Are you getting the bonus? What have you used? 

After working hard in your workplace last year, it’s the time of the year, and hope you will be ready to run in your own way with huge energy, fresh and energetic for a better future at the beginning of the new year. In addition, it is also the time of recognition of the efforts made in the previous, the bonus, benefits and promotions are usually given.  

The bonus is not like your ordinary salary. So, if you get a bonus, you will have to manage and divide carefully how you will use it.

Otherwise, you will end up using things you don’t need, and your extra bonus money will disappear in the air. Here are the simple ways to use all bonuses you get.

1.     Only spend what you have

This is not a bonus either salary or even when you have other income, it is important that you haven’t overspend your income.

2.    Pay off your debts

Paying off your loans as quickly as possible while you still have money, and it will free you from the burden and lead a lighter, debt-free life. If you leave your debts without paying them off first, you will end up with more debts.

3.    Build an emergency fund

Some might call it an emergency, but the freedom fund sounds more like something you want to run towards. If something happens and you need to use it, if you take it out of your income now, you will have some help for yourself when you have a financial problem.

4.    Start your retirement savings

If you ask yourself first that you are still young and need to think until you’re old, the answer is yes. It isn’t wrong to prepare in advance. If you think ahead about the money you earn for the time when you get old and save even a little bit, it will be less difficult for you when you are old enough to draw a pension.

5.    Treat yourself

That’s true. These earnings are collected by yourself, so sometimes you should reward yourself. Going out to dinner at a five stars restaurant, or a shopping spree can bring you satisfaction worth the money spent.