Financial gifts that mom will love
An anti-wrinkle cream perfume or earrings could make a smile to your mother this May 10. But how would you like to take care of her and indulge her differently? Yes giving you protection and financial freedom. During pregnancy and the first months of childcare women interrupt their work or academic activities for long periods. As they devote most of their strength and resources to the upbringing and education of their children.
It is time to give them back some of what they have done for you. With these financial gifts you will prolong the celebration of mothers all year and more. A credit card will help you to cope with emergency expenses or to finance a trip, make payments for services or do some remodeling of the home, for example.
To process it you only have to present the official identification of your mother in the bank where you have your credit card and they will give you an extra plastic. You can limit the balance of that additional card and control the expenses. Remember that if she falls into default, the debt is yours.
The credit card is not an extension of the income, it is a money that the bank lends, its good use allows to reach important goals explains Alejandro Bosque, director of deposits of Scotia bank and coordinator of the Committee of Financial Education of ABM.
Moms are excellent administrators of the resources of the home, because nothing must be missing so that their family is well however, between school and day-to-day expenses, their savings for old age is forgotten. There are investment funds for five, 10 or 20 years from 1,500 pesos per month, which in addition offer life insurance for the same sum you, save. Life insurance applies to death total or permanent disability. At the end of the period, this product guarantees you get your savings plus a performance.
The gain will depend on your mom’s financial profile or goal, even if you are paying. “The yield goes from 2 to 5% if it is a conservative fund or 9 to 10% if it is a risky profile. These returns are before inflation, “says Martin Rosa, commercial manager of Old Mutual. Savings accounts in a bank open from 50, 100 and 1,000 pesos and you can deposit them monthly from 100 pesos, with payments made to your credit card.
They pay 1 or 2% interest per year, so what is advisable to obtain returns is to pass the accumulated money to an investment fund, says del Bosque. Some may charge you an administration fee or ask you to keep a minimum balance. Others will allow your mom to dispose of her balance at the time she wants through a debit card and some will retain the money by installments.
According to the World Health Organization, the main causes of death for women between the ages of 25 and 44 are heart disease and breast cancer. Senior medical insurance is a costly gift, but it assures your mother of medical protection against any illness, treatment or operation you need.
The insurance simulator for older medical expenses of the shows that a policy for a woman of 40 years, with a co-insurance of 10% and a deductible of 7,500 to 10,500 pesos, with an insured sum of 50 million, can cost 19,661 pesos annually. If the sum insured is 100 million pesos, it can increase to 35,536 pesoshttp://www.finance4founders.com/financial-gifts-that-mom-will-love.htmlhttp://www.finance4founders.com/wp-content/uploads/2017/05/Financial-gifts.jpghttp://www.finance4founders.com/wp-content/uploads/2017/05/Financial-gifts-150x150.jpgFinancial Tipsgood mothers day gifts,mothers day ideas