EP:63 The Valentine’s Money

No romance without finance

Valentine’s Day is All About The Money.

Pay attention as you get yourself all wrapped up into Valentine’s Day. The flowers, cards and candy.  Watch your spending and the spending of your courtier, if your paying close enough attention you’ll be able to see early signs of good financial behavior or terribly irresponsible spending.  Either way while you sitting at that pre-fixe overpriced cold dinner looking into each others’ eyes, it’s a good time to ask, “hey, so how’s your credit?”.  Pay attention to the surprise in their eyes, or the pleasure to share such information in an attempt to communicate their openess to discuss finance and the future.  And when the bill comes back with no surprise “declined” comment, you realize …they might actually be a keeper.

-Miles.

Get your FICO Score with Score Watch® today! Click here!
Valentine’s Day Don’t Break the BANK

Valentine’s Day Don’t Break the BANK

Don’t Go Breaking the Bank for Valentine’s Day

Stay Focused for Valentine's Day
Stay Focused for Valentine’s Day

5 Ways to go Non-Traditional for Valentine’s Day and Show Your Love

Valentine’s day isn’t the go for it all break the bank to show your love day.  However, it is a good time to start making real moves to solidify your relationship goals by building the foundation of a relationship, finances.  No matter what you’re gonna have to make a showing of love with flowers, cards or candy. Just don’t get lost by becoming a retailer’s dream, instead, I have 5 things to focus on that are non traditional, yet great moves for solidifying a relationship that’s moving forward.

-Miles.

Valentine’s Day is About the Money

Valentine’s Day is About the Money

Valentine’s Day Spending

Love Motivates...
Love Motivates…

For 2015, Valentine’s Day falls on a Saturday, it can’t get any better than that for date night folks. Many a beau are scrambling around to get things in line for that special lady in their life. Flowers, candy, card, dinner, maybe a prepared meal in bed for the live in folks, a night out, or the hotel lobby… yes, the hotel lobby will be full all weekend. Hotels have a good strong weekend, as does restaurants, and all sorts of shops that sell candies and cards. A sort of a “black” weekend for retailers of all stripe, if they play their cards right, because people will go to any extent to show their love for one another at any cost. Then there are the expensive gifts such as jewelry, pocketbooks and bags, garments, shoes and even tickets to see favorite performers. These things to express as loud as possible feelings of “I Love You” and “You’re Important to Me”. I am no exception to this rule, and make it a priority to take the nationally recognized day as I do any other opportunity.  However, as of the most recent decade or so, I’ve kind of adjusted my focus more toward the object of my affection and more away from the profiting by retailers and restaurateur’s. No need in retailers getting a bonus because I’m in love, that just doesn’t make complete sense to me that every time I need to express my love, the see a profit. This can make things tricky, however, let the creative juices flow. You’re still going to need to buy gifts and such, just no need to get crazy with monies you don’t have or you may have but can be best employed differently. I don’t advocate being cheap at all, just mindful. For example, gold jewelry is and has been a bad purchase for the past several years since the recession. The price has gone up a few hundred times in the past 10 years! Paying outrageous prices for less than worthy gold jewelry isn’t a good move. As someone focused on value and prosperity you definitely should be looking elsewhere to get more value for your money. The other notoriously bad idea is dinner out, on Valentine’s Day restaurants are booked solid, many only offer a pre-fix abbreviated menu to select from and typically have slow, poor service with an up charge on top of all that. It can be roll of the dice, for most couples going out that night. Maybe a worthwhile roll I’ll admit, being together can sometimes overshadow some of the nonsense. Considering this blog if focused on prosperity and wealth, I think it only makes sense to keep that in mind and not lose sight of our individual goals just because it’s Valentine’s Day by going out and falling prey to all sorts of “give me your money to show you love” foolishness.

Being that it is Valentine’s Day and you do have someone special that you want to show you’re love for, here’s some really creative and interesting ideas on how to express just that.

  • Show your Love by making a statement and taking steps toward your financial future. Nothing says I love you more than actually taking concrete steps to build the foundation of your future with someone.
  • Open a joint savings bank account that the two of you can use to save money in for taking weekender trips or special nights out. Set up direct deposit for at least $25 – $100, or whatever you can afford per pay cycle to the account.
  • Open a joint brokerage account, select some stocks/ companies to invest in make bets with each other for the status of those stocks for the end of the year. Will your or hers be up or down? Maybe you like Nike who pays $1.11 in dividends quarterly and she likes “L Brands” which own Victoria’s Secret, they pay a dividend of $2.00 quarterly right now. Split the budget between the gift and joint asset purchase together or just go 100% for the joint asset purchase, have dinner in or out and continue living the next day like you have next days to be together. Check them and others out on http://finance.yahoo.com/
  • Choose a credit card or credit account or bill with high interest to make a payment on and schedule to pay it off completely.
  • If you must do dinner… It’s cool, just let it be a place that’s great so don’t settle. During dinner consider reviewing finances, things such as life insurance, credit status, beneficiaries, health checkups, children’s education savings and action plans for next day follow-up.

Buy U.S. Saving bonds in your names together. Go to www.treasurydirect.gov you can buy saving bonds together with both named listed or buy them under the children’s name if any.

I definitely am an advocate of the cards, flowers, candy and gifts- I like to just keep them in perspective. While some of you may be in relationships that aren’t that far along or you’re further along, any first steps or additional moves you make of togetherness is special for both people in the relationship. I know much of this is represents some very strong signals, but after all, when we spend a half of a paycheck or more that’s pretty strong signals too!

All of the overly priced gifts and meals won’t last very long, sure the memories will last a bit longer, however , recalling when you started to take a step toward building your future together will be unforgettable as it will continue on as your relationship lives on. Making moves to solidify your future together by building your finances together is a great way to say you’re the one for me. So when you say hey, let’s go to the bank and… or let’s go online and… or anything in that regard, it’s the “let’s” that is the important part.

Enjoy Your Love!