Christmas is the time to “give” love and cheer to others! This year, you can choose thoughtful “gifts” that can have a long-lasting impact on your loved ones, even though most people prefer to give chocolates, sweets, dry fruits, cards, and a Christmas tree.
One can try the following financial gifts:
Health Insurance
In light of the current state of affairs, purchasing a person health insurance policy can be one of the best financial presents. While progressions in clinical science have expanded future, clinical expenses have soar as well.
If the family has health insurance, they won’t have to worry about getting the best care when they need it without draining their savings.
Digital gold
Gold has always been seen as a sign of wealth, a safe haven in times of economic uncertainty, and a good way to diversify a portfolio. It has always held a special place in the hearts of millions of Indians, been passed down through the generations, and helped to strengthen family ties.
People might want to think about giving gold in the form of a Sovereign Gold Bond, Gold ETFs, or a gold saving fund as gifts for their children or spouses this Christmas instead of giving them actual gold in the form of bars, coins, or jewelry.
Fixed Deposit (FD):
If you don’t want to invest in market-linked avenues, a fixed deposit is a great choice. This could be a good present because it is the safest investment. Opening a fixed deposit account online is simple.
Systematic Investment Plan
(SIP) mutual funds let investors regularly save money in a structured way and have the chance to earn returns. Therefore, giving a mutual fund SIP as a gift to loved ones is a smart idea.
It is now incredibly simple to invest in mutual funds online. One way to get things started is to offer to pay the first few SIP installments.
Gift Cards
Prepaid gift cards are offered by banks and are widely accepted at a variety of retail establishments and online shopping portals. Gift cards can be purchased, and the money value can be changed to suit the recipient’s preference.
