smart spending

5 money gift ideas for the holidays

Pay for a session with a financial adviser
Pay for a session with a financial adviser

A session with a financial adviser can help a relative develop a plan and move forward financially during the coming year. To line up this money gift, look for a fee-only financial adviser, says Palache.

Because some financial planners offer an initial free consultation, ask to purchase an additional hour. Or offer your budget for the gift, such as $100, and ask how much time can be scheduled for that dollar amount. After paying for the session, draw up a gift certificate or ask the professional to design one for you.

During the session, the adviser should be able to cover topics such as a budget and setting up a financial plan. "There should be action items included in it -- something the recipient can leave with and implement with or without a planner," says Palache.

The National Association of Personal Financial Advisors offers search tools to help locate fee-only financial planning professionals in your area.

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