Tips For Making The Most Out Of Your Christmas Money
22 December 2022 | 6 mins read
You’ve waited all year for this bonus, and you know you deserve to enjoy it! But before you start pressing the “Go” button on splurging for the holiday season, you might want to consider going for a different route this time, and figure out how you can use your Christmas Bonus more responsibly and still reward yourself! Here are 5 simple ways to make your Christmas Money count!
Put money aside before you splurge
Set aside a portion of your income (20%, 10% or even 5%). This will be useful for unexpected expenses. A few months from now when an emergency situation happen, you will be thanking yourself for putting aside the money.
Swipe your card wisely!
It is always a good idea to review your credit card statements before you go ahead and get your Christmas shopping done. Don’t get swept away by the extravagant spirit of spending.
Create a budget, and stick to it!
Draw up a realistic budget of how much money you can afford to spend this holiday season. Include the additional expenses as these can amount to quite a bit! Stick to your budget as much as possible to reduce the possibility of accumulating debts.
It’s OK to shy away from sales
You might be tempted to buy that designer bag because of the red tag sticking out, but think again if you really need it. Red tags can make you think you are saving, but you might be spending on something you never intended to get in the first place.
Treat yourself, you deserve it!
When you’ve paid off some of your debt and put aside enough money, now is a good time to treat yourself. You can splurge on the things you really want. Spending wisely and buy items that are useful for you, it becomes an investment. The best present that you can get for yourself is by having a solid financial plan.
DISCLAIMER: The contents including images, videos, audio and written texts found on the author’s social media page and other platforms does not constitute a research report and it does not have regard to the specific investment objectives, financial situation and particular needs of any specific recipient of this message. All material and content are strictly for informational purposes only. The contents posted should not constitute financial or investment advice and should not be considered as an offer, or solicitation, to deal in any of the securities or investment instruments mentioned in this message. The author may, from time to time, own or have positions in any of the securities mentioned or referred to in his content or any securities related thereto and may from time to time add to or dispose of or may be materially interested in any such securities. All thoughts are the author’s own.
Knowing where to start
Starting out on a clean slate with financial planning can be a daunting one, but there is always somewhere to start if you feel hesitant to speak with a financial consultant before doing any research. More often than not, you would already have some form of insurance protection before you know it. Arm yourself with the right information and start your financial planning process right!
If you are ready to kick start your financial planning review, reach out to us for a conversation.
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