Typically giving money as a Christmas present or even as a gift for other occasions is extremely welcome but you sometimes wonder it’s really as special as actually buying a gift. What is worse, is that in reality, it is highly likely that the money will not go towards something that will be functional and will only be squandered away and calculate for nothing. In the current financial climate we want our gifts to make a difference. There are ways around this predicament.

Give the money for a certain purpose
I tend to give money to my immediate family especially for key events such as weddings and baptisms. However, instead of just placing the money in the envelop, I give them some advice on what I would like to see them spend the money on eg recently my sister and brother-in-law became god-parents to my youngest daughter. As a thank-you, my wife and I gave them an amount of money that they could put towards furniture in their home (they were renovating).

Payment for someone’s credit card
If you know someone’s account is not paid completely every month even a little payment will assist in diminishing interest charges as well as paying off some of the balance. The outcome of this is more than the sum you may deposit as interest is considered daily and mixed. Credit card interest charges are disgracefully high. Making a direct payment into someone’s credit card, can make sometimes make a bigger difference than actually giving them $50 in an envelope.

Donation to charity
Making a donation to a charity on behalf of a friend can be a great present for the person who seems to have everything. Cash contributions could also be eligible for a tax deduction. Services such as Oxfam and World Vision (featured on this site) allow you to buy gifts such as goats for friends. You don’t actually buy a goat, rather the donation you make goes towards the purchase of goat for a person who is in need. A friend of mine once spent his entire Xmas budget at Oxfam donating to a worthy cause on behalf of each of his family & friends.

Gift Vouchers
This is most likely one of the most frequent ways of giving a monetary gift devoid of actually giving cash. Vouchers can be bought for all types of basic needs, such as groceries, experiences, make-up, pampering, the list is endless. Gift Cards Online gives you over 70 to choose from and the list is growing daily.

Educational tools
There is a enormous collection of books on financial topics that are right to people in diverse situations. Some ideas are books on paying off your loan, planning and sticking to a budget, investing your money, training children about money- almost something you can think of. For adults you can find computer software that can help you manage your finances, and for the children there are toys and games to help them understand what money is all about. Helping somebody to get control of their finances is a gift they’ll be able to use for the year(s) to come.