Valentine's Day gift box

Valentine’s Day is here again and your partner is probably expecting the traditional gift baskets including flowers, perfumes exotic biscuits & chocolates from you. I’m not here to discourage you from buying these gifts, but this article is aimed at opening your eyes to gifts that can last longer and leave a lasting impression on your partner.

Here is a list of financial gifts you can get your partner:

Buy Treasury Bills for Your Partner

Treasury Bills (Tbills) are short term debt instruments issued by the government to raise money. Tbills are issued for 91, 182 or 364 days and are risk free – which means you cannot lose money investing because it is backed by the full faith and credit of the Federal Government.

To purchase Tbills, all you need to do is walk into your bank with your personal information and indicate the amount you want to buy, as well as a bid rate. The bid rate is the likely interest rate that you have indicated to receive for the principal you are investing.

You can buy Tbills for your partner for as low as N100,000 (banks pooling system) and in multiples of N1000 thereafter.

The feeling your partner will get when the account will be credited by the Central Bank will be unquantifiable.

Online Course on “Managing Your Personal Finances”

Knowing how to manage your finances is a very important skill that everyone has to deal with.

There are a number of unfortunate incidents that can occur to anyone – divorce, depression, illness – with money being at the centre of it all.

Paying for this course will enable your partner take control of his or her financial destiny by learning certain valuable skills that will provide a meaningful and stress free life.

This course will enable your partner learn the following:

  • Live within financial means
  • Set up a budget and follow through on it
  • Track spending in order to meet financial goals

Websites like Udemy and Coursera offer this course for a decent amount.

An Insurance Policy

No matter how careful we are, unfortunate incidents will always happen. Insurance plays a vital role in compensating for loss and ensuring that your security and wellbeing are maintained.

Below are insurance policies you can buy:

Asset All Risks Insurance

This policy can cover your partner’s special assets like phones, laptops and jewellery, wristwatches, ipads, etc. against unexpected risks like theft, for example.

Motor Comprehensive Insurance

If your partner has a car, you can buy a motor comprehensive insurance for them. The benefits offered by this policy include loss or damage by fire, theft, damage to third party properties and third party bodily injury or death.

Personal Accident Insurance

A personal accident insurance will cover your partner from bodily injury solely and independently of any other cause by accidental, violent, external and visible means resulting in death or permanent disablement or temporary total disablement.

Note that purchasing this policy for your partner will depend on the type of job your partner is engaged in and whether or not he or she is on any insurance plan already.

Open a Domiciliary Account

You can expose your partner to the importance of opening a domiciliary account. The advantage is that your partner will be able to save money in global currencies that are reliable without losing its value. In addition, your partner can also receive foreign currencies directly into his or her ‘Dom account”.

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