Spending your money wisely is a great way to celebrate the season, and a wonderful way to start the New Year. These are the top five smart ways to spend your holiday bonus.
Donate your Holiday Money
Donating money to a charity is in the true spirit of the season.
People who pick one organization they care deeply about to support, generally get more fulfillment from donating than if they had donated to a random charity.
If you donate regularly to a specific charity that organization can operate more efficiently, because they can anticipate your donation.
Therefore, if you donate, it is recommendable that you find an organization that you are passionate about, and stay involved. Donate regularly and attend fundraising events. It is great fun to become involved in non-profits.
Your generosity can add music in children’s lives, provide a safe haven for battered woman, help drug addicts recover and much more. Choose something you care deeply about and get involved.
Invest Your Holiday Bonus Money
Invest your holiday money in some stock, or mutual funds. The investment will always remind you of the holidays, and provide good memories.
You can even set up a custodian account for your children. You can spend some of the holiday time educating your children about money and investments.
They may not appreciate this when they are young, but when they are older and on solid financial footing, they will thank you.
Go On a Trip with your Holiday Bonus Money
Holiday trips do not have to be expensive to be fun. If you spend less money on transportation, you can spend more money on activities and gourmet food.
When you are thinking of trip ideas remember trips do not have to be expensive to be fun. Go on a hike, go horseback riding, or travel to another city within driving distance. Try to think of something new to do, that is close to home.
Upgrade Your House with Your Holiday Money
Many upgrades can be made to a house that will save you money in the long run.
Upgrading windows, dishwashers, and other appliances can upgrade your lifestyle and downgrade your utility bills. A perfect way to celebrate the spirit of the season.
Pay Down Debt with Your Holiday Bonus
It may not be fun or cool, but paying down debt is a great way to celebrate the holidays. If you have been suffering in debt, every bit you can pay off helps. Spending the money on a nice TV may seem cool now, but not when you get the bill.