which aims to develop math skills for youngsters ages 7 and up.
Paying for college
For grandparents and other family members who want to help cover college tuition down the road, one of the easiest routes is through a tax-friendly 529 college savings account.
Many state-sponsored programs offer a variety of online gifting tools, crowdfunding platforms, e-gift cards and downloadable gift certificates. For example, California’s ScholarShare529 allows account holders to establish a gifting portal profile and share it with family and friends by email or social media.
For more details on other 529 gifting programs, go to the College Savings Foundation website at
Giving back
Instead of showering the kids or grandkids with more stuff, consider making a donation in their name to a charity — perhaps an organization of the kids’ own choosing. You’ll give a child a valuable lesson in helping those in need.