It’s already late November and it’s also a bit too late to impress your boss for a christmas bonus. If you were winning at your job all year then you’re most likely in for a nice fat bonus. But if you’re like the majority of us then your bonus this year is just going to be just ‘ight’ … if yuh get one..
What not to do with your bonus:
1. Do not waste it on carnival fetes
Every year the Carnival season seems to begin earlier and earlier. And this year it’s no different. As things get swinging late December, you would find that coincidentally you have money to pump. Don’t! It’s a trap! Set a limit for the number of fetes you would like to attend next year. Chat with your crews to see which fetes they are hitting. A decent count of 3 parties can set you at a good budget of $TT1500.00 … not including a new outfit.
2. Do not feel the need to shower every man jack with a gift
Create a list of the names of the people you usually purchase gifts for and keep revising that list. Eliminate anyone you have not seen or interacted with since the ham finished last Christmas (obviously this doesn’t include your parents).
For those that didn’t make the cut, organise a group gift exchange.
You basically want to play the recession card. Get creative with your gift ideas, not everything has to be purchased on amazon.
3. Say no to small purchases
It’s easy for a few thousands of dollars to disappear from your christmas bonus and leave you wondering where your money went. It probably went in an accumulation of small, low budget and probably unnecessary purchases. Small purchases can range from that $TT100.00 lunch just because you’re balling or dinner with the boo at Luce. Be careful, it’s a creeper.
What to do with your bonus:
1. Make large purchases
Purchase that stereo set you’ve been eyeing all year. Make a down-payment on a new vehicle. Whatever you spend it on be sure that you can account for most of it come Ash Wednesday.
2. Pay a significant bill
Put it to your mortgage. To your vehicle loan. Even a school loan. Be careful about paying off your credit card. If you didn’t manage your credit card this year you are probably not going to manage it next year.
3. Don’t spend it
Save your entire bonus. You can use your basic salary to purchase Christmas gifts and enjoy the festive season.
4. Live a little
Set a reasonable percentage of your bonus that’s just for you to have fun with. After all you worked all year, what the heck.
How did you spend your Christmas bonus last year? How do you plan to spend it this year? Leave us a comment below to let us know.