Valentine’s Day is just around the corner, and you might be thinking of giving your special someone a gift. However, chocolates, flowers, candy hearts, and jewelry can be cliché. Besides, you probably already have everything you need, and it doesn’t make sense to clutter the house with more stuff. So, here’s a unique Valentine’s Day gift guide you might want to consider.
1. Give the Keys to Your Apartment or House: If you’re ready to take your relationship to the next level, giving the keys to your apartment or house can be a great way to show your feelings. This doesn’t mean you have to move in together, but it can be a significant step. If you end up living together, you can split the bills, resulting in long-term savings for both of you.
2. Invest in His or Her Future: If your partner wants to take a class that could open doors to more career opportunities, offer to pay for it. If your partner wants to start a business, give a small cash investment to help start it, cover the cost of business cards, apply for a business license, or create a website.
3. Redeem Your Credit Card Rewards for a Trip: If you want to give a special gift but don’t have enough cash, redeem your credit card rewards points for a gift card or book travel. You may not have enough to book a hotel or one plane ticket, but every little bit helps.
4. Help Pay Off a Loan: If your partner struggles with student loans, a car payment, or credit card debt, offer to help pay some of the balance to reduce the principal.
5. Add Them as an Authorized User: If your partner doesn’t have a credit history, add him or her as an authorized user on your credit card to help establish their credit. However, it’s crucial to set limits and monitor the balance, but your credit habits will benefit his or her credit score.
6. Offer a Savings Match: Even though some people are diligent about contributing to a 401(k), they struggle to build an adequate emergency fund. Offer a one-time or continuous savings match to help jumpstart your partner’s savings goals. Suggest opening an online high-yield savings account to show off your financial savviness.
7. Give the Gift of Stock: Rather than cash, give the gift of stock by transferring shares or purchasing individual shares from companies like SparkGift or StockPile. In the long run, it comes with a higher return and can help your significant other learn about investing. Plus, for us money nerds, there’s the excitement of watching the stock increase in value.
8. Buy a Life Insurance Policy: Consider taking out a life insurance policy in your name with your significant other as the beneficiary. Make sure you understand the different policies: term life insurance is attractive because it’s less expensive, but you could outlive the short-term policy. Whole life insurance provides coverage for your entire life but is more expensive.
