Gift Each Other Financial Stability This Valentine’s Day – #CoupleGoals

I firmly believe a couple should work on their financial stability in the first few years of their marriage. That’s what we did. We ditched the idea of owning a car and used that money for the down payment on our apartment. We were young. We had the resolute and energy to use public transport. We were smart and determined to make these adjustments fun. That one decision has helped us to have a sound foundation. When a couple has money, they are in a slightly better situation to deal with other problems in life. So I always suggest to my cousins and friends to make sacrifice in the initial years of their marriage to have a secured life. But for that to happen a couple must work together. And if you are not on terms, one of you must take initiative and make it a Couple Goal. This Valentine’s Day take charge and gift each other financial stability. Following are some smart, meaningful, and necessary gifts for a couple’s financial security.

Life Insurance to Say ‘You Care’

Most of us take insurance for tax benefits. Who thinks about accidents, disability, or death in their 20s, right? It’s a sensitive and sad topic. But the reality is harsh. So be prepared. Buy life insurance and give your spouse financial security. This may not have the mushy-mushy Valentine’s vibe but it is the most sensible gift. It says ‘You Care’ and ‘You’re responsible’ in many ways. If you are parents taking life insurance is more than necessary. Take life insurance and make your spouse the beneficiary.

Recurring Deposit for the Unfulfilled Wishes

I’m straight away going from Insurance to RDs because I believe in planning for the smallest of things. Because it’s the smallest of things we neglect. Recurring Deposits is the easiest and simplest of financial gifts. In case your 10 year anniversary is coming or you are planning a vacation a long time, or you promised a solitaire to your wife  – give your wishes a concrete shape. Transfer a sum in your spouse’s account and tell him/her to start RD. Add standing instruction from your account to transfer money for the rest of the term. Always start an RD in your spouse’s account to make them feel special.

Mutual Funds to Reach Financial Targets Sooner than Expected

To help your money grow faster, choose investment over savings. Money begets money. As a couple, you’d enjoy more if you meet your financial targets soon than expected. Modern day couples are debt-free in their 30s. 40s is the time they enjoy with their families. Strive to be that kind of couple. Gift a good mutual fund investment to your spouse that gives better returns than Fixed Deposits. Grow as a couple financially, too.

An Emergency Fund for ‘I Told You So’ Moments

I want my husband to gift an Emergency Fund to me. It’s the most unconventional gift. Most of us have strong financial commitments till we are 40. There is no room to spare even a single rupee. And, God forbid, if there is an emergency, our only alternatives are to borrow or withdraw an investment prematurely. In these situations, one of the partners often says, ‘I told you so.’ Avoid that. Gift your partner an emergency fund from which they can withdraw when need be. Start the fund this Valentine’s Day by making a contribution. You can make it a joint gift – both can contribute to it when you have surplus cash.

Buy Shares to Build a Strong Portfolio/Relationship

This Valentine’s Day invest in the share market. Make it a fun activity. Sit down with your spouse and do research. Make a list of share you need to build a strong portfolio. And spend your hard earned money in the stock market rather than on a fancy dinner. A joint decision to invest brings a couple together. Set a long-term target and make it a couple goal.

Buy or Make Spouse Joint Owner of your Property

If you are the sole owner of your house, what better day than Valentine’s to add your spouse’s name in the title? It would give them a sense of ownership and security. In case you are planning to buy property, get it registered as joint-owners. Enjoy savings on registration fees while gifting the biggest sense of security to your spouse.

Gifts express love. That’s why people choose them carefully. A thoughtful gift that ensures financial stability brings positive changes in a relationship. So this Valentine’s Day choose these gifts over the regular ones.