Game-changing gifts: presents that will really make a difference these holidays
Toy cars, new slippers, candles, televisions and clothes they might be fun and cosy for a bit, but no one’s life will change for the better with these gifts. If you want to make a difference with your giving this holiday season, try these game-changing gift ideas:
Local purchases
Supporting local farmers, brewers, small businesses and the like is a game-changer for them, and you’ll earn some serious bragging rights when you’re the giver of completely unique, well-thought out gifts. And for meals, the farming community will delight your taste buds and surprisingly be competitive with prices at your local grocery store. When you shop local, your money goes directly into the hands of a person who’s going to turn around and support their own family and community.
Money for RESPs and tuition
When someone gives my kids a gift for their education rather than a plastic toy, I’m seriously over the moon. I plunk those dollars into our family RESP plan and benefit from the 20 per cent matching funds available through the Canada Education Savings Grant. I also have fewer toys to step on in the wee hours of the morning, when my kids wake up. An RESP gift has the long-term impact of providing for the costs of a child gaining a post-secondary education. These are projected to be close to $100,000 (for someone who is just a year old today).
Money for tuition is hugely helpful. This is an investment in someone’s future. And it will lighten the financial burden of student debts. I guarantee the student will never ever forget this gift — like ever.
Giving to charity
The charitable sector is overwhelmed with demand right now because of extremely high costs of living. Food banks, in particular, are strained to provide adequate supplies to individuals and families.
Which causes are important to you and your family? Can you set aside some of your holiday spending budget and put it towards a donation? And, when you give a financial gift to a registered charity, you will receive a receipt that can be used to bring down your tax bill. Just make sure that gift is made prior to the end of the year for it to go toward your 2022 taxes! Volunteering this season is another great way to give and to make a difference in your community.
Wellness
Whether it is financial wellness, through the gift of money coaching or counselling, physical wellness through a gift of a gym membership or running shoes, or mental wellness through a gift of a meditation app, journal or classes to a local yoga studio, these types of wellness gifts can help someone you love transform their life. Take a step back to understand (or even ask) what would make your loved-one feel better in the New Year, and then focus your gift on that!
Help fund a big goal
Does your loved one have a goal, such as buying a home, launching a business, starting a family or beginning to invest? You may want to consider a contribution towards their down payment fund, helping them buy a key piece of equipment they need to start manufacturing their new product, covering the costs of out-of-pocket fertility expenses, or helping them buy their very first share in a company that interests them. It doesn’t matter the size of your contribution to these big goals, every little bit counts in helping your loved one move forward with their dreams.
Your time
You’re not alone if you don’t have two nickels to rub together this holiday season. Your time, energy and skills can be a huge gift to parents who might need a little extra free babysitting, seniors who would love to hear you read a full book to them, a friend who needs to purge and organize their home, a sibling would love help making a website or a photo book, and to kids who want nothing more than to build a snowman and go tobogganing.
These gifts of you are memorable and can change your relationships for the better.
This article was originally published in The Star. Lesley-Anne Scorgie is a Toronto-based personal finance columnist and a freelance contributing columnist for the Star.
