4 Smart Ways to Spend your Christmas Bonus


November 16, 2018


You have to admit that aside from the parties and family get togethers during the Holidays, you’re also awaiting your company’s year-end bonus. In the Philippines, 13th-month pay is a mandatory benefit of all employees. Some companies also give additional Christmas bonuses especially if sales are good and targets are met. So who’s not excited, right?

But in most cases, you already spent the money in your head before it even gets deposited to your payroll account.  With the things you’re going to buy, presents you want to give and the bills you need to pay, before you know it, the money is all gone not really knowing where it all went. So we list down some ideas to budget your bonuses and make sure you make the most of it.


1. By the time you know the exact release date of your bonus, don’t divide it yet by the expenses and things you want to buy. Always think what really needs to be prioritized. If you have outstanding credits that need to be settled, it’s time to pay it off first. You don’t necessarily have to use your entire bonus on paying off debts, but at least reduce it to lessen the burden of your monthly bills and dues. It is better to start your new year with your mind at ease. And by slashing it off, you can start saving for yourself and your holiday expenses.

2. Get a portion for your protection. Of course, you want to enjoy the fund that you worked hard for the past year, but make sure to at least save a percentage of it for your future needs. You may consider giving a security for yourself. Insurance like PrimeHealth Cash Plan which can help you with your emergency expenses.  It covers accidental death, critical illness, and medical assistance up to age 80 for only P229/month. You can also enroll an HMO coverage for yourself if you aren’t a member yet. This way, if in case something unexpected happens in the future, it can save you from financial trouble.

3. After slashing off your top-of-the-list and the most important expenses, you can now enjoy your bonus for Christmas shopping. Just make sure to be smart when picking items.  Compare items and look for those with the most affordable price. If you’re planning to reward yourself with a new gadget or home appliance, get one that offers lowest or 0% interest and pay for it monthly.

4. Treat yourself and go on a vacation or you can visit your hometown. You deserve to pamper yourself every once in a while. Enjoy Christmas with your family and friends back in your province. Schedule the trip in advance and take advantage of seat promos so you don’t spend your entire vacation money on airfare.  

In handling money, one should be wise when it comes to spending it. As a responsible adult, you don’t want to regret that your hard-earned money just flew away in an instant. Knowing how to handle your finances and where to put your funds should always be planned ahead so you don’t end up broke and in debt the entire year.


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