I’m happy to welcome today the Debt Free Guys. Enjoy their guest post on how the gift of investing may be the best present a child could receive this holiday season.
Americans are expected to spend between 4 and 4.5 percent more this coming holiday season than in 2013 or $981 to $986 billion between November and January, excluding auto and gas sales. The lion’s share of that money is expected to be spent on technology, led by Apple’s iPhone 6 and 6+.
Already this month we’ve seen personal finance blogs with advice to manage expenses this holiday season. Expect to see lists of all sorts on financial blogs and websites, such as “25 Gifts Under $25”, “Gifts You Can Make” and “The Art of Re-Gifting”. We’ll kick off our 2014 holiday shopping advice to give the gift of investing this year.
There will be the exceptions, but most American children will have their fair share of gifts beautifully wrapped and lovingly placed under a Christmas tree or next to a menorah. They’ll excitedly un-wrap their gift, play with their new toy or wear the new piece of clothing, but eventually the gift will be forgotten. Some possibly forgotten before the day is over. Others will be forgotten by the end of the holiday season or a few months later. Even iPhones lose their luster after several months.
What won’t be forgotten is education. As we’ve discussed frequently at Debt Free Guys, we believe there is a gap in education in that kids don’t sufficiently learn enough about money management, saving and investing.
Educate the children in your life and give the holiday gift of life-long investing. There are three ways to do this.
Open a UTMA/UGMA Account