Give Your Grad the Gift of a Solid Financial Foundation


As college and university graduates begin entering the workforce, some of the most valuable gifts they will receive are those that will help them pay off student debt, save for the future, and achieve success at this next stage of life.

And as much as we don’t like to talk about it, it all comes down to money – how much they have, how much they owe, and how much they aim to make in their career.

The good news is, you can help them get off on the right foot with a graduation gift that helps them think in a whole new way.

1. Finances 101

If you want to help your grad break out of the ”poor student” lifestyle, you may want to start by introducing them to a professional that can guide them when it comes to important financial decisions. A financial expert can help them create a budget as they save towards short-term goals, like a new work wardrobe, or first and last month’s rent for that condo downtown they’ve been eyeing. Once they’ve got a better understanding, encourage them to download a free budgeting app, like Mint or a low-cost option, like YNAB, to stick to the plan.

2. From classroom to boardroom

If they’re on the hunt for a new job, consider a gift card to a clothing store that sells a nice selection of business attire. If they can afford to dress to impress, they’ll be that much closer to getting the job offer of their dreams – you know, first impressions and all that jazz. If you’re feeling extra fancy, you could even make an appointment with a wardrobe consultant to get them started (especially if they’re still in the sweatshirt and ripped jeans phase).

3. Professional guidance

Whether a career counsellor or a life insurance advisor, these types of professionals can help your grad figure out some very important next steps in life. What career path are they going to take? How can they protect their loved ones’ financial future? Do they have a long-term savings plan? At Serenia Life Financial, our advisors use a holistic approach when providing this type of guidance. They’ll consider your grad’s short- and long-term goals, and assess their current job and family situation – all to make sure that at every stage of their life is planned for and protected.

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4. Long-term savings

Ideally, you already started to contribute towards your grad’s savings while they were still in school – putting money they may pay you for cell phone bills, car insurance, or credit card debt into a TFSA they’ll have access to when they graduate. At this point, you may also want to consider looking into other investment options, like stocks and cash gifts, or a whole life insurance plan.

5. A trip with a mission

One popular graduation gift with proud parents and students alike is a trip abroad. So why not take advantage of our Mission Trip benefit to give your grad the trip of a lifetime? While this gift may not teach financial savviness per se, it can open their eyes (and heart) to the value of giving back to those in need. Plus, Serenia Life’s benefit will help you pay for the cost with $200 to fund their travels – and another $50 to donate to their cause post-trip. Find out if your grad is eligible and apply! (Note: In order to be considered, applicants must be a member of Serenia Life Financial.)

The reality is new graduates need an education when it comes to the financial realities of ”adulting.” A solid foundation for the future includes a financial planning strategy that will help them reach their goals while learning how to live more generously. (Yes, it’s possible to do both!)

Ready to give your grad the gift of financial savviness? Get started by booking a FREE Needs Analysis with an advisor at Serenia Life. Get started today!