Thursday, April 17, 2008

Canadian Bonds - The Gift That Accrues Interest!

Earlier this week I did a small post about starting an RESP for your friends or families children. I promised to post about an alternative that I found.

Roaming around on the net I found myself reading up on Canada Savings Bonds and how they are available to purchase as a gift.

Wow! I think this would be a great alternative for me. The lowest amount that you can purchase is $100 so its not something you'll give out at every baby shower or friends child's birthday party. Still, I think its a great alternative to have something for them stashed away and accruing interest.

I like this idea because its a gift that keeps on giving and it will appreciated much more later in life than a toy or something that will depreciate or not be around in a few years. The only thing I wonder is about people buying them as gifts and then the parents of the children just cashing them out. Hmm.....

It's something I will keep in mind for when I'm more financially secure myself! I have to get myself in order and set up before I can do so for others, right ?!

2 comments:

Arual said...

I really like this idea too. My frind had a baby about 3 months ago and I have been entering contests to win her RESPs. This may be a good gift for her first birthday...

Canadian Saver said...

This would be good for kids that are special to us... and like you say, easier than an RESP...