Lorem ipsum dolor sit amet, consectetur adipisicing elit. Quae nam consequatur reiciendis omnis esse, nesciunt!

Close Me


Lorem ipsum dolor sit amet, consectetur adipisicing elit. Quae nam consequatur reiciendis omnis esse, nesciunt!

Close Me
Spending Your 13th Month Pay the Right Way
By Kathryn Barte 19 Dec 2022 91

Christmas is just around the corner. It’s the time of year when people are much nicer, and busier, from preparing for holiday feasts to working through the holidays. It’s also the time of year when the much awaited 13th month pay is given, the cherry on top of a sweet sundae. 


Just the thought of receiving your 13th month pay brings glee to your spirit. The mind is already coming up with things to purchase, what to do with it. Of course, you’d want to spend it for yourself, a reward for doing good work, say a luxury item or the gadget you’ve been eyeing all year. Whatever it is, you deserve it. 


Although it is nice to spend it all on materialistic things for yourself or for your loved ones, it doesn’t happen everyday that you receive a sum of money. There are much smarter ways to do good with your money that will guarantee you peace of mind to your financial well-being. 


1. Pay off your debts

Being debt-free is the goal for many people. Wouldn’t it be nice to know that you don’t owe anyone money? Whether it may be your friends, family, or actual loaners, you’re not only giving them the Christmas gift of paying them back, you’re giving yourself the peace of mind of not paying for a larger amount brought by high interest rates.


Increase your emergency fund

Don’t have an emergency fund? Now might be the time to start funding it or increasing it. Emergencies are inevitable, and unforeseeable. Coming from the pandemic that struck us all mentally and financially, it’s better to be safe than sorry. There’s emergency hospital visits, no matter how healthy you think you are, better be prepared for such events. 


3. Invest

If you’ve got little to no debt, and are secured with your emergency fund, investing your money is a good idea. Stocks and mutual funds are great sources of passive income if you fund them regularly. There are many kinds of investments: Stocks, Unit Investment Trust Funds, Real estate investments, etc.

Keep in mind to do your research thoroughly before putting your money into a fund. Educate yourself by listening to financial experts, and asking questions.


4. Home repairs

Maybe you’ve got something at home that needs fixing and you still haven’t looked through it? Maybe a leak from the roof to the ceiling, a broken doorknob, or a water pipe problem. Have it checked by a professional, that’ll keep you from being inconvenienced by the said issue, and will also lessen your stress than fixing it yourself.


5. Self Care Necessity

If you’ve no debts, no problems with your emergency fund, investment, or home repair, spending it on yourself is the best idea. Self care doesn’t have to be the most expensive thing, it could just be you going outside and enjoying good food, buying skin care products, and having a spa day in or outside. Travelling could be an idea for self care as well, it may not have a financial return of investment, but it’s an investment to your physical and mental health from working so hard the whole year. 



Related Reads

What's New

More Articles