Gifts for the Fiscally Aware May Pay Dividends

Searching around for last-minute holiday gifts for hard-to-shop-for individuals? Instead of buying a gift that may gather dust, consider giving items that pay dividends--both real and psychological--to the receiver.

There are a number of financially oriented products that could fill the bill, regardless of whether you’re buying for children, young adults or seniors.

Here are a few of them, from books and calendars to corporate securities:

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* Primers. Know somebody who is trying to understand investing basics?

There’s a simple and brief new book, “Investing Tips Grampa Taught Us.” The authors are named as Elizabeth Masson, 3 years old, and Eric Eber, age 2. In fact, the book is written by Victor Eber, their grandfather--who’s a certified public accountant, founder of Eber Capital Management and a former professor of finance and investments at the University of Miami.

The ruse of the kids’ authorship is hokey, but the purpose of the book and the information in it are not. The thrust: Investing is easy. The earlier you start, the better. In the Southeast, the book can be purchased mainly at airport bookstores for $13.95. The price to buy it by mail--including shipping and handling--is $16.50 for one copy, $30 for two and $36 for three. Write to Financial Press, P.O. Box 43-2020, South Miami, FL 33243.

Gift-shopping for an attorney or a wanna-be lawyer? Consider “29 Reasons Not to Go to Law School” by Ralph Warner, Toni Ihara and Barbara Kate Repa. “This book can save you three years, $150,000 and your sanity,” the cover blurb proclaims. Price: $8.95. Available in most bookstores. Nolo products can also be ordered directly from the publisher at (800) 992-6656.

Other financial books that may be appealing to an adult audience: “Your Rights as a Consumer,” by Marc R. Lieberman, $8.95; “Bill Griffeth’s 10 Steps to Financial Prosperity,” a $27.95 manual by the CNBC financial anchor; “Investing on Your Own,” by Deborah Rankin and the editors of Consumer Reports Books, $21.95, and “Tenant’s Rights,” by Myron Moskovitz and Ralph Warner, $18.95.

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* Calendar. If you know somebody who is very savvy about finance or investing but has trouble keeping dates straight, consider the Econoday calendar. Econoday lists dates of financial importance--from bank holidays in 10 countries to the days U.S. consumer price index figures will be released. There’s one catch: Econoday calendars, which cost between $12 and $80 depending on bulk and binding, aren’t available until mid-January. That’s because the U.S. government decides in December when it will be releasing economic information for the following year. It takes a few weeks to get that information into the calendar and printed. For information or orders, call: (800) 988-3332.

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* How to Reinvest Dividends. Investors, new and old, may benefit from a subscription to the Moneypaper, a newsletter about dividend reinvestment plans. The Moneypaper, which can be reached at (800) 388-993, provides investors with one of the cheapest ways to purchase the single corporate share that’s necessary to join most dividend reinvestment plans.

What’s a dividend reinvestment plan? That’s where you buy stock directly through the company, either with cash or reinvested dividends. By buying direct, you usually avoid brokerage fees--a few companies even give you a small discount. Subscriptions to the Moneypaper are currently half price to newcomers: $36.

The publication is also running a holiday offer--single shares of stock as stocking stuffers. (Those who start at this late date won’t get their shares before Christmas. But you can stuff the equivalent of an IOU and provide the actual share in six weeks or so.) For $20, you can buy a share in Fay’s; for $30, you can buy a share in Kmart, SCE, Stride Rite, Westinghouse, Wendy’s or Woolworth. And for $60, you could buy a share in H&R; Block, Coca-Cola, Johnson & Johnson, Southwestern Bell or Wrigley. All the prices include Moneypaper’s service fee.

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* Savings Bonds. Want to give Junior a gift that will help him pay for college? If he’s a mere babe, consider U.S. savings bonds. The rules on savings bonds will change next year, but for now, you buy a bond for half its face value--a $50 bond costs $25. And, for those who hold them for five years or more, they accrue interest at either a 4% guaranteed rate or a market-based variable rate, whichever is higher. The market-based rate is currently 5.92% and rising. You can buy savings bonds at banks, thrifts and some credit unions.

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* Funds. If the little nipper is out of diapers, you may need an investment that appreciates a bit faster than savings bonds. Consider an equity mutual fund with an automatic investment program. While many mutual-fund companies require fairly substantial minimum investments, a few waive the minimums if you agree to invest small amounts regularly. Nearly a quarter of all fund companies have these programs, industry experts say. Call the funds that interest you and ask for further details.

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* College Aid. What about when college is just a few years away and the college-fund cupboard is bare? Buy your offspring--or yourself--”The Princeton Review Student Access Guide to Paying for College,” by Kalman A. Chany. This practical guide, explaining how student aid works, can help you land thousands of dollars in grants and loans. Price: $16. Available at bookstores.

* More Personal Finance: Reprints of “Live Well, Die Prepared,” Kathy Kristof’s advice on will preparation, avoiding probate and cutting the cost of medical treatments and funerals, is available from Times on Demand. Call 808-8463, press *8630, and select Option 3. Item 8523, $5.41, plus 50 cents delivery. Available by mail only.