Common cents: Last-minute money gifts

No matter how much you plan ahead, you might still find yourself looking for a last-minute gift this holiday season. Maybe you received a surprise gift from someone and you want to reciprocate without hitting the malls again. Or maybe — it's OK, it happens! — you just plumb forgot someone on your list. And while money can't buy you love, it can certainly buy you thoughtful presents on a moment's notice. Here, financial expert Vera Gibbons gives smart ideas for last-minute money gifts.

Cash
Who doesn’t like cold hard cash? At least one group will really appreciate it — college grads. Student debt has more than doubled in the last decade. Young people are emerging from school with an average $19,000 in student loan debt and another $3,000 to $4,000 in credit card debt. And that’s why 65 percent of them end up moving back home to live with their parents. So if anyone could use a little cash, it’s the 20-something college grad.

As the giver of cash, don’t be too generous. You can give up to as much as $12,000 a year to each child (or spread around to as many individuals as you want) without any tax consequences. So you, or you and your spouse, can give a total of $24,000 to your children, grandchildren, stepchildren or anyone else. Beyond that, you may incur a federal gift tax.

Stock market shares
This is a nice way to introduce young people to the stock market. And one size fits all. For the chocoholic, give one share of Hershey’s. For the frappuccino addict: one share of Starbucks. For the techie: one share of Microsoft. With more than 130 public companies to choose among, there’s something for everyone. Just log on to oneshare.com and buy the stock for the cost of the stock as listed on the exchange. It’s an extra $39 for an actual stock certificate, which the recipient will receive in 4-8 weeks. But as soon as your purchase is made, the recipient will get an e-card announcing the gift.

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Financial aid
Why not buy someone you love financial help? Buy a gift certificate for an hour or two of professional financial advice, from places like the Garrett Planning Network. This is a group of prescreened, fee-only professional financial planners. Founded by Cheryl Garrett, the network has 200 locations across the country. You go to an office and tell them what you want to focus on. Fees range from $150 to $300 an hour. Two hours of advice could be split into two sessions: One could be used to work out a plan to get out of debt, and the other used to learn how to rebalance a stock portfolio or retirement savings.

Charitable donation
Everyone has a favorite charity or pet cause. Just find out what that is and make a donation in their name. Animal lovers might appreciate donations to the Humane Society, art lovers to a local museum, nature lovers to a local conservancy. You can also donate to hospitals, the homeless, education, you name it. It’s easy to do, too. Just go to a site like justgive.org, and choose from more than a million national and local charities. Write a personal gift message, and the recipient will receive an e-card instantly.

Plus, as a bonus to the giver, you receive a tax break, provided you have documentation in the form of a receipt and you itemize your deductions (which only a third of taxpayers do).

Lottery tickets
These are lighthearted, fun gifts, and make for great stocking stuffers. The odds of winning a single state lottery are 18 million to one, and the odds of winning multiple state lotteries like a Mega Millions are as high as 120 million to one. Pick one up at the gas station!

Gift cards
Americans are expected to spend over $26 billion on gift cards this holiday season. They are a popular gift, and they are easy to get. More than 125,000 stores sell them now, from CVS to Apple — up from 1,500 in 2000.

E-cards
Many retailers now offer e-cards, which you can buy online and have e-mailed to the recipient. These can even be ordered on Christmas Day! Before you buy, make sure the recipient is comfortable shopping online (and many companies limit purchases to online only). E-cards are offered by most major retailers, including Barnes & Noble, Bloomingdale's and Costco. E-cards issued from the likes of J.C. Penney, Nordstrom's, Neiman Marcus and Saks can be used online, in stores, and even for catalog sales.