9 Financial Gifts for Babies, Kids & Grandchildren

Giving gifts to children is often a challenge. You want to give them something they’ll enjoy, but you also don’t want it to be a waste of money or break after only a few uses.

What is a Financial Gift?

A financial gift is an asset given with the intention of aiding another party.

Financial Gifts for Babies

Financial gifts for newborns can act as an immediate form of assistance through help paying bills or money to buy necessities that could make home life easier. 

1. Baby Funds

For babies, a great gift to start for expecting parents involves setting up a savings account to hold cash in a bank for a child’s future expenses.

2. 529 Plans

You can use 529 plans to cover tuition for your child or grandchild at a private school and pay for books and supplies in college years later.

3. Savings Bonds for Babies and Kids

Popular with grandparents, these types of bonds differ from other bonds in that you can’t sell savings bonds to other investors in the market. 

4. Custodial Brokerage Account

These tend to perform better over time due to their higher returns than bonds and act as a great savings bond gift alternative.

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