Wondering about the best gifts to give the young adults in your life?
Whether it’s a new grad, a wedding, or house warming gift you’re looking for, giving a financial gift can be a great idea.
Personally, when I graduated, I was beyond grateful for the financial gifts I received that would help me afford all the things I needed.
Back then, financial gifts were mostly given in the form of cash and gift cards. But, if you’re looking for financial gifts for young adults today, here are a few other ideas you can choose from.
Yep. As I mentioned, cash is always a welcome gift for young adults. If you don’t actually give cash, most will also be happy to take your personal check. #oldskool
2. Gift Cards
Gifts cards are also a welcome financial gift. When you’re looking at gift cards, try not to be too specific.
For instance, gift cards to Walmart, Target, or even a generic Visa gift card or the like will be great for young adults to buy things they need.
If you decide to get gift cards for other locations, try to get ones that will be helpful vs super specialty stores.
One way to get more bang for your buck with gift cards is to buy discount gift cards on Gift Card Granny.
3. Help Them Earn Interest
Opening up a savings account, or adding to it, for a young adult can help encourage them to get in the habit of saving money. But, most bank accounts don’t pay much in the form of interest.
A better option is a Money Market Certificate. PenFed is my choice for a Money Market Certificate because terms are super flexible with the shortest term being for only 6 months.
These certificates have all the security of a savings account, while also helping you earn as much as 3.10% APY! Even the 6 month Certificate offers much more interest than a savings account.
4. Give the Gift of Stock
Want to encourage young adults to get started investing for the future? Give them the gift of stock!
Stockpile gift cards make a great gift. You can get them at most local groceries stores, or online on the Stockpile website.
Stockpile gift cards are fractional shares of stock, so you can get the gift cards in almost any amount from $5 to $2,000. Even if the stock you buy is trading at $90 per share, you can get a gift card for $5 and they will own a fractional share of the company.
I have a few fractional shares of stock from Stockpile, and I gave Stockpile gift cards to my family for Christmas this past year. It was fun to pick out stocks for companies they love, like Nintendo, Under Armour, etc.
5. Give Them Financial Literacy
Reading financial books can also be a good way to help young adults start off life on the right foot.
Here are a few of my favorite financial books that would make good gifts.
It’s all there in the name. This is the go-to book for young adults trying to figure out their finances. It also helps that I know the author and she’s awesome. 😉 Erin will be continuing the Broke Millennial series, so follow along for all the other steps that go along with getting your finances together as a young adult.
This was the first financial book I read right around the time I started my blog back in 2013. Although I don’t subscribe to all of Dave Ramsey’s teachings, I think this can be good a book for beginner personal finance knowledge.
Again, I don’t agree with all of the things in this book, but it’s definitely targeted at this young audience.
The Bottom Line
You don’t have to feel stuck giving a wad of cash as a gift. These other financial gift ideas will be just as much appreciated if not more.
What was the best gift you’ve gotten?
This post is in collaboration with PenFed Credit Union. The views expressed in the article are the views of the author and do not necessarily reflect the views of Pentagon Federal Credit Union. PenFed Credit Union is an Equal Housing Lender and is federally insured by the NCUA.