How to spend your annual bonus on things that make you feel good

A few extra bucks are always welcome guests because you can never have too much money. Getting a good annual bonus always makes you think, makes you wonder “what should I do with the money?”

 

 

 

 

 

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Now there can be a number of things you might wish to do but there is a fine line between wants and needs and you may find yourself a little vague about situations when you have a lot of money (or even when you have a little).

You might spend too much on a dress you do not want or buy shoes you really do not need. For guys, fashion is not really a priority, but well, booze and food can be. So more than often, guys are seen spending their little extra earnings on food and partying with friends. Hey, all that is fine, but it is just advisable to spend what you earn on something you would really like because who wants a wardrobe full of unused clothes or a stomach too full to let anything else in?

Now, these can be some of the things that might seem to interest you when deciding on how you can spend your annual bonus (if at all, you wish to spend it; saving is always the best!) –

Plan a great vacation for yourself

 

 

 

 

 

 

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More than often you need some time alone. Now people living on their own might consider this a stupid idea since they’re apparently fed up with being alone. However, spending the entire day working and coming home to bed does not equate to having a gala time. You need to relax or you will soon feel that you’re losing it and that is never a good feeling. This is one plan, which is absolutely by you and for you. So, this plan will definitely make you feel good and you will come back to your hard-working life at the end of it with even more zeal (that’s got to impress your boss!).

Pay off debts

 

 

 

 

 

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Instead of spending your money on extravagant items like cars and bikes that you cannot afford in the long run, try not giving into temptations and try paying off things you owe. One time or the other in our lives, we all have owed money to people, be it a friend or instalments for things we bought. So the smart thing to do when you have a little money in hand is to pay those off (you don’t want to be chased by loan sharks do you?). This will help you enhance your cash in hand position every month and you can save more.

Start an emergency fund – Okay, that kind of created a sombre mood to things one didn’t want, but hey! We should all face reality. Accidents never come with warnings and you never know what is going to hit you and when (very literally), so you need to be prepared as much as you can be. The best way to do that is to have a strong financial foothold. So start a fund that, according to you, covers the probable expenses for your worst nightmare (now, don’t go all imaginative on it, stick to reality as much as possible). This will also safeguard your entire family.

Invest in Yourself- It’s not just clothes, shoes or a better laptop; investing in oneself is also about periodic upgradation of skills and knowledge. You are your biggest asset, invest in your own development and further education. This might just be the boost your career needed!