At CommonCents Financial Planning, we see money as a tool for legacies, and early gifting doesn’t always mean large sums.

Alternatives like funding insurance premiums or experiences can help adult children without overwhelming them.

Here are three ways we guide families toward meaningful, low-risk gifting.

1. Fund Insurance for Long-Term Protection
We often suggest paying for your children’s insurance premiums as a practical gift.

For $500–$1,000 annually, income protection and life insurance cover provides security against illness or loss.

One family we advised funded their children’s insurance policies which prevented significant financial strain when one of the children faced health issues. A bonus to this was that our clients were not relied upon to fund their sick child’s finances.

We help to review policies, ensuring adequate coverage like $5,000 monthly income replacement which protects both generations from unexpected burdens.

2. Gift Shared Experiences Like Holidays
We love recommending family holidays as non-monetary gifts, creating memories while aiding kids.

You can book a $10,000 Sunshine Coast getaway for two weeks, inviting children and grandkids to join.

This eases their budgets as often mortgages limit vacations all the while fostering bonds.

With the right budget, you can turn your gift into joyful, tax-free experiences that don’t risk misuse.

3. Opt for Smaller, Regular Gifts
We often advise smaller amounts for gifting, like $5,000–$10,000 yearly, to test impacts without Centrelink penalties.

For a $50,000 total over five years, this builds habits gradually—perhaps toward education or debt.

We help to model scenarios, ensuring gifts remain under thresholds to maintain your pension, and suggest tying to milestones like birthdays for ongoing support without disrupting work ethic.

Gift Wisely

Alternative gifting builds legacies thoughtfully and a good way to do this is to start with insurance reviews or holiday planning.

We’re here at CommonCents Financial Planning to tailor strategies and ensure your generosity lasts.

Reach out to discover ways to gift wisely for your family’s future!