Second-guessing other people's tastes while barging your way through city crowds and formulating a successful queue strategy is hard work.Seasonal shoppers who cannot keep up with the pace may decide that this is the year either to shun the commercial side of Christmas altogether or opt for cash gifts all round.

But while crisp euro notes hiding between the folds of a Christmas card may be well appreciated by younger recipients, a range of financial products can double up as more thoughtful gifts.

Some are long-term investments, others are educational and more still involve taking a gamble on the stock market.

For example, Delta Index, an Irish-owned financial spread betting company, is offering each new participant a Christmas bonus of €100 if they open an account worth €400 before December 23rd.

"We see this offer appealing particularly to executives whose husbands or wives are looking for a Christmas present and know they enjoy second-guessing the stock markets," says Delta Index's chief executive, Mr Conor O'Neill.

The bonus is granted to customers who keep their account open for six months and make five round-trip trades.

The company has also just introduced an online trading simulator allowing people to test their spread betting skills without spending any money.

Financial spread betting, where people back hunches on the direction of share prices, stock market indices or currencies, is treated in the same way as gambling. There is no income tax, no capital gains tax and no stamp duty.

So by opening an account on behalf of someone else, you are not tying them into complicated tax return requirements.

For adventurous gift-buyers tuned into the stock market, buying shares on behalf of someone else as a gift is not unheard of, although not exactly widespread either.

Mr John Lowe, managing director of Providence Finance Services, says there is "a fun element" to buying shares on behalf of children. They can display branded share certificates on the wall and get half-yearly statements from the company.

"You have to keep the shares in trust for people under 18, but you can still have their name on it," says Mr Lowe, who has bought 100 shares in Manchester United on behalf of his son.

Anti-money laundering legislation requires that the identity and home address of each investor is verified by the financial institution, Mr Ian Mitchell of Deloitte pensions and investments notes.

"This will have an obvious implication for parents, grandparents, friends etcetera seeking to effect these investments on behalf of another," says Mr Mitchell.

"Don't forget a substantial Christmas gift investment could have gift tax implications," warns Mr Liam Ferguson, financial adviser at Ferguson & Associates.

The thresholds for gift tax are high. A child can receive gifts of up to €381,000 a year tax-free, other relatives can receive up to €38,100 and other people can receive up to €19,050.

The first €1,250 of all gifts received from any one person in a year is also exempt.

Mr Ferguson says he occasionally receives inquiries from clients about "financially educational" gifts. "I tell them to try www.oneshare.com."

Oneshare.com is a Californian-based company with the sole aim of promoting "the gift of equity" - making it as easy to give stocks as it is to give socks.

With a fee of $39 (€32.80), a frame price of $44 and shipping costs of $39, buying from Oneshare.com is not exactly cost-efficient, while many of the shares on offer, such as Krispy Kreme Doughnut and Martha Stewart, will appeal mostly to the US market.

The site, however, also sells educational tools for children that include stock tracking sheets and online investment games.

Everything from piggy banks for five-year-olds to sophisticated household budgeting software such as Microsoft Money can be wrapped up and left underneath the Christmas tree as a timely if unwanted reminder of the importance of keeping control of daily expenditure.

Parents, grandparents and other relatives might choose this time of year to buy An Post savings certificates on behalf of children or make a contribution to a child's savings account.

Most banks will include a moneybox and a deposit book with their child savings accounts. Ulster Bank's Henri Super Savers Club Account makes a special effort to make the idea of saving exciting for kids, throwing in comics, calendars, posters, stickers and balloons.

If trees are on people's minds in the run-up to December 25th it is normally in the context of dragging one home in the boot of the car, dressing it with tangled strings of multi-coloured lights and hoovering up the pine needles afterwards.

But firs, conifers and spruces all represent a very green investment option.

Buying a share in a forestry plan sold by a company called Irish Forestry Services can be done for a comparatively low minimum investment sum of €750 per share, Mr Lowe notes. "It's a way of ensuring that the money is not spent down the pub."

The projected tax-free rate of return is 9.2 per cent per annum. The latest plan has just closed, however, the company is taking inquiries for its next plan. A handful of shares in older plans are also for sale.

The plans invest in semi-mature forestry and bare land that will be planted utilising EU and Irish Government grants.

After a 10-year term, the plan will be wound up and the afforested lands sold on the open market, with any profits distributed to shareholders.

Pets are popular Christmas day surprises and are, as the saying goes, for life.

The good news is the possibility of a longer, healthier life for cats and dogs has grown alongside progress in veterinary medicine. The bad news is that the availability of certain treatments significantly increases potential veterinary costs for pet owners.

The idea of insuring a pet might seem like just another household expense, but it could bring peace of mind to owners of canine and feline friends.

One in three pets need unexpected treatment every year, according to First Call Direct, the only provider of pet insurance in the Republic. Most pets can be insured any time from when they are eight weeks to eight years old.

The cost of Petplan starts from €57 a year for cats and €90 for dogs. The policy covers up to €3,200 in veterinary fees, plus other benefits such as third party liability, theft and recovery costs.

Another insurance-related gift parents can give grown-up children involves adding their name to their motor insurance policy: it will usually be cheaper than if they were to look for cover in their own right.

Finally, prize bonds are another financial gift that smoothes over the awkwardness of handing over a crumpled tenner. Recipients of the bonds may be happy to know that they can cash in the bonds at any time.

Prize bonds can be purchased online at www.prizebonds.ie, by telephone or at post offices. They are sold in units of €6.25 each with a minimum purchase of four units, or €25.