In fact, there are also some companies who can still survive from this financial crisis. Indeed those companies giving achievement bonus to their employee. Several kinds of bonus may given by a company beside advance money in your salary. Bonus could be awarded as travel abroad, new car, or even new house. Although in generally, cash money is usually the form of bonus itself. Surely, the given amount of that bonus is probably not as big as before crisis.
With a small achievement bonus does not mean ignoring the interests and priorities in managing your personal or family financial. Even it is small amount, it is better to treat that bonus wisely according your family or personal financial situation.
There are some ways to treat your bonus wisely. Instead of spending the bonus to the unproductive things or products, better we treat them to something that positively increasing your financial life.
1. Bonus as a reserve fund addition
A healthy financial condition is where there are enough of reserve fund. This reserve fund is very important in this crisis situation, in case of company closed or involved in employee cut-off by company. Ideally this fund is reserve for six months expenses of daily life. Determining of six months is intended as the time required to find a new job if you lost your job. So if you already have your reserve fund but still not enough for those six months, this bonus could be for adding it so you don’t need to separate your salary again in next few months.
2. Adding your investment portfolio
This is the next step after you already securing reserve funds enough. Investment option also has to be tailored with the family need. In case of you are a single, chose the investment product that mostly meet your financial purpose determined before. When you feel your investment fund is secure enough, stock mutual fund investment could be the primary chosen. No need to directly invest in stock exchange, moreover you don’t know and not having enough time how to start and control it.
Second choice could be bank deposit. Period time of deposit and the amount can be tailored to your needs. Chose the bank with higher interest rate and have more flexibility to deposit.
3. Pay your debt
Actually this is the first thing to do whether you have several debts to pay. Especially for debts with long period of time which is always take big portion of your income to pay, such as car installment or home installments. Then also pay for consumptive debts like credit card, bank loan, or electronic goods installments, which are directly impact of your monthly salary and salary. No need to pay all the bonus to this debts, but separate some percent of it to pay consider you also have another needs and desire. Decide it wisely.
4. Pension fund or education insurance
If your child hasn’t insurance, consider the bonus allocated to education interest by buying an education saving or insurance product. Or also you could prepare your pension by adding your pension fund. This affects the long term future.
Even though you have full control of your bonus to use it for having fun, but not all of bonus spent for shopping. Reserving approximately fifty percents for investment or saving. Of how much the bonus given, should be thankful for and treated wisely by viewing a family's financial condition.
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