The small gifts used to fill Christmas stockings are often the hardest and most time-consuming to find. But Family Money has several fun fiscal suggestions to hang from the fireplace this season.

Shares are gifts that keep on giving for every age group. Over time, no other investment product has offered the same level of return and they are a great way to teach children the benefits of long-term investment.

All first-time portfolio builders should start with something they know and love. Prominent food, toy, electronics, environmental retailers, and sporting goods manufacturers are the best place to begin.

Toy producers may be a hit with younger kids while older gift recipients may prefer big name stocks they can follow in daily newspapers.

Once the stock is chosen and purchased, consider attaching the share certificate or notification of the investment account from a stockbroker to one of the products made by the company. Here are a few suggestions:

A new kind of Christmas cracker may be formed from chocolate bars rolled into a Cadbury's share certificate, then stuffed into crepe paper and tied with a ribbon at both ends.

Create an "investment" Barbie with the addition of an investment account notice in the child's name showing shares in Mattel.

Build a bank from Lego blocks and place share certificates in Lego and one of the Irish banks inside. Even if only the parents of young children enjoy the initial gesture, when the kids turn 18 and see their little nest egg they'll enjoy it too.

Think about the importance of diversification and buy more shares for the child or adult every year in different companies and sectors for birthdays and important holidays or religious events.

Make sure the child realises they now own part of the company that makes this product. Send the child interesting stories about "their company" if they're old enough to appreciate them.

All of these ideas may be adjusted for adult interests. When purchasing shares for a child, first discuss it with the parents as it means they must file a tax return for the child each year. If the shares are held in the adults' name it may have tax implications later, so discuss the options with your investment adviser and the parents. Most stockbrokers have a minimum investment amount, so call around to find which company may best meet your needs.

If shares are too much hassle but there is a windfall to be distributed to family and friends, remember you may gift £1,000 tax free to individuals in every tax year.

Conservative investors may shy from the risk of equity investment and prefer to purchase bonds, which guarantee the face value of the investment over a set period of time. These may also be purchased through investment advisers and brokers.

Of course, less expensive gifts are also an option. Throw caution to the wind and purchase lottery tickets for £1.50 (€1.90) or £2 Christmas Stocking scratch cards from the National Lottery. The old favourites, prize bonds, are still available from the Post Office and are £5, sold in blocks of two.

Prize bonds, unlike regular bonds, offer no return but give holders the opportunity to win tax-free cash prizes while guaranteeing the capital amount. Recipients have the option of cashing them in or holding onto them for a chance of winning a prize. Even winning bonds remain in force forever, unless they are cashed in.

Practical gifts may be among the most appreciated. Phonecards in denominations of £5, £10, £20 are always useful for students. A weekly or monthly bus or train ticket is a thoughtful gift for busy commuters. Store vouchers for books, CDs, clothes or household appliances are always a good bet for those moving into a new home. International gift vouchers are also available, over the internet from Globogift.com, for the well-heeled shopper.

Elderly people may appreciate a monthly taxi account for trips to the shops or doctor during the day. Everyone in the family should have a euro converter calculator, which is available from different manufacturers in a variety of price ranges.

Exhausted mums and dads and grandparents will love pulling guide books such as the Blue Book, Friendly Homes of Ireland or Hidden Ireland from their stockings on Christmas morning. These are a particularly inexpensive buy at £1 from Bord Failte tourist offices. If weekends away are not an option, consider offering parents your babysitting services so they may enjoy a night on the town.

Families that frequently travel abroad should consider buying themselves annual family travel insurance.

The most important gift this year may be the gift you give yourself. A pension top-up to the full amount allowed tax-free provides an immediate tax benefit and longer-term peace of mind.

The true spirit of giving is fulfilled through charitable donation by monthly standing order in the name of your children, grandchildren or special friends. Consider tailoring the choice of charity to their interests: cancer research, a hospice, child welfare or animal rights for a particularly meaningful gift.

Although they are part of the family, pets are often forgotten over the holidays. Consider making a donation to the Irish Society for the Prevention of Cruelty to Animals or local animal welfare organisations in "Fido" or "Fluffy's" name. It may be wise to consider purchasing pet insurance for older or sickly pets.