Gift-Giving That Lasts

As the holiday season wraps up, many of us find ourselves caught up in the frenzy of last minute gift-giving. But what if we could shift our focus from short-term excitement to long-lasting fulfillment?

A while back, I spoke with TikTok influencer and author Giovanna “Gigi” González. We explored the complex relationship between culture, money, and gift-giving. Her story, along with my own experiences, offer valuable lessons on how we can approach the holidays with both generosity and financial wisdom.

The Allure of Abundance

Many of us, especially those from immigrant or working-class backgrounds, have experienced a huge contrast between modest living and holiday extravagance.

I remember growing up modestly; we didn’t live extravagantly. My dad drove a 1981 Chevy Malibu until the wheels fell off. It had vinyl seats that burned your butt cheeks in the summer. But looking back at our photos from Christmas day, it was like hundreds of gifts underneath the tree. We were living very basic paycheck to paycheck, and yet on Christmas we had a thousand gifts.

Gigi had a similar experience, recalling the extravagant presents from her grandparents. While these gestures created beautiful childhood memories, they came at a significant cost to their financial future.

“I wish my parents and grandparents had spent more modestly for the holidays,” González reflected. “As kids, we would have been happy either way, and they would have been in better financial standing today than they are now.”

Rethinking Our Gift-Giving Approach

So let’s consider gifts that can contribute to long-term happiness and well-being of not only us but our friends and family.

Experiences Over Things: Consider gifting concert tickets, cooking classes, or travel vouchers. These options create lasting memories and often provide more happiness than material possessions.

• You can purchase gift cards for airlines like Southwest and Delta directly from Amazon or your local wholesale club. If you’d like to assist with lodging, you can also give them a Hotels.com or Airbnb gift card.
• Since tickets to concerts and shows are more expensive than ever, think about helping them out with a Ticketmaster or Broadway.com gift card.
• Let your loved one choose their own adventure with Giftory. From soaring through the sky in a hot air balloon to speeding across the water in a speedboat, the possibilities are endless.

Education and Personal Development: Gifts such as books, online courses, or subscriptions to learning platforms can foster growth and new skills, making them gifts that keep on giving.

• Language learning app subscriptions are especially valuable for those preparing for travel or looking to enhance their careers. Apps like Duolingo, Babbel, and Rosetta Stone can make learning a new language a rewarding experience, offering both mental and social benefits.
• You can find online courses and skill development platforms like Udemy, Coursera, and Skillshare, which offer a wide range of subjects from professional skills to hobbies and creative pursuits. Look for courses that align with their interests, whether it’s public speaking, cooking, coding, or photography.
• If healthy eating is a priority, consider gifting a meal kit from Blue Apron or cooking class from MasterClass.

Health and Wellness: Gym memberships, meditation apps, or wellness retreats can contribute significantly to long-term physical and mental health.

• Consider signing them up for a meditation or mindfulness app subscription. Calm and Headspace are great resources for helping loved ones start or deepen their mindfulness practice.
• Spa gift certificates also make a thoughtful gift; a relaxing spa day can help reduce stress and promote self-care.
• You can also support their health journey by enrolling them at a local gym or fitness class.

Savings Contributions: For younger family members, consider contributing to their college fund or starting a small investment account for them.

• Grandparents, relatives, and friends can all contribute to a 529 college savings plan. These plans offer tax benefits and can be used for tuition, fees, room and board, books, supplies, equipment, and technology expenses at most colleges across the country.
• A Roth IRA is another great way to help your child build wealth for the future. If they have earned income from a job, they can open their own Roth IRA. Alternatively, you can open a custodial Roth IRA and contribute on their behalf. With a Roth IRA, earnings grow tax-deferred, and withdrawals in retirement are tax-free. Contributions can even be withdrawn tax-free at any time.
• U.S. Savings Bonds offer a straightforward method for saving and growing wealth. By purchasing a bond, it will earn interest for up to 30 years. With the full backing of the U.S. government, these bonds offer a safe and budget-friendly investment opportunity.

The True Spirit of Giving

While the joy of unwrapping numerous gifts is undeniable—as both Gigi and I can attest from our childhood experiences—it’s worth considering the long-term impact of our gift-giving habits. By choosing presents that contribute to personal growth, financial stability, and overall well-being, we can show our love in ways that resonate far beyond the holiday season.

As our stories remind us, the most precious gift we can give our loved ones is a secure and stable future. This season, let’s challenge ourselves to give thoughtfully, keeping in mind both the immediate joy and the long-term happiness of those we care about most.

Remember, it’s not about spending less, but about spending wisely. By doing so, we can create holiday traditions that bring joy in the moment and set the foundation for a brighter future, avoiding the financial strain that often comes with overly extravagant gift-giving.