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7 Financial Gift Ideas for Mother’s Day

Mother’s Day is a time to honour the incredible women who have shaped our lives with their love, guidance, and support. While traditional gifts like flowers and chocolates are always appreciated, this year, why not consider something truly special that not only celebrates your mum’s nurturing spirit but also contributes to her financial well-being? 

In this article, we’ll explore a variety of thoughtful financial gift ideas that go beyond the conventional. 

1. Invest in her health and well-being

One of the most precious gifts you can give your mum is the gift of good health. Instead of the usual tokens of affection, consider investing in her well-being by arranging for a health check-up.

To choose the right health screening for your mum, consider her age, medical history and family history before making the decision.

A basic health screening usually includes screening for obesity, diabetes, high blood pressure and high cholesterol.

A comprehensive health screening consists of further health tests that are usually recommended based on a doctor’s assessment of the patient’s risk factors and lifestyle habits. For instance, a comprehensive health screening may include assessment of thyroid hormone levels, ultrasound of the pelvis to screen for conditions of the womb and ovaries, and tumour markers.

In addition to the above health screenings, specific tests such as cancer screenings tailored to detect certain types of cancer, may also be beneficial. Individuals with high risk for colon and breast cancers should undergo screening regularly.

With rising healthcare costs, having adequate coverage can provide peace of mind for both your mum and the entire family. Knowing that her health needs are taken care of will undoubtedly be a priceless gift for her.

Read more: Health Screening in Singapore: What You Need To Know

2. Empower her financially with investments

For a gift that keeps on giving, consider empowering your mum financially by introducing her to the world of investments. Singapore has a long expected lifespan at birth of 84.8 years. To ensure that our mothers can maintain financial wellness throughout their golden years, we can help them to build multiple income flows.

For instance, we can look into investing their surplus cash in instruments that offer safer income flows, such as the Singapore Savings Bonds (SSBs) which is flexible, risk-free and offers two cash payouts a year.

You may also consider opening a mutual fund or purchasing stocks on her behalf, tailored to her goals and risk tolerance. You can seek professional financial consultation to ensure that her investments align with her long-term objectives. 

By starting an investment portfolio, not only are you providing her with the potential for significant returns, you’re also instilling in her the confidence to take control of her financial future.

Read more: Is CPF Life Sufficient for Your Parents’ Retirement?

3. Teach her about money management technology

In today’s digital age, technology has revolutionised the way we manage our finances. Spend quality time with your mum by teaching her how to leverage technology for money management.

Introduce her to net banking, mobile payment apps, and budgeting tools that simplify financial transactions and tracking expenses. For instance, you can teach her about the functions of PayLah!, PayNow, or GrabPay, and how to claim cashback and rewards when using these apps.

Our mothers will be delighted to know that up till 26 July 2024, we can enjoy up to S$3 subsidy on a hawker meal every Friday by being the first 100,000 users to scan to pay with DBS PayLah! at the hawker stalls.

While on that, you can also introduce her to other common apps that we use in our daily life, such as GrabFood and Shopee.

Additionally, educate her about online security measures to protect against fraud and identity theft. This gift not only enhances her financial literacy but also strengthens your bond through shared learning experiences.

4. Create a dream fund for her aspirations

Every mum has dreams and aspirations, whether it’s travelling the world, renovating her home, or pursuing a lifelong passion. Help turn her dreams into reality by creating a dedicated fund to support her goals. 

Whether through a savings account earmarked for her dreams or a digital platform for crowdfunding, this gift demonstrates your unwavering support for her aspirations. One way to do so is to set up a joint account with your mum, deposit an initial amount of money as a starting contribution, and encourage your mum to actively save and deposit money into the account with you. This collaborative approach demonstrates your commitment to supporting her aspirations, and also fosters a sense of connection and shared responsibility. 

To make the dream fund more effective, identify specific goals or milestones that your mum wants to achieve. Sit down with your mum to discuss her priorities and aspirations, and establish a timeline for achieving each goal. Break down large goals into smaller, manageable targets, making it easier for her to track progress and stay motivated along the way.

5. Make a philanthropic gesture in her honour

Celebrate your mum’s compassionate spirit by making a charitable donation in her honour. Choose a cause or organisation that resonates with her values and interests, whether it’s supporting education, healthcare, environmental conservation, or social justice initiatives.

Not only does this gift make a positive impact on the lives of others, it also honours your mum’s legacy of generosity and kindness.

Include her in the decision-making process and share the joy of giving back together.

Read more: How To Donate Effectively

6. Buy her precious metals 

Consider gifting your mum gold or other precious metals as a unique investment opportunity. Not only does gold hold intrinsic value and serve as a hedge against inflation, it is also a pretty decoration to have on her outfit!

Provide her with information on the benefits of investing in precious metals and how it can diversify her investment portfolio.

Whether it’s a gold necklace, bracelet, or coin, this gift combines aesthetic beauty with financial prudence, serving as a timeless reminder of your love and foresight.

Read more: Can You Hedge Against Inflation by Investing in Gold and Precious Metals?

7. Enhance her retirement savings for peace of mind

As your mum approaches retirement, ensure that she has the financial security and comfort she deserves.

Consider topping up her lifelong income payout through schemes like the CPF Board’s Retirement Sum Topping-Up Scheme. If you make a cash top-up to your loved ones’ Special Account or Retirement Account and they are aged 55 or above, you can also enjoy up to S$8,000 per year of tax relief.

By contributing additional funds to her retirement account, you’re providing her with a safety net and peace of mind during her golden years.

Discuss her retirement goals and aspirations together, and explore ways to maximise her savings for a fulfilling and worry-free retirement.

Read more: All You Need To Know About CPF Voluntary Contributions and CPF Retirement Sum Topping-Up Scheme

Mother’s Day is an opportunity to express gratitude and appreciation for the remarkable women who have shaped our lives. By choosing financial gifts that are practical, thoughtful, and meaningful, we celebrate our mums and also empower them to thrive financially and pursue their dreams with confidence. 

This Mother’s Day, let’s go beyond the conventional and give our mums the gift of financial empowerment, security, and lasting happiness!

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