Where to put your Christmas Bonus?

“My idea of a perfect Christmas is to spend it with you… in a party or dinner for two… anywhere would do…”

Yes. I get sentimental sometimes and I sing these kinds. Thanks to Jose Mari Chan for this song.

But I think I’m not going to spend my Christmas with “the one” – whoever she is. Not yet. πŸ™‚ Hehe. I’ll be home and spend it with my family. Perhaps, “she” will do the same – spend it with her family.

Enough with those thoughts! Haha!! πŸ™‚

Let’s jump onto the main course now:

I bet most of you have received your Christmas Bonus? Has it flown away already? Is it resting in your bank account? Is it growing somewhere?

To those who are are about to receive it – Where are you going to put it? What are you going to do about it?

I have three suggestions that you may want to consider depending on the stage that you are in.

First, SPEND.

It’s OK to spend a percentage of it. Pay yourself. Do you need a new pair of shoes, shirt, or jacket? Do you have to buy one?

Perhaps, you will allot some for a simple dinner or for a noche buena with your family on Christmas eve. Maybe, a part for a tiny sweet gift to your special someone. Or as the song says, dinner for the two of you will do.

Yes. Spend some of it. And when you do, spend it wisely.

Don’t spend it all because you may have to consider this second suggestion —

SAVE.

If you have no emergency fund, I suggest you save a big chunk of it. They say that your emergency fund approximates your three to six months regular expenses.

By the name itself, this is to be reserved for emergency.

And if you already have this emergency fund, you have to stop putting more in your savings account – that may be earning 2-3% of interest per annum. With the high rate of inflation compared to this rate of interest, you are not growing your money – it’s value may be fading away without you knowing it. (Let us have a heavy discussion for this separately.)

So once you have saved enough, consider the third suggestion —

INVEST.

You can start your stock investments. With COLFinancial’s Easy Investment Program, wherein you will be guided to go for long-term investing, you can begin with only PhP5,000.00.

But be a learned investor. You cannot afford to be left alone venturing in the stock market. You need guidance.

You can join my mentor Bo Sanchez’s fantastic Truly Rich Club. You will receive powerful financial talks, wealth strategies, investment strategies, stocks update, and many more bonuses. Get to know of his amazingly simple and proven Strategic Averaging Method (SAM). You can download his free ebook My Maid Invest in the Stock Market (or better buy the physical book) and devour it so you will get a good appreciation of this technique and apply it. With the monthly updates and strategies to be sent to you, you will be guided accordingly.

Watch out for my upcoming ebook, too, Strike Not Spin – The Simple Way Young Minds Can Succeed in the Stock Market.

Books, seminars, and conferences are good investments to your education, too. At times, my friend Sha Nacino features worthwhile-to-be-attended seminars in her blog SeminarPhilippines.com.

So there you have it. With these three simple suggestions on where to put your Christmas Bonus, I hope you will get the most out of it.

And yes, echoing my mentor’s preaching – don’t forget to give back to the Lord — and He will open the floodgates of heaven to bless you even more – more than you can imagine.

Spend.
Save.
Invest.
Give back to the Lord.

Work your way to wealth. And never forget (as Bo Sanchez shares) that the ultimate purpose of wealth is to love others.

Live your life, young mind!

Chris Dao-anis

PS:

Join the Truly Rich Club now. Here’s my affiliate link: Towards Financial Freedom!

Join other young minds and get automatic updates. Subscribe to this blog at our home page here.

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4 thoughts on “Where to put your Christmas Bonus?

  1. I regularly here people say, “I don’t have money for . . . charity, vacation, clothing, etc.

    Everyone has money – well almost everyone – it just depends HOW they SPEND their funds (saving, investing, misc expenses, rent, food, clothing, tithing, etc.)

    I would recommend prioritizing spending this way .:

    1) Give back to the Lord – Blessings will abound! You can break up your monthly/annual alotted tithing this way: 1/3 to your church, 1/3 charity, 1/3 your community (of believers). If you don’t belong to a community (of believers), maybe it would be time to join one :). If your community is also your church, then you can double up your percentage of tithing (2/3), and the remaining to whatever charity you wish; there are plenty out there.

    2) Savings/investments for the future (near/far, short/long-term). The emergency fund Chris mentioned above should be focused on first, because if you lose your main source of income (work, business, etc.), you will need to survive for awhile until you re-group and you won’t be able to invest pay all your other expenses.

    In short, TAKE CARE OF YOURSELF FIRST – otherwise you won’t be able to take care of anyone else!

    3) all other necessary expenses – food, shelter, utilities, family, etc. I know a lot of locals have a “family” & “friends” expense: helping out those people that don’t have a regular source of income, or still need extra help. That’s okay, and continue to support them until they can help themselves. However, please give back fist to your higher priorities 1) Lord, and 2) savings/investments

    Lastly, in all circumstances – take care of YOUR HEALTH. If you don’t have good health, nothing else matters. Otherwise, pretty soon you won’t be around on this earth to spend any of your money that you saved/invested.

    Hope this helps, and make sure to keep each other accountable . . .

    HAVE YOU TITHED, SAVED, & INVESTED THIS MONTH?

    God Bless, Happy Advent, and have an even Merrier Christmas & New Year!

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