We only have a couple of days left before December, which means Christmas bonus is coming! I know a lot of you have plans already on what to do with your money. This is a one-time big blessing since we only have it for December so you might really want to buy the things you really want—new shoes, phones, laptops, and more gadgets. But for those who are planning to spend it on things that don’t become valuable in time, let me help you find ways on how you can actually spend your money wisely.
Catch me in my live training events! (quick plug)
The heart of why I do these seminars is I want to build a generation of Filipinos with the right foundation in stock investing. I want to bring smart investing to every Filipino around the world! If you would like to know more about how you could time the market check out the trainings below.
If you want to get out of debt, use a portion of your Christmas bonus to pay off your loans. This is one way you can use your money in a good way rather than buying the material things you won’t really need. Some people would purchase expensive things to show off. Do not inherit that attitude because it will only make things worse for you if you have debts. So advice #1, pay your loans first before you get that new phone you’ve always wanted. Trust me, it’s easier to sleep without debts!
Not everyone wants to invest but if only they know the big news coming in after years of investing regularly, they would surely do it first. Whether it is your first 13th-month pay or your 4th, it’s never too late to start over. Use it to do something valuable. Start opening your investing or trading account and put some amount in it. If you can’t invest big money, you can at least put in the minimum value like 5,000 or 1,000 pesos. Do not buy your favorite expensive Nike shoes yet, put it in the company instead by buying stocks.
Last but not least is saving a portion of your bonus. This is one of the most useful ways to utilize your cash bonus. Do not hesitate to do it! Even if it’s just 30% or 50% of your bonus, it will do you good after several months or years of saving. When you save, you can buy more expensive things than what you can afford right now. You can even purchase your own properties if you do it regularly. Now, do what you have to do and set a percentage for your savings account.