Cuddly toys, baby onesies, diaper cake? If you want to give a sustainable and meaningful gift at the birth of a new family member, consider investing. If you start early, even a small amount can add up to a small fortune by the time the child comes of age. Krone+ shows which investment form offers the most and what parents, grandparents or godparents should pay attention to.
Gifts of money for a birth are not unusual in Austria. In financially tense times such as the current one, with high inflation and crises on many fronts, many parents have no choice but to cover the costs for their new citizen. According to the latest calculation from 2022, a child costs its parents an average of 800 euros per month. However, if there is only a small amount left over each month, it is wise to invest it – and thus give your offspring a good start in adult life. The big advantage: children have time – and therefore benefit from the particularly strong compound interest effect.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
