Raksha Bandhan 2023: 8 financial gifts you can buy your sister

Raksha Bandhan is a special occasion celebrated by brothers and sisters to commemorate their bond and express love for each other. If you're looking for a thoughtful and practical gift for your sister this Raksha Bandhan, consider something related to finance that can help her in achieving financial goals.

These are the eight financial instrument that you can gift your sister and show that you care for her well-being:

Demat account: Open a demat account for your sister and fund it with an initial amount. This will enable her to start investing in stocks and other securities. A demat account allows for seamless trading and holding of shares, making it a valuable gift for those interested in building wealth through investments.

SIP: Set up a mutual fund Systematic Investment Plan (SIP) for your sister, which offers long-term growth potential. SIPs allow for regular investment of a fixed amount in mutual funds. This is an excellent gift as it can enable her to grow her wealth over a period of time by investing in a diversified portfolio of stocks or bonds. As a brother, you can contribute the initial investment or guide her in choosing the right schemes.

Stocks: Consider gifting your sister a few shares of a company she admires or believes in. This will not only introduce her to the world of investing but also make her a part-owner of a company. Choose stocks of well-established companies or ones with a strong growth potential to ensure a meaningful gift.

Insurance: Show your care and concern for your sister's well-being by buying her an insurance policy. Whether it's a life insurance policy that offers financial protection to her family or a health insurance policy that covers medical expenses, it will give her a peace of mind and financial security.

Investment books: Present your sister with a collection of financial books that can broaden her knowledge and inspire her to make smart investment decisions. Books such as ‘The Intelligent Investor’ by Benjamin Graham or ‘Rich Dad Poor Dad’ by Robert Kiyosaki are some of the popular choices.

Digital gold: One unique financial gift you can give your sister this Raksha Bandhan is digital gold. This allows your sister to invest in gold digitally, eliminating the need for physical storage. There are so many popular platforms that offer digital gold investment options. Your sister can easily buy, sell, or even convert the gold into jewellery when she wants.

Bonds: Investment bonds are another thoughtful financial gift. Bonds provide a fixed return over a certain period of time and can help your sister grow her wealth. You can give her government-issued bonds or corporate bonds, depending on her risk appetite. These bonds can be a safe and stable way to generate income over time.

Skill development course: Investing in your sister’s skill development is a gift that will reap long-term benefits. You may choose to pay for a course or workshop that suits her interest or career goals. It could be a certification program to a language course or even a finance-related workshop.

To sum up, you can celebrate Raksha Bandhan by giving a well-meaning financial gift to sister to show that you care about her future and financial well-being. Whether it's about helping her set up a demat account, investing in mutual funds, or providing financial education, these gifts can have a lasting impact on her financial well-being.