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The cold weather, Christmas songs on the radio, and people who flock inside the malls to buy gifts make the forthcoming Christmas day more apparent. It also signifies that the Christmas bonus everyone is looking forward to is at hand. The way we would spend our Christmas bonus can truly affect our finances. More so, while it is easier to splurge than save, where our money goes should positively affect our lives.

Here are ways on how you can make the most of your Christmas bonus:

1. Buy new clothes

Go to the mall and buy new clothes. Upgrade your wardrobe; fill it with clothes that would make you look better. Shop for clothes you can use in different occasions. However, pick only those that you actually need and would wear.


2. Go get that gadget

It is okay to reward yourself with a new smartphone or laptop occasionally. Just be prudent and exercise wisdom before you make a purchase. The holiday season is a great time to spoil yourself because of the things you have accomplished during the year.


3. Pay down debt

If you have debts, it is wise to get rid of them before you splurge. It is certainly less fun to pay down your debt than to travel and explore new cities; however, if you can free yourself from bad debt faster, you can definitely use your future bonuses on great things that you want to have and do.


4. Invest

Invest in stocks, mutual funds, and other related ventures. These opportunities can grow your finances considerably and greatly affect your future. Talk to a financial adviser and see what kind of investment would suit your cash flow.


5. Save

An emergency fund is undeniably important. Save a portion of your Christmas bonus that will serve as your money buffer for sudden expenses. It is ideal to save so if unexpected and unfortunate events that would affect your finances happen, it will not be hard for you to find money.


6. Start a business

You do not have to put up a restaurant, but if you can, why not? Start a business to earn more. Remember, great things come from small beginnings. Take a leap of faith and see where a business would take you. Always aim to multiply your money.


7. Take a vacation

After all your hard work, you totally deserve a break. Treat yourself and go enjoy a getaway far from the taxing activities of life in the metro. There are airlines that offer cheap flights so you do not have to spend much on tickets. Pack your bags, see the world, and learn about new cultures.


8. Use it as a down payment for a house

Be smart and use your Christmas bonus as a down payment for a home. A house can pass as the greatest tangible investment anyone can ever make. Nowadays, many developers offer properties with low down payment. Do not forget that before you actually use your hard-earned bonus as a down payment, you need to educate yourself about the real estate market.

It is entirely up to you how you will use your Christmas bonus; just make sure you do not end up baffled, wondering where your money went.


This article was originally published by Hoppler