4 financial gifts for college-bound teens

We all know that a gift card is the easy way to give a gift. But, if you are a college-bound high school student (or current college student), another $25 to Starbucks might not be the best thing for you.

Here are four great gifts to consider asking for from your relatives and family friends this year.

Contribute to the family’s 529 Plan.
College costs have skyrocketed and having just a few dollars saved up isn’t going to cut it anymore. It’s become a cumbersome and gut wrenching family affair to pay for college. So, if you are about to text back Grandma and Auntie Sue what size sweater you wear, consider instead giving them the information to contribute to your 529 Plan. When it comes time to use funds in that account, you will be so grateful to have that instead of the sweater you’ll only wear one season.

Ask for a college planning gift certificate.
There are companies in most towns that offer college planning assistance, SAT/ACT test prep, college essay help, and financial aid assistance. Some companies will even offer their services virtually via Skype and phone. Companies like these can offer career assessment tests, evaluations of your college applications, review and writing help with essays, and so much more. Having pre-paid access to these services can make senior year so much easier.

Play around on the stock market.
If you are a student who doesn’t mind the gamble (and especially if you are going to college for a business or financial major), consider asking for some money to play on an e-trading website like E-Trade. Your family might have a financial advisor for retirement. Meet with the representative and ask about buying a few shares of a stock with the money you get.

Set up a GoFundMe account.
This is actually becoming much more common for students, and the holidays is a great time to get it started. You will be able start fundraising again at graduation and you will head into the fall with two seasons worth of contributions. This isn’t as tacky as you may think, and long-distance family members appreciate how easy it is to use and connect to electronically. Plus they get to post encouraging messages for you!

Keep checking back this week as we give great gift ideas for students. Don’t forget to enter for a chance to win a Speck phone case or tech gifts from TP-Link.