5 Smart Ways to Spend Your Bonus
Were you the recipient of a bonus this year? If so, consider yourself fortunate, or was it well deserved? Of course it was well deserved! Employers don’t freely hand out money to its employees. At least not the ones I’ve worked for. So how should you spend those bonus dollars?
1. Invest in yourself – I would bet that you could work on career growth initiatives this next year and that those initiatives may or may not be funded by your employer, for various reasons. This is your chance. Dare to live your dream and take your career where you really want it to go! No more excuses or delays. This is the time. No one can take the first step, except you. So… do you know where you want your career to go in 2015? If so, get on it! Make sure you share your goals with your leader and ask if your employer will pay for the training or development. If they do, you’ve just received another bonus. But if not, you’ve got the means to pay for it yourself with the yearend bonus you just received. Of course, there are a few other conventional suggestions for spending your bonus as well, if you’re in a career that you love and have no other areas of improvement (highly unlikely… there’s always growth and improvement!!):
2. Pay down debt – extinguish the highest interest rate debt first
3. Mortgage payment – lump sum payments help you to get mortgage free faster
4. TFSA or RRSP – saving for your retirement takes a boost
5. Trips or toys – to ensure you keep up with the neighbours. I'm kidding of course. Sometimes you need a treat or reward. Just make sure you've taken care of business first! If you’re struggling with where you want your career to go, don’t fret, we can help! Give us a call and let’s get you started on finding the career that you love and the life that you’ve been dreaming of.
