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With the holidays fast approaching, cash is undoubtedly one of the best gifts you can give. This time of year can be eye-poppingly expensive, and making ends meet can be difficult. Although you might prefer to give a more thoughtful gift, those struggling will likely appreciate cash more than anything else.
But what if you could give cash while making it thoughtful and interesting? Fortunately, there are many creative ways to give money as a gift. Consider these options, whether for the holidays, a birthday, or any other special occasion.
1. Money cake
This idea doesn’t have to be overly complicated. It can be as simple as rolling dollar bills and standing them up to form a circle. With enough dollar bills, you can create something resembling the shape of a circular cake. Also consider using a material like foam to make multiple layers to create an especially elaborate arrangement. Then, add a ribbon or other decorations for an authentic look.
If you want to go the extra mile, you could even bake (or buy) an actual cake that contains money inside. You can find money cake pull kits online or at party stores, which include a pull-out box and a chain of plastic sleeves to hold the bills.
No matter how you approach the project, the recipient is sure to appreciate your creativity and effort.
2. A CD (as in, a certificate of deposit)
With interest rates on the decline, a CD is a great tool for locking in today’s competitive rates over the next several months or years. So why not give the gift of compounding returns?
If you do decide to gift a CD, there are some limitations you should understand first. Most importantly, you can’t open a CD in another adult’s name. However, you can open a custodial account for a minor and then invest funds in a CD. Once they reach a certain age (usually, 18 to 21, depending on the specific rules of the account), they’ll be able to access the money.
You’ll also need some personal details, such as the child’s Social Security number, date of birth, and address, in order to open an account.
CDs used to come in the form of a physical paper certificate to prove that a depositor’s money was being held at a particular rate and term length. Today, CDs are generally issued electronically, but you may be able to request that the financial institution provide a paper version, which you could frame for the recipient. Either way, gifting a CD can be a great way to teach kids about the value of saving money long-term.
Read more: Can you gift a certificate of deposit?
3. Money lei
The Hawaiian lei is a garland or wreath of materials like flowers, leaves, or shells. When you give someone a lei, you are extending them a symbol of friendship or love. The city of Honolulu calls the lei “a symbol of aloha.” Giving someone a money lei can be a great way to show them your love and appreciation.
Making a money lei by hand is the best way to incorporate these sentiments into your gift. However, if you prefer to buy one pre-made, consider purchasing it from a Hawaiian or Polynesian seller as a gesture of respect for their cultural tradition.
4. Piggy bank
Instead of putting money in a card, a piggy bank can be a fun way to give money to someone, especially a child (or someone with a nostalgic side). Put some cash, coins, or even gift cards inside the piggy bank before gifting it. To make it more personal, consider choosing a themed piggy bank that matches their interests, such as a travel-themed one for a globetrotter.
If you’re giving a piggy bank to a child, you could pair it with a book about money, like "The Berenstain Bears’ Trouble with Money."
5. Chocolate box of money
A box of chocolates is a classic gift. But what your gift recipient may not be expecting is for the box to be full of money. You can leave some of the chocolates in the box and add a few bills, or you can fill the entire box with cash. Either option could be a good choice, depending on whether the recipient has a sweet tooth.
6. Money wreath
Making an entire wreath out of money can be time-consuming, but it’s worth considering if you’re looking for a particularly festive idea. There are different ways to create a wreath with dollar bills, such as by rolling them or folding them into origami shapes. You can also add tinsel, ribbons, flowers, and more to make it even more festive.
7. Play 'dough'
Kids love Play-Doh, but parents don’t always love the sticky mess it creates. Something both kids and adults will appreciate: cash.
You can use Play-Doh containers to make your gift-giving experience fun. Roll up several bills and place them in Play-Doh containers. Then wrap each container in wrapping paper. When the recipient is done unwrapping them, tell them you gave them some “dough.” Only after opening the containers will they realize what kind of dough you meant.
