Some of us will be receiving our 13th month pay soon. Here are PinoyInvestor's Top 5 tips how to best utilize this hard-earned money of yours.
1. Allot a certain portion of your 13th month pay to savings. Start with 20%; better if it can go higher. These savings can be added to your emergency fund or investment fund which will surely benefit you in the future.
2. Start investing. If you haven't started yet, use a portion of your 13th month pay to get your feet wet in the world of investing. You have a lot of options -- Stocks, Time Deposits, Mutual Funds, or Unit Investment Trust Funds. If you're already invested, top up your current investment this month. Consider it a Christmas gift to your future self!
3. Spend on little luxuries. You deserve it, because you worked hard for it this year. So go indulge a little; just make sure you're not splurging too much.
4. Share and give back. Spread the Christmas cheer by giving small tokens or gifts to family, friends, or strangers in need. Their appreciation of your kindness will no doubt be fulfilling.
5. Invest in knowledge. Fast track your journey towards achieving financial freedom by learning the ins and outs of investments. Get a good finance book, attend seminars, or read online resources that can enhance your financial knowledge. This investment will bear lots of financial fruits soon!
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