PERSONAL FINANCE
New York Life | February 27, 2024
Life is too short. But 2024 is a Leap Year, so we get a whole extra day to enjoy life (thanks, Gregorian calendar!) We’ve got five great ideas for making the most of ‘Leap Day’.
1. Propose marriage!
Although these days anyone can propose to anyone they like, according to an old Irish tradition, February 29 is ‘Bachelor's Day’, when women were allowed to propose marriage. If the man refused to accept, he had to pay a penalty, specifically, to buy the woman a silk gown, or 12 pairs of gloves (to cover the shame of a lack of engagement ring!) Call us romantic, but once you’ve decided to tie the knot, there are a few things you might want to consider about marrying your finances, from setting up joint accounts to income protection in case one of you suffers the unexpected. We can help you plan for life after marriage – find out more.
2. Be a friend
Friendship is one of the most important things in life. But in our busy lives, it’s hard to make time to maintain relationships with our friends; it’s all too easy to drift apart. So, this Leap Day, make someone’s day. Pick up the phone for a catch-up with an old buddy. Reach out to a co-worker for coffee. Bake a batch of your best cookies and knock on your neighbor’s door. In fact, scientific research1 found that the effect of keeping up friendships on life-span is the equivalent to that of quitting smoking!
3. Spring clean your finances
Leap into money action! ‘Fix finances’ is usually up there on our to-do list, but, like clearing out the attic, we often put it off. So, take Leap Day’s bonus time to give your finances an early spring clean. There are few things more satisfying in life than hard work, so imagine how good you’d feel if you filed your tax return! Then you can reward yourself with a treat. How about those cookies? Or a silk gown? Here’s some advice on how to spring clean your finances.
4. Take a break
Give me a break! Well, this Leap Day, you got it! We all devote time and energy making life better for those around us, but it’s hard work. There’s nothing wrong with needing a little me-time. Recharge your batteries with a day, or just an hour or two on the day, to yourself. A break helps to reduce stress and improves one’s productivity. So put your phone on silent mode and go for a walk in the park, watch an old favorite film, or bake those cookies!
5. Insure your family's future
Time is precious, and peace of mind is priceless, so use your Leap Day time to build a better future for your family. Insurance should be a key part of your protection plan. The earlier you get it planned (the younger and healthier you are) the less life insurance costs. Remember that the cheapest option isn’t always the best, so choose solutions that fit with your needs, and even consider a combination of term and permanent life insurance, so you have the right benefits for you. Whether you look after your family by sharing your cookies is up to you!
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Kevin Maher
New York Life Insurance Company
(212) 576-7937
Kevin_B_Maher@newyorklife.com