Post # 1
My friend’s daughter is turning one this weekend. My friend’s hubby can’t stand clutter, so I wanted to stay away from toys (she’s got plenty and I’m sure she’ll get more) and I thought a monetary gift for her education fund would be a good idea. I have confirmed with another friend that they have a bank account set up for the little one.
How much is appropriate? And is it better to give cash in the card or a check? It would be from me and my DH and we’re close with the couple. They’re not the first in our group to have kids but we adore their daughter.
Post # 2
I always write a check for my neices and nephews in the card, and make sure mom/dad knows that it’s there. I usually get a small token gift for the kids to have something to open (they’re a bit older though, so they get the opening presents more than 1 year old). I typically just give whatever I budgeted to spend on their gift – probably $100 or so – in check form.
Post # 3
I’d do the same amount I’d otherwise spend on a physical gift, $50.
Post # 4
I think it’s a good idea. I give cash to the little ones so parents can buy something for the kids they may need but can’t afford.
Post # 5
Thanks for the input ladies! I’m thinking about $100 should do; I’d spend less if I was buying clothes, but only because really, kids grow out of all those cute outfits pretty darn quick!
Post # 6
I’d give $25-50. I don’t know if they set up a regular bank account or a 529 but my son’s 529 lets other people contribute directly to it.
Post # 7
you could do a savings bond too. do people still do those?
Post # 8
What’s a 529? Is that like a Registered Education Savings Plan (RESP)? That’s what we have in Canada. I don’t think they’ve set one up but it’d be a bit obvious if I had to ask her the bank account details.
Good question… I used to have those when I was a kid but I don’t think they’re the best invtestment anymore? I don’t keep up with all the bonds, GICs, and all that stuff! Anyone know?
Post # 9
As parents who also don’t like clutter then having a gift, such as money, that we can put towards something else would be most welcomed!
Post # 10
If they have a savings account set up then I would for sure write a cheque. Cash laying around is easy to accidentally spend and a cheque requires depositing it. Not that I question your friends integrity, I just know that having cash in my wallet can be spent easily. Just make it out to the child and spend whatever you would typically on a birthday gift.
Post # 11
I agree; I usually don’t love writing checks (because who knows when they’ll be cashed) but I felt like it was a bit safer of an idea. You’re right, cash slips through fingers quite easily and since I don’t know how big of a party this will be (or who will be there), a check is a safer option.