It’s Christmas! This means that many employees will happily receive bonuses this month. Many employees look forward to their 13th month pay and other benefits before the actual holidays start. Plans to purchase gifts for friends and loved ones have been made throughout the year. Lists have been filled and items have been added to online carts to prepare for the upcoming shopping spree. It is easy to think that going all out is the best way to go, but there is an alternative that can potentially be rewarding and profitable in the future. And that’s in setting up savings.
Allotting our holiday funds for savings is a thought that seldom occurs to many of us. But in these uncertain times with the rise of inflation and the surge in prices of basic goods, a second option to shore up savings could be the wise decision. Having backup resources can cover a multitude of emergency needs such as medical, maintenance, and repair expenses. So, if there is an opportunity to receive bonuses in the coming months, it could be prudent to designate an amount for your spending, and the rest for savings or other means.
