Thread by @myfinology

5⃣ Smartest things to do with your Bonus?😎

- 30% - Investments
- 20% - Paying off debts
- 10% - Invest in yourself
- 30% - Rainy Day
- 10% - Treat yourself

Let's understand each of these points in detail⤵️

Most people tend to blow up their bonuses on shopping & travelling.

While you are entitled to your share of fun, seriously look at your bonus money to contribute something useful towards your future self & ripe the benefits of capital appreciation.
#investing

30% - Investments💰

Your SIPs must match your incomes. By just investing your bonus money & increasing SIP by just 10% every year will help increase the final corpus size that you'll get eventually.

#personalfinances

20% - Paying off Debt💳

By using your year-end bonus to settle debts, you can save on internet payments in the long run.

These savings can be translated into additional cash for you to spend, invest or save, be it now or in the future.

#TaxPreparation

10% - Invest in yourself💸

Investing doesn't necessarily have to be financial markets.

You can set aside a portion of your bonus to learn new skills. This will help increase your knowledge, giving you both a renowned sense of motivation & brownie points for promotion.

30% - Rainy day☔️

It is always advisable to put aside 6 months of your salary/income as an emergency fund to provide a strong cushion in case of a crisis.

Using part of your bonus to enhance your emergency fund is a wise decision.

10% - Treat yourself & your loved ones🥳

Take this occasion to give yourself a pat on the back for a year of hard work as you get ready for another great year ahead!

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