A question most of us will ask ourselves if we really have no idea where did the bonus we receive go. All the extra moolah to spend after based on the year’s review and performance and we looked at our bank account figures wondering where did it all go. Did you spend it all on things you have had your eyes on? Put aside for a rainy day? Let it accumulate by investing?
I know some companies do give four to six months bonus to their employees (LUCKY YOU!) and you may splurge on lots of things. I’ve seen on my Facebook newsfeed, friends showing their newly purchases bags, holiday trips, and so on. But for those who don’t receive that much, it is still better than nothing and you too still can benefit from it. Not to worry, your branded handbag purchase will come eventually and so is the overseas holiday trip that you have always wanted (but for now, we do the trip via our Travel channels ok?)
Earlier this month, The Star published an article on Investing Your Bonus Wisely.
Glad to know that I did most of the things mentioned. For my bonus, it did:
- Get a washing machine (finally!). Definitely save on the trips to the DIY laundry since there’s two of us doing our own laundry at the same time. And we both shared the cost for the machine
- Diversify my savings – Yes, I not only have some in the bank, but I do invest in unit trust via EPF and cash.
- Signing up for a course – I just signed up for one recently to improve on my marketing and sales pitches and skills.
I may not have enough (yet) to put aside six to nine months emergency fund but I know I am getting there. Plus the investment I have made, I’m sure I’m pretty much covered. Every thing starts with a baby step right?
It’s still never too late to redo your planning for your bonus. I’m sure there’s still some left to do one or two items as stated in the article.
For some of you who may wonder how did I invest in unit trust via our EPF (yes, you can!) and cash (not literally block of cash but just cash on hand), do drop me an email at firstname.lastname@example.org and I’ll be in touch with you.