It is the season of love. And also that time of the year to give gifts to your beloved. This Valentine’s Day, move beyond fleeting gifts and surprise your partner with a financial present that adds long-term value.
This Valentine's Day, gift your partner long-term value with thoughtful financial presents like a SIP, travel insurance, loan payments, or financial literacy books
It is the season of love. And also that time of the year to give gifts to your beloved. This Valentine’s Day, move beyond fleeting gifts and surprise your partner with a financial present that adds long-term value.
Let us take a look at five such gifts:
Start An SIP: Being in love promises a future together, and what better way to lay the foundations for that future than to start a systematic investment plan (SIP) in the name of the person you love? You will just need to know your customer (KYC) documents, and you can start an SIP of any amount in an equity mutual fund. If your partner is not already investing, this will be a great start for their investment journey.
Buy Travel Insurance: If you and your partner are planning a trip together, or if your loved one is planning a trip solo or with friends, gift them a travel insurance plan. Travel insurance covers trip cancellations, medical emergencies, lost luggage, and flight delays. Trip interruptions, lost passports, and other emergencies are also covered. Policies also cover activities like adventure sports.
Pay A Part Of Their Student Loan: Everyone wants to pay off their student loan at the earliest. If your partner has a student loan, a one-time lump sum payment towards the loan can show that you care. In fact, some payment towards any form of debt like a credit card loan or a personal loan can be a very thoughtful gift.
Gift Financial Literacy Books: When it comes to finances, knowledge is power. One great Valentine’s Day gift idea could be to gift your partner some of the classic books on finances. While names like ‘The Richest Man in Babylon’ by George S. Clason, ‘Think and Grow Rich’ by Napoleon Hill, ‘Rich Dad Poor Dad’ by Robert Kiyosaki, and ‘The Intelligent Investor’ by Benjamin Graham are some of the all-time classics, there are a lot of other books out there.
You may even consider subscriptions to personal finance magazines and newspapers as a wonderful gift.
Create A Joint Investment Account: This gift is perhaps the most romantic of all. Opening a joint account and depositing some money in it can signify trust and shared goals. You can contribute to this together and plan for mutual goals like a shared vacation, or any other financial goal. This gift will show commitment to a shared future and blend love and practicality.
This is not to say that roses and teddies are passé, you cannot celebrate Valentine's Day without those, but these financial gifts will show your love that you care.