Be a good steward of this13th Month bonus and use it wisely. You only get this once a year so make sure you maximize its potential to grant you financial freedom. (From a Lenddo Philippines Article) 1. Don’t splurge it all on Christmas gifts! You did not work all year-round and get this bonus just to give it away to your relatives and godchildren who just might forget your thoughtfulness when another “Ninong” trumps your holiday present. Being frugal is not a sin. Think of other creative ways to show your love to them without too much cost. 2. Do clear yourself from any outstanding debts. Pay off credit card balances, money owed to others, unsettled bills and others. It’s good to end the year with a clean financial slate and start the next year debt-free! 3. Do allot for your emergency fund. While we do not anticipate any bad situations happening, it can catch us off-guard. Having “rainy day” savings, solely for emergency purposes — unemployment, hospitalization, and calamities among others — will rescue you and your family from a big blow in your current finances. 4. Do invest in worthwhile endeavors. Put it in a time deposit, mutual fund, insurances such as life and educational plans, stocks and bonds or set up a small business. Make your 13th month pay grow and let it work to your benefit. 5. Do remember the principle of sowing and reaping. Firstly, tithe 10% of it then sow your blessings in your local church to fund their outreach activities and missions, share them with charitable organizations that uphold your advocacy, or just simply bless someone who is in dire need of a financial assistance without asking them to pay you back. As you sow generously, expect to reap generously — so anticipate that 13th month pay to increase in leaps and bounds. 6. Don’t forget yourself. Remember this is your 13th month pay. Your company gave it to you as a pat on your back for a job-well-done the past year. So reward yourself but don’t overindulge. Take 15% at most from it and treat yourself. Then put the rest of the amount in your personal savings as your incentive for being financially disciplined with your Christmas bonus.
Posted on: Fri, 05 Dec 2014 03:19:12 +0000
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