Pimp Your Finances

Valentine’s Day is a hard holiday to shop for.  And I don’t mean money-wise.  I’d gladly spend hundreds on a gift if I knew it would have the desired effect of making the love of my life feel special.

But more often than not, the problem lies in the thought that goes into a gift, not its cost.

So how do you pick out a gift, when flowers and candy are cliches, and you don’t trust your taste in jewelry?  I have a bold alternative that can better than any gift – if you do it right.

Instead of buying a gift for your special someone, try to think about what is really important to them.  It should be a cause that they care deeply about.  Then, in lieu of a gift, make a donation to that cause on their behalf.

If done properly, it will show how much you understand your significant other.  That sense of understanding can go further than any amount of money.

It’s what I did for my wife at Christmas, and it’s what I’m doing again for Valentine’s Day too.  And she doesn’t mind it one bit (as far as I can tell).  She actually told me to not get her anything, but when I suggested that we make a donation to the Humane Society instead of getting each other gifts, she gladly went along with it.

The decision was not motivated by money in any way, but it does have some financial benefits.  Making a joint donation will probably be cheaper than the cost of exchanging gifts.  And if you donate to a non-profit group, the donation is actually tax deductible, so you’ll get anywhere from 10-25% of it back when it comes time for taxes next year (just make sure to save your receipt).

There are other benefits too… such as knowing that you’ve helped someone in need.  It’s important to help those that are less fortunate than us, especially when times are hard and the economy is down.

So this Valentine’s Day, try something different.  You might be able to impress your significant other and save some money, all while helping a good cause.  It’s a win-win-win situation.