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 © Goodluz/Shutterstock.com

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.

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
5 crazy ways to get credit card rewards
REFINANCE HOME EQUITY AUTO CDs CREDIT CARDS
Product Rate Change Last week
30 year fixed refi 4.17%  0.11 4.06%
15 year fixed refi 3.21%  0.12 3.09%
10 year fixed refi 3.26%  0.15 3.11%
 
View Rates in your area Next
Product Rate Change Last week
30K FICO-based HELOC 4.67%  0.35 4.32%
50K FICO-based HELOC 4.04%  0.05 3.99%
100K FICO-based HELOC 3.88%  0.05 3.83%
 
View Rates in your area Next
Product Rate Change Last week
60 month used car loan 2.99%  0.19 2.80%
48 month used car loan 2.91%  0.09 3.00%
60 month new car loan 3.07%  0.10 3.17%
 
View Rates in your area Next
Product Rate Change Last week
1 Year CD 0.99%  0.01 0.98%
2 Year CD 1.20%  0.01 1.19%
5 Year CD 1.82% --0.00 1.82%
 
View Rates in your area Next
Product Rate Change Last week
Balance Transfer Cards 15.80% --0.00 15.80%
Cash Back Cards 16.42% --0.00 16.42%
Low Interest Cards 11.09% --0.00 11.09%
 
Next
advertisement
Partner Center
advertisement

Connect with us