Make your Christmas Bonus Work For You

Making your Bonus work for you
report from Nina Corpuz, Dateline Philippines ANC

For many Filipinos, the 13th month bonus means "It's time to splurge".
But why not make that Christmas bonus work for you.

For many Filipinos, the much awaited Christmas bonus or the 13th month bonus
is as good as gone.

Common ways Filipinos spend their bonuses:
- bibili ng TV
- magsho-shopping

"walang natitira, tinanggap ko lang isang araw, kinabukasan, wala na"


By January, many Filipinos are left with no savings, worse, some of them are burdened with debt.

Financial coach Salve Duplito advises Pinoys to use their Christmas bonuses wisely,
but putting it in the bank is not one of them.

Because if left in the bank, after one or two months, "ubos na iyan ksi ang banko
or ATM account is very accessible. Maya't-maya kukupitan mo yan."

Banks only give about 1% interest compared to the Stock Market or Mutual Fund
which can earn you about 10% to 15%.

Investing in the stock market maybe riskier but you don't have to pull out your money
when it falls.
"Hintaying mo lang na paakyat yung trend, tsaka mo sya kunin, e di kumita ka."

You can also put your money in a business.
"sa 200 pesos na capital ngayong araw na ito, gawa ka ng mango float.
Ibenta mo bukas. Sa susunod na araw, ung 200 pesos mo, 400 pesos na."

Duplito says she is not saying that Filipinos should not enjoy the extra  money.
It's ok to spend it but not without limits.


Hope this helps!

Spend your bonuses wisely.

For more information on how you can stretch your money so that you can grow it
to fund your Child's Education, your Travel Dreams, or your future Medical Expenses or Retirement,
feel free to leave a comment or drop me a note at geecc[at]hotmail[dot]com for a free financial health check.

Happy Saving and Investing!