Gelt, means "money" in Yiddish and German (in which it is spelt "Geld"). Money Money is any marketable good or token used by a society as a store of value, a medium of exchange, and a unit of account. ... Yiddish (ייִדיש, Jiddisch) is a Germanic language spoken by about four million Jews throughout the world. ...
Chanukkah gelt ("Hanukkah money") is used as part of a game on the Jewish festival of Hanukkah Hanukkah menorah on the eighth night of the festival. ... // The word Jew (Hebrew: ××××× transliterated: Yehudi) is used in many ways, but generally refers to a follower of Judaism, a child of a Jewish mother, or someone of Jewish descent with a connection to Jewish culture or ethnicity; and often a combination of these attributes. ... Hanukkah (×× ×× , or ×× ××× ) is a Jewish holiday, also known as the Festival of lights. ...
"Gelt" is a Yiddish term for "money." Although it is an old and cherished custom, the roots of gelt-giving go back much further than the Middle Ages, the era in which the custom is usually said to have originated.
Then, it was traditional to give Hanukkah gelt to the local Jewish teacher; in fact, it was his primary means of support.
Whatever your source for Hanukkah gelt, it is always a wonderful tradition to put some of what you receive into a tzedakah box in order to share your good fortune with those in need or for a good cause.