These gifts must surpass a bracelet, necklace or ring.
Most important points:
- Many people shower loved ones with gifts on Valentine’s Day.
- Instead of going with jewelry, consider a financial gift, such as stocks or a credit card with rewards.
Whether you’re a fan of Valentine’s Day or not, the reality is that there’s a lot of pressure to pull out all the stops. That could mean cooking a romantic dinner (or outsourcing it to a local restaurant chef), buying flowers, and giving your partner a meaningful gift. If you are like many people, jewelry may be your favorite gift.
But here’s a better idea. Rather than risk losing your budget and choosing a piece of jewelry that may not quite suit your partner’s tastes, consider gifting financial stability and opportunities for capital growth. Here are three specific financial gifts to watch this Valentine’s Day.
1. A new joint credit card with great rewards
If you and your partner share expenses and credit card bills, a new credit card with a solid rewards program is a gift your loved one will appreciate. Think about the things you and your partner spend the most money on. If you like to eat out, look for a credit card that gives you extra money back at restaurants. If you think you’ll be traveling a lot this year, opt for a travel rewards credit card that comes with benefits like free checked baggage. If you use your joint card a lot, it will be the gift that keeps on giving.
2. A well-thought-out budget
Setting up a budget isn’t necessarily rocket science, but it does take time. That’s because you need to sift through your bank account and credit card statements to see what your various accounts amount to and find out how much of your income should be allocated to each spending category. If you’re willing to put in the time, gifting your spouse the gift of a household budget can really go a long way. Once you have that budget, it may be easier to boost your savings and work toward your common goals, whether it’s throwing money away for a vacation or buying a house.
3. Shares in a securities account
Shares of stock in a brokerage account may not be the most classically romantic gift, but it is one that can make your loved one rich over time. Not only do stocks have the potential to gain value, but many stocks also pay dividends, which are usually paid to shareholders on a quarterly basis. Those dividends can then be paid out and issued, or they can be reinvested to help the assets grow over the long term. You can even get cute and offer your partner shares of a company as well as its product, for example a share of Netflix and a subscription to the streaming service.
Give a gift that really matters
There’s nothing wrong with spending a small amount on a token gift for your partner this Valentine’s Day. But before you spin your wheels and make a big withdrawal from your bank account to pay for a lavish gift, consider these financial gifts. They can all have a huge impact over time, and that’s something your partner might appreciate a lot more than a nice set of earrings.
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