10 Awesome Financial Gifts That Teach Kids About Money
From savings bonds to board games, these presents can help kids get off to the right financial start.Randy Fath / Unsplash
Gifts for kids often don't last much longer than the wrapping paper. ("I broke it!") But a present that can help get a young person started down the right financial path will stay relevant for years.
We've pulled together a wide variety of gift ideas that make financial literacy fun. You'll be giving something guaranteed not to wind up in the trash after a few hours, plus you'll be doing your part to raise the next generation of savvy savers and informed investors.
1. Savings bonds
Savings bonds make excellent gifts for kids, especially those who are too young to be tempted to cash them in any time soon.
The bonds are more or less loans you make to the U.S. government, in this case in the child's name. They can be redeemed any time after 12 months, but cashing them too soon can mean lost interest and even penalities.
Series EE or I savings bonds will earn interest for up to 30 years. You can buy them online at TreasuryDirect.gov.
2. Money for college
Though young children won't understand what it means if you open or contribute to their 529 college savings plan, they'll thank you years later at high school graduation time.
And really, it's never too early to start talking to kids about the value of education, to help set them on the right track for their future.
These plans have tax advantages and are offered by states. You can either save and invest a pile of money for a child's higher education, or prepay for tuition at a participating school.