Buy a bed and spend your bonus wisely. Your bonus is a reward for your hard work this year. You have earned it. You deserve it. The last thing you want to do is squander it.
A bonus is a lump sum of money. Normally you receive money in small, incremental amounts. A bonus is an opportunity to buy a big-ticket item or to make some investments. This is a great opportunity to buy a bed.
5 Top Tips On Spending Your Bonus Wisely
Here are 5 Top Tips on how you could spend your bonus wisely:
Settle your credit cards and other debts
Buying on credit costs us money. Whilst it gives us the opportunity to buy immediately the things we need or want, we end up spending more for them. A big chunk of your monthly salary may be servicing that debt. Using your bonus to settle or reduce your credit card debt makes good sense.
Start a long term savings fund
Speak to a financial advisor about how best to save money. There are many different options like a retirement annuity, a unit trust account, or a tax-free savings account. South Africans have one of the worst savings rates in the world. Very few are able to retire comfortably. Don’t let this be you.
Create an Emergency Fund
“Rainy day savings” can save the day when an emergency pops up. Perhaps it is car trouble, a health issue, or even unexpected unemployment. Having some savings to fall back on will help you through tough times.
Buy a bed
A bed that provides you with the right level of comfort and support can help you sleep better at night. Sleeping well is vitally important for your health and energy levels. For eight hours of every day you will use your new bed. And a good quality bed can last you up to 10 years. Your bonus gives you a chance to buy a bed that is the best you can afford, and this is an investment in your well-being.
Spoil yourself a little
Set aside a little money from your bonus to indulge yourself. You deserve it. Reward yourself with something you love. It could be a fine dining experience for you and your partner; a visit to a spa; or those disc brakes you have been eyeing out for your bicycle.
The Festive Season is upon us. It’s a time to kick back a little and to relax. Make sure you take time out with family and loved ones.
This year spend your bonus wisely and reap the rewards for years to come.