Thursday, December 10, 2015

Things To Do With your Christmas Bonus the Accountant’s Way

image source:
December is the most awaited and the most special month of the year for the working sector. Yes, because it is the birthday of our one and only savior Jesus Christ, it is a season of gift giving, big family reunions, endless Christmas parties and of course the 13th month pay.

But to tell you, many Filipinos are not properly allocating their 13th month bonuses the right way. Most of us are using it to buy the things we want but not the things we need.

So, what can you do with your 13th month pay, so that it can be used fruitfully? How do financial advisers and famous accountants budget their money

Here are some of the viable tips that might help you:

Pay your Debt

Since you have money that is more than what you are earning monthly on a regular basis, I think this is the right time to set aside a portion of your 13th month to pay on decreasing your debts. Though it is not advisable to pay all your debts all at once, you’ll definitely feel less burdened afterwards. 

Know the Difference of Needs and Wants

So, what do I mean by wants and needs here?

Wants are those things that we really want to buy but is not necessary to buy. Those are luxurious items that we have been craving for like new smart phones, latest gaming console (PS4)/games, a mountain bike, new car and many more.

Needs, these are the things that we cannot live without. It is the basic necessities of human namely: food, shelter and clothing. Yes, these are the basic necessities but it can also be considered as a type of luxury in some scenarios. Example, if you are a student with an allowance of 100 pesos and a packed lunch. During your lunch break you have an option to eat your packed lunch and save your money or eat your packed lunch and buy something that can increase your appetite, what would you choose? For me, both are healthy options but option A is the more budget friendly while option B is more inclined to luxury.


For as low as P5000, you can start your own investment right away that can even grow at a minimum 7% increase annually. Let your money work for you, don’t wait for another year or make a delay to reach your financial freedom. Read about long term investing and let time grow your money while adding a small amount to your initial investment little by little.


Christmas is the spirit of gift giving. Why not try setting aside a small part of your 13th month bonus on charities or do tithing. As the bible says on 2 Corinthians 9:6-7, “The point is this: whoever sows sparingly will also reap sparingly, and whoever sows bountifully will also reap bountifully. Each one must give as he has decided in his heart, not reluctantly or under compulsion, for God loves a cheerful giver.” 


Post a Comment