Love it or hate it – V-day is coming up again this week. If you’re in a relationship then you might be expecting the traditional flowers, chocolates, and jewellery and whilst it might be a rite of passage sometimes it can feel generic or a waste. Maybe something that caters to their interests would be more appropriate, like a devil may cry wall piece for a partner obsessed with home decoration, or a personalised pen for the budding writer. Though if you don’t want to spend on generic gifts but don’t know how to cater to your partner’s interests, what are you to do?
This Valentine’s Day, Emilie Bellet, Founder of Vestpod has a different kind of gift in mind. She has gone and challenged everyone to spend their money on something their loved one will really benefit from. Here are a few of her ideas on what to spend your money on this V Day:
– Open a savings account for a specific goal like a holiday and set up a direct debit to save up
Instead of spending money on gifts that don’t really matter, why not set up a joint savings account so that you can save towards a shared goal? This could be a once in the lifetime holiday, your first home or even for a wedding, you decide! You can then each set up a small direct debit and watch your savings grow until you reach that goal.
– Contribute to your partner’s pension
It might not seem very romantic but putting some money into your partner’s pension shows that you care about their long-term financial health. Whilst small tokens can be nice in the moment, this gift will keep on giving as compound interest means the pension pot will keep growing until they need it.
– Help them empower themselves financially
Getting on top of your finances is often something that we put off, so this Valentine’s Day why not make plans to sit down together and talk money. You might want to discuss a joint savings account or maybe even how you can invest your money into something like cryptocurrency. Of course, you want to invest your money into a legit app so take a look at this article on Bitcoin Equaliser is it a scam? Whilst not the most romantic thing to do taking time to sort out your money will help you both reap rewards in the future. Workshops like those held by Vestpod help individuals feel empowered about their finances and learn good money management.
– Make a small loan to an entrepreneur on their behalf
Through Kiva you can make a small loan – think £20- to a small entrepreneur around the world, not only helping someone start up their own business but once the loan is repaid your partner will get the money back. What’s more you can choose who to loan the money too and pick it based on your partner’s own interests whether that’s the arts, education or the environment.
– Or make a donation to a charity
If your partner is particularly supportive of a cause or charitable project why not give a donation to it on their behalf. They will see that you care about their interests and know that your support is helping a cause they feel passionate about.
– If you have children, contribute to their JISA instead
Whilst sometimes it’s nice to treat yourselves, on Valentine’s Day giving the money you both might have spent on gifts to your children instead can be a nice way to provide for their futures. Putting it into a junior ISA will make sure that it’s working as hard as you are as a parent!
