2020 December Snippet Archives

Prudent spending of your bonus

Don’t get wrapped up in year-end festivities and splurge your bonus all at once! Here’s how to use your bonus effectively:

Debt that is in arrears should be your priority. It’s not going to go away, so pay as much of it as you can. Also, prioritise high-interest debt like personal loans and credit cards.
See if you can pay up any loans and or debt that may free up extra cash going into the new year.
Keep some money aside to give your emergency fund a boost. If there’s one thing that 2020 has taught us it’s that an emergency fund is crucial!
Invest some of the money in tax-free savings or unit trusts.
Put money aside for known costs in the new year, such as education fees and related costs, etc

Working through the festive season

If you are working through the festive season it can be difficult to stay productive while your loved ones are chilling at home and having fun. Here’s a few handy tips to help you cope at work through the festive period:

Don’t get carried away partying when you have to be at work the next day. One way to help manage this is to be careful of overcommitting to too many social events that will leave you feeling exhausted.
Don’t use company time to plan personal events. Your work will suffer.
Make a list of what needs to be done at home ahead of time and delegate tasks to family members who are on leave.
Take care of your well-being. Working over the festive season can be stressful. Make sure you are getting enough sleep, eating well and exercising.