Presents that bring happy returns
Savvy books on wealth, or even an investment, make good gifts
WHEN it comes to Christmas gifts, there is nothing better than a gift that keeps on giving, especially if it contributes to the receiver’s financial wellbeing.
For those hoping to help someone get out of debt or learn to manage their finances better, these three books focus on debt and investing and are well worth a read.
‘Maya on Money: Implement your money plan’ by Maya FisherFrench
This book covers everything from budgeting to getting out of debt and choosing which insurance plan works best for you. It’s a comprehensive, easy-to-follow guide for anyone looking to put together a financial plan and find smart ways to make sure they reach their financial targets.
‘Best Pocket Guide Ever’ series by Jill Howard
This is a four-book series that is great for someone working through their financial journey step by step. The Best Pocket Guide Ever for Debt Elimination is a useful tool for those working their way out of debt. The second book in the series, The Best Pocket Guide Ever for Minimising Insurance, offers advice on how to cut down on insurance premiums without giving it up completely.
The third, The Best Pocket Guide Ever for Wealth-Building, is an ideal gift for those who want to learn how to create an emergency savings plan and start investing to build wealth.
The Best Pocket Guide Ever for a Financially Secure Retirement is for those who want to plan for retirement but aren’t quite sure how to go about it. While consulting a financial adviser is ideal, doing a little reading on the side will not hurt.
‘How Much is Enough?’ by Andrew Bradley, Arun Abey and Andrew Ford
Many people who want to create wealth and achieve financial freedom are not sure how much it would take to do that. This book will help you to think about your goals, the type of life you want to live and how you can go about making that a reality. It covers the building of wealth, healthy money habits and the relationship between financial wellness and a person’s wellbeing.
While books are high up in terms of “gifts that keep giving”, another present to consider is an investment — a gift that keeps on giving in compound interest.
Deciding which kind of investment may be tricky, but several platforms allow you to buy shares for a third party.
If you want to give a simple, introductory investment gift, you could look at exchange traded funds or unit trusts. If you’d like to make a once-off investment, or give an amount every month, you can make a minimum R300 deposit with etfSA. There are 37 different types of ETFs to choose from.
Through ETFs you can invest in different types of shares and gain exposure to select types of markets. For instance, if you’re looking for offshore exposure, an ETF such as DBX World tracks the global MSCI index, which essentially gives you exposure to global market equity.
If you are looking for flexibility in terms of payments, check out EasyEquities or SatrixNOW.
You could buy a voucher and leave the investment decision to the recipient. You also have the option of a tax-free investment. Just ensure you’re aware of the limitations of tax-free savings accounts.