8List.ph
  • News
    • Showbiz
    • Opinion
    • Sports
    • Profiles
    • Weird
  • Adulting
    • Career
    • Money
    • Health
    • School & Learning
    • Relationships
  • Pop
    • Movies & TV
    • Music
    • Books
    • Games
    • Theater
    • Retro
    • K-World
  • Lifestyle
    • Style
    • Beauty
    • Food & Drink
    • Nest
    • Tech
    • Travel
    • Pinoy
  • Videos
    • 8List Asks
    • Pagsubeks
    • Kaya Today!
    • Archives
      • 8list Plays
      • 8List Explores
      • 8List Presents
      • 88 Seconds
      • 8secs
      • Filgood
      • Isabuhay Ang Panata
      • #8MinutesWith
      • YOUth DECIDE
      • Str8 Up with Delamar
      • Toughest Job 2016
  • H8 Mondays
  • Breathe
  • About
  • Sitemap
  • Advertise
  • Privacy
  • Archive
  • Bitesized.ph
  • Windowseat.ph

 

 

 

8List.ph is published by ID8, Inc.

Subscribe
8List.ph
8List.ph
  • News
    • Showbiz
    • Opinion
    • Sports
    • Profiles
    • Weird
  • Adulting
    • Career
    • Money
    • Health
    • School & Learning
    • Relationships
  • Pop
    • Movies & TV
    • Music
    • Books
    • Games
    • Theater
    • Retro
    • K-World
  • Lifestyle
    • Style
    • Beauty
    • Food & Drink
    • Nest
    • Tech
    • Travel
    • Pinoy
  • Videos
    • 8List Asks
    • Pagsubeks
    • Kaya Today!
    • Archives
      • 8list Plays
      • 8List Explores
      • 8List Presents
      • 88 Seconds
      • 8secs
      • Filgood
      • Isabuhay Ang Panata
      • #8MinutesWith
      • YOUth DECIDE
      • Str8 Up with Delamar
      • Toughest Job 2016
  • H8 Mondays
  • Breathe
  • Adulting

The 8 Dumbest Things You Could Do With Your 13th Month Bonus

  • Posted on Dec 3, 2019Dec 3, 2019
  • 3 minute read
  • Cristina Morales
Total
49
Shares
49
0
0

If we’re being honest with ourselves, the most wonderful time of the year doesn’t really start until we’ve got our 13th month pay finally fattening up our payroll account. While it’s tempting to rush to the mall and go on a shopping spree, slow down. If you spend your Christmas bonus recklessly, you could end up empty-handed before you know it. Here are some of the worst things you could do with your 13th month pay, and what you should be doing instead.

Not set a budget

Almost all of the following mistakes can be avoided if you have a solid strategy in place. Have a gameplan. If you have outstanding debt, use a significant chunk of your bonus (say, 80%) to pay it off, then do what you like with the 20%. Or you could save half of it and have fun with the other half. List down the items that you plan on buying to see what you’re working with. Once you start being more intentional with your money, you’ll be surprised by how much you’re able to stretch every centavo.

 


Put off paying your debts

Running away from your debts won’t make them go away. In fact, it’ll only make them grow bigger. This is why the first thing you should do as soon as you get extra income is to get rid of any outstanding debt. The sooner you start paying it off, the less you’ll have to pay in interest later on. Which means that in the long run, you’ll have more money to spend on the fun stuff.

 

Spend it all in one go, just cause you can

It’s perfectly fine to treat yourself every now and then, but it’s way too easy to go overboard. Instead of making it rain like there’s no tomorrow, come up with a strategy. For example, you could set aside 20% of your bonus so you can spend it on yourself, and save and invest the rest.

 

Make bad purchases

When you’re buying something, make sure that you’re getting your money’s worth. You might think that buying the cheapest version of something could save you some money, but sometimes, buying cheap could end up costing more in the long run because you’ll have to keep replacing them. Now that you have some extra cash to spare, why not invest in high-quality items that will last for years to come?

Broke? Here Are 8 Things You Should Stop Spending On NOW
Broke? Here Are 8 Things You Should Stop Spending On NOW
Cristina Morales | May 17, 2019

 

Leave investing for another day

You probably already know why investing your money is an important part of your financial health, but when are you ever going to put this knowledge into practice? If investing in stocks is too intimidating, why not put your money into a retirement fund? The earlier you start investing, the better.

 

Invest BLINDLY

So you want to grow your wealth. Don’t make it rain on any investment opportunity that comes your way. Is your officemate bugging you to get in on their MLM gig? Or maybe an old classmate has emerged from who-knows-where to offer you the chance to invest in an “uhh-mazin” business opportunity. It’s your money, but remember: if it seems too good to be true, it probably is.

 

Not have an emergency fund

 

Life is unpredictable, so it’s important to have some funds set aside, just in case. Some experts say that the amount in your “rainy day” fund should be double your monthly salary, but this can vary from person to person. Basically, it should be able to give you some stability given your work situation and responsibilities. Though you can’t prepare for everything, by having some money set aside, you won’t be completely blind-sided by any unfortunate incidents.

 

Not save it for a bigger (and better) purchase

Ever wanted to go backpacking in Europe? What about getting your own car? These big ticket items may seem out of your reach now, but saving money is the first step to reaching these goals. Do yourself a favor and give your savings account some love. You’ll thank yourself in the future.

 

What are you planning to do with your 13th month pay?


Total
49
Shares
49
0
0
Avatar photo
Cristina Morales

Though a chronic dabbler in whatever tickles her fancy, Cristina claims she can count her passions on one hand: feminism, literature, the environment, embroidery, and the power of a solid pop song. She lives in Uniqlo lounge pants and refuses to leave the house without a winged eye.

Previous Article
  • Movies & TV

New on Netflix this December: The Witcher, Dead Kids, Goblin, and Many More

  • Posted on Dec 3, 2019Sep 12, 2022
  • Bianca Katipunan
View Post
Next Article
  • News

Shangri-La Plaza Welcomes the Yuletide Season with a Festive Tree Lighting Ceremony

  • Posted on Dec 3, 2019Dec 3, 2019
  • 8List Editor
View Post
You May Also Like
View Post
  • Adulting
  • Showbiz

Janella Salvador’s Showbiz Comeback Is an Inspiration for Moms to Never Stop Chasing Their Dreams

  • Posted on Feb 3, 2023
  • Edgardo Toledo
Marie Kondo
View Post
  • Adulting

KonMari No More? Marie Kondo Has ‘Kind of Given Up’ on Organizing, But Not on What ‘Sparks Joy’

  • Posted on Jan 30, 2023Jan 30, 2023
  • Meryl Medel
View Post
  • Adulting

What are the Tackiest Things Filipinos Do on Social Media? Pinoy Redditors Weigh In

  • Posted on Jan 26, 2023Jan 26, 2023
  • Edgardo Toledo
View Post
  • Adulting

Unjust Vexation: Yes, Annoying Someone is a Crime and Is Punishable By Law

  • Posted on Jan 19, 2023
  • Kyzia Maramara
View Post
  • Adulting

8 Ways You Can Invest Your Hard-Earned Money on Yourself This 2023

  • Posted on Jan 6, 2023
  • Kyzia Maramara
View Post
  • Adulting
  • Showbiz

Donnalyn Bartolome Irks Netizens with Her ‘Tone-Deaf’ Back-to-Work Post

  • Posted on Jan 4, 2023
  • Edgardo Toledo
View Post
  • Adulting

Dear Future Self: An Open Letter to the 2023 Me

  • Posted on Jan 4, 2023Jan 4, 2023
  • Edgardo Toledo
your 2023 era
View Post
  • Adulting

QUIZ: In 2023, You’ll Be Entering Your ____Era

  • Posted on Jan 3, 2023Jan 3, 2023
  • Cristina Morales
1 comment
  1. Pingback: Why You Should Avoid Multi-Level Marketing - 8List.ph

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Get the l8est delivered right to your inbox.

8List.ph
  • About
  • Sitemap
  • Advertise
  • Privacy
  • Archive
  • Bitesized.ph
  • Windowseat.ph
Your daily dose of entertaining, useful and informative lists.

Input your search keywords and press Enter.