Are you one of those employees who have generous employers?  Are you fortunate enough to receive some sort of bonus this Christmas?  If you are, then good for you.  Hold your horses, though.  Before you rush out to the nearest sale and blow all your money, why not do a bit of thinking and make the most out of your money?

For one, I would suggest that you take a look at your existing debts.  I know this may not sit well with some people but hey, here you are, it’s the end of the year and you still have existing debts.  Now comes your Christmas bonus.  If you have the extra cash, what’s keeping you from paying off your debts?  I am not saying that you should use all that money for debts – that would not be too enjoyable, really.  What I am saying is that you should at least make some payments on the really urgent ones.  At least, you will be making some headway in this respect.

Another idea would be to invest part of that bonus in something lucrative.  If you do this, you would be able to watch your money grow and it will eventually be something more than what you originally had.  I suggest looking into ISAs.  Anyone over 18 has the right to invest in ISAs tax free.  That is, with the limit of £7,000 a year.  This is not bad, no?

I guess what I am trying to say is that if you have that money, don’t blow it on things that will not benefit you in the long run.

This entry was posted on Friday, December 21st, 2007 at 2:25 am and is filed under Finance . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.