{"id":3193,"date":"2019-11-05T15:17:56","date_gmt":"2019-11-05T07:17:56","guid":{"rendered":"https:\/\/www.investagrams.com\/daily\/?p=3193"},"modified":"2022-11-22T17:32:11","modified_gmt":"2022-11-22T09:32:11","slug":"christmas-bonus-how-to-spend-your-13th-month-pay-wisely","status":"publish","type":"post","link":"https:\/\/www.investagrams.com\/daily\/2019\/11\/christmas-bonus-how-to-spend-your-13th-month-pay-wisely\/","title":{"rendered":"The Christmas Bonus: How to spend your 13th month pay wisely"},"content":{"rendered":"\n

Christmas bonus stories: <\/span><\/p>\n\n\n\n

\u201cTara kain!\u201d<\/span><\/p>\n\n\n\n

\u201cUy, sale sa department store!\u201d<\/span><\/p>\n\n\n\n

\u201cSamgyup tayo mga besh!\u201d <\/span><\/p>\n\n\n\n

The next day: \u201cteka nasaan na pera ko?\u201d Usually pag nagkakaroon tayo ng additional income eto yung mga naririnig natin.<\/span><\/p>\n\n\n\n

Pero tama nga ba na dapat gamitin ang buong CHRISTMAS BONUS pang good time? Don\u2019t get us wrong. It\u2019s very important to also have a portion of your income spent on enjoying life. All of us work extremely hard to not only provide for our families but to also live a quality lifestyle. However, how much spending is TOO MUCH?<\/span><\/p>\n\n\n\n

If you\u2019ve been watching our<\/span> Personal Finance Series<\/span><\/a> here on Investagrams, you may recall our first episode where we tackled the state of the Philippines in regard to financial literacy. To cut it short, we\u2019re still a long way from where we need to be as a nation. Let\u2019s talk about a topic that often gets overlooked: <\/span>HANDLING YOUR 13TH MONTH PAY.<\/span><\/p>\n\n\n\n

You may be wondering, \u201cWhy focus on the Christmas bonus?\u201d You\u2019re right, there are so many other aspects we can focus on. We can talk about saving tips, budgeting strategies, and much more. However, we\u2019re zeroing in on how to handle your Christmas bonus because it\u2019s that time of the year again. While it\u2019s just a bonus, it is still money that you can make the most out of. Rather than using it all on luxuries, let\u2019\u2019s tackle how we can be smart about it; while still enjoying the bonus for the holidays!<\/span><\/p>\n\n\n\n

HOW TO HANDLE YOUR CHRISTMAS BONUS<\/strong><\/h2>\n\n\n\n

1. PAY BACK ANY LOANS OR DEBTS<\/strong><\/h3>\n\n\n\n
\"Pay<\/figure>\n\n\n\n

This may not be applicable to all. But, if you owe some money then it may be best to hold back on your samgyupsal cravings for a while. Take the Christmas bonus as an opportunity to pay off debts and lighten the burden on your shoulders. On a side note, try your best to avoid borrowing money from other people especially if it\u2019s only to satisfy your wants. Eating out is great, but definitely better when you don\u2019t have any debt worries after!<\/span><\/p>\n\n\n\n

2. GIVE BACK TO THE COMMUNITY<\/strong><\/h3>\n\n\n\n
\"Give<\/figure>\n\n\n\n

Christmas time has always been known as the season of giving. Donating to charities or simply doing a kind deed for someone in need can go a long way. Of course, you don\u2019t have to give your entire bonus away. Even small amounts can go a long way to impact the life of someone less fortunate. It\u2019s also just something nice to do, especially around this time of the year. Humans are social beings, so helping out a fellow human should come naturally.<\/span><\/p>\n\n\n\n

3. ADD IT TO YOUR EMERGENCY FUND<\/strong><\/h3>\n\n\n\n
\"Christmas<\/figure>\n\n\n\n

If you don\u2019t have one yet, then now is the best time to start! Conventional wisdom says that you should have an emergency fund greater or equal to at the very least six months worth of salary. Not everyone can set aside cash for an emergency fund since we all have different circumstances. However, setting aside just half of your Christmas bonus can be a great start! Always remember, we will never know when a black swan event may happen. Better to be prepared than face the consequences.<\/span><\/p>\n\n\n\n

4. INSURANCE. INSURANCE. INSURANCE<\/strong><\/h3>\n\n\n\n
\"Look<\/figure>\n\n\n\n

Speaking of black swan events, we will never know what may happen to us or any of our loved ones at any moment. As we\u2019ve said, it\u2019s best to always be prepared. You can use your Christmas bonus to begin investing in insurance. We won\u2019t go deep into the different types since that would take up a whole article of its own. But, as early as now you can start doing your own research on them. There are many kinds and there should be at least one that fits your current situation.<\/span><\/p>\n\n\n\n

5. MAKE YOUR MONEY WORK FOR YOU<\/strong><\/h3>\n\n\n\n
\"Make<\/figure>\n\n\n\n

Rather than spending your Christmas bonus on \u201cluho,\u201d why not invest it? It can be a great way to jump-start your investing journey! Anyone can learn how to invest, all you need is effort and dedication. To help everyone get started, we\u2019ve released some <\/span>guides<\/span><\/a> to help you understand the basics. Of course, you can go over our vast resources to find information on <\/span>fundamental analysis<\/span><\/a>, <\/span>technical analysis<\/span><\/a>, and many more!<\/span><\/p>\n\n\n\n

6. INVEST IN YOURSELF<\/strong><\/h3>\n\n\n\n
\"Invest<\/figure>\n\n\n\n

One of the best investments you can make is an investment in yourselft. No matter what you do in life, there\u2019s always a way for you to improve. May it be in the form of training videos, seminars, or books, investing in yourself is always a great idea. If you\u2019re a trader, one of the ways you can invest in yourself is getting the<\/span> PRIME ADVANTAGE<\/span><\/a>. If you want to take your trading to the next level, attain your most powerful trading partner in the form of the InvestaPrime+. Curious about how it works? Check this out: <\/span><\/p>\n\n\n\n

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