Happy Valentine’s Day: Think beyond roses and chocolates, secure your partner's future with these 5 financial gifts
Valentine’s Day serves as an occasion to make your partner feel special. In addition to planning a date and buying expensive gifts, try to gift your loved ones with something that can enhance their financial security. If your partner is not much into savings and investment, Valentine’s can be the occasion to initiate a conversation around financial literacy. Here are the top 5 financial gifts people can give to their loved ones on Valentine’s Day.
If your partner is in a private job and doesn’t have proper life and health insurance, this is the right time to discuss the need for one and finalise suitable health and life insurance products that suit their needs.
The age at which a person takes life insurance plays a crucial role in determining the policy benefits as well as its premium. That’s why it is always the best option to start your insurance policies at the earliest. Such policies appear as saviours the times of medical emergencies and help in the protection of the policyholder and family members.
Instead of buying expensive designer gold jewellery for your partner or loved ones, try to invest in sovereign gold bonds (SGB), digital gold, Gold Exchange Traded Funds (ETFs), and Gold funds. Many of these investments also offer tax benefits and offer better value on sale compared to gold jewellery.
People who are new to the share market can also use Valentine's Day as an occasion to begin investing in Mutual Funds. MF investments are one of the safest ways to begin investing in stock markets. They also come with certain benefits and security features. People can choose from three different categories of MFs, ie large-cap mutual funds, mid-cap mutual funds, and small-cap mutual funds.
MF works by pooling the money
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