5 Tips for Smarter Spending This Bonus Season

Fortunate enough to have an end-of-year bonus in sight for all your hard work in 2019? 

The temptation to splash out on the big-ticket purchases that yield short-term satisfaction can become very real once the money lands in your account. But you’re also being presented with a golden opportunity to strengthen your financial position going into the new year and beyond. 

Take a moment right now to consider the benefits of using your hard-earned money more effectively. With a little discipline and planning, you can enjoy a perfectly good festive season without breaking the bank, and invest in longer-term abundance.

Here are our top five tips to get you started…

Pay off debt

Enter the new year with more peace of mind by using this opportunity to reduce any short-term debt obligations with high-interest rates (such as personal loans or store cards). 

Invest in your future

If you’re lucky enough to not have any lingering debt, use the extra income to secure your future by topping up your retirement savings or opening (or adding to) a tax-free investment account.

Pay expenses in advance

One sure-fire way to alleviate financial stress in 2020 is by looking ahead to any large expenses you’ll have to cover in the new year (like school fees) and paying some in advance.

Plan your festive spending

There’s nothing wrong with treating yourself and your family over the holiday season. Before you do so, though, decide on the percentage you’ll be using for luxury expenditure, and stick to it. A good rule of thumb is 10 – 15%.

Uplevel your career

Why not leverage the windfall to invest in further education and training that helps you up the ante at work and increase your chances of enjoying an even bigger bonus next year? 

If you’re ready to see just how hard the extra income can work for you, sign up for a university-accredited online business short course that’ll transform your professional life in 2020. 

Your future self will thank you for ditching the short-lived thrills of the spending season in favour of the lasting rewards of a brighter future. 


online short courses

Related Stories

8 Ways to Work Smart, Not Hard

3rd July 2020

Hard work is the foundation of a long, rewarding and successful career. However, you will find that the…

Read More

How to Separate Facts from Fiction Emmanuel Gamor’s 3-Step Strategy

26th June 2020

With the advent of social media and the ability of every smartphone owner to become a content producer,…

Read More

Regain Control through Proactivity & Education

19th June 2020

If the past few months have shown us anything, it’s that we can never be too prepared for…

Read More

5 Ways Online Learning Can Reignite Your Productivity

12th June 2020

The past few months have been an absolute whirlwind that has seen workers and students all over the…

Read More

Which MasterStart Course is Right for YOUR 2020 Comeback?

5th June 2020

Now, we’re going to go out on a limb here and guess that your 2020 hasn’t exactly gone…

Read More

Dare to Be Different This Dare Day

29th May 2020

Although many of us are affected by the global economic impact of COVID-19, it’s important to remind ourselves…

Read More

View More