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TL;DR: money gifts have become more widely accepted, and with the right gifting tools, they can even be personal and fun. Try Greatest Gift’s share a request tool now and let your guests know that you are saving for something great.
Congratulations! You’re having a baby! Soon you will hold the little one in your arms, and you’ll be filled with feelings of love and happiness. Sleepless nights and endless diaper changes are on the horizon, but nothing the newborn’s first smile can’t fix.
Everyone is so excited – grandparents, uncles and aunts, the whole family and your friends too. They can't wait for the baby shower to spoil you with gifts.
Unfortunately, some of the gifts they’ll buy are things you already have, and many are things you don’t need. In all honesty, you would just rather get money as gifts instead. You’re in luck because we’ve put together some tips and facts on how to ask your friends and family to give cash gifts for your baby shower.
As the parents, you know what your baby needs best. Cash gifts provide endless possibilities and allow you to use the funds in the best way possible.
Gift cards can also be nice, but even they miss the mark. Gift cards are often not utilized, with $3 billion left on the table in unredeemed gift cards per year that goes to waste. Like all new parents, you want to make sure you are doing everything right for your newborn, and that includes looking out for their financial well-being.
The gifts that come from a baby shower can be used as a steppingstone for your child's future. Cash and investment gifts for your baby can kickstart their journey to college and set them on the path to financial security (away from their parent’s basement!). Remember, every dollar invested when your child is born can grow by as much as three and a half times by the time they go to college.
Most young parents already prefer to receive cash as gifts and understand why you would like to receive them as well. In fact, in a 2015 survey by Upromise 7 out of 10 parents said money was their preferred gift. Online wedding registries and honeymoon funds provide cash registries for couples, and make cash gifting the new norm. Young couples follow this trend when planning their baby shower, and open cash registries for their baby funds.
In addition, it is still a major priority for people to invest in a child’s future. Until not too long ago, US Savings Bonds were still popular gifts for babies, but this form of monetary gifting is very outdated. Many people still have one or two of them in paper form lying around somewhere in their attic.
Taking all of this into account, cash gifting is not a taboo topic like you might think. Also, with the current global events people are trying to be more careful by skipping events and shopping less in stores. The solution of sending a monetary gift is more desirable.
Some new technologies, like Greatest Gift, even make cash gifts more personal by adding customized greetings with pictures and videos and allow receivers to invest the funds. This turns money gifts into thoughtful gestures.
If you still feel awkward at first to ask your guests for cash gifts, below are some ways to politely suggest it.
Asking and receiving money for a baby shower is the perfect opportunity to kickstart savings for bigger goals. Giving monetary gifts might feel impersonal or unthoughtful but contributing towards a savings goal can be considerate and generous. When gifting for a goal, gifts gain greater purpose, and a $100 dollar gift can turn into a gift of college savings.
Socialize your goals when discussing the shower with guests and let them know how they can contribute if they ask. If you have a baby-shower planner, make sure they know about your savings goals so they can share them with your guests by including it on the invite for example.
After learning about your savings goals, even your Great-Aunt Rose will send you cash gifts instead of the crochet blanket she usually sends everyone.
If you are sending out printed invitations, make sure to let people know your preference. You can even add a QR code that links directly to Greatest Gift or your online cash registry, where they can send cash gifts to go towards long term savings.
If you are sending out evites, you can simply add a link to a cash gifting website.
Either way, make sure to write a few words to let people know how they can help support your goals and what you need most for your baby. This can help guests who are on the fence about what gift to get you.
We’ve provided a few example in this article.
One way to ask for financial gifts is to actually open up a fund for the baby, and let your guest know how they can contribute directly to that fund. Gift givers may feel more comfortable knowing they’re sending a financial gift towards an existing savings fund for a specific purpose.
There are great options for setting up saving and investing funds for babies, including 529 plans for college savings, custodial accounts, and even regular savings accounts, to name a few.
Until recently, sending gifts to these accounts was difficult and a tedious process, but Greatest Gift’s gifting process makes it easy and exciting
If you use a traditional baby shower registry, only add items that you actually need. This will ensure that you get exactly what you need, and you don’t choose any unnecessary gift options just to fill out the registry. In addition to the registry, refer guests to a financial gifting website like Greatest Gift, so that they have both options of cash gifts and traditional gifts.
Greatest Gift is an online cash gifting platform for children’s long-term savings. You can use Greatest Gift to share with your friends and family that you are saving for your baby and introduce them to an easy and exciting way of investing in your baby’s future.
After the party is over, and the baby is born, we’d like to remind you not to forget the “Thank You” notes. Give your gift-givers the credit they deserve in helping you start your child on the right path to saving!
Make it personal by adding a picture or cute video of the newborn.
Specifically, with cash gifts, you can show your gratitude by sharing a bit of how you will use the money. If you open a savings account or fund for the baby, let them know their money was used to help start that account! If you buy that stroller you always wanted, share it with them and let them know they made it happen.
The greatest wonder of life is about to happen. From all of us at Greatest Gift, good luck, and happy gifting!