Christmas bonus Do I spend it, save it or invest it? | Loans and Debts

December is almost here and we are at the time of the year where many of us look forward to the long-awaited Christmas bonus.

And well, although we can not anticipate the time to such a happy day, if we can make a plan about what to do with that benefit. What is the best you can do with this money? Let’s find out!

The Christmas bonus

The Christmas bonus is an annual benefit that, according to the Federal Labor Law, in its article 28, it is the right of all workers to receive financial compensation that is paid in the month of December as long as the worker has been fulfilled in I use a calendar year.

The bonus must be corresponding to at least 15 days of normal salary and must be paid before December 20.

What to do with the Christmas bonus?

What to do with the Christmas bonus?

In general, the bonus is used to meet expenses that arise at the end of years such as:

  • Parties
  • Departures / vacations
  • Payment of services / holdings / property / annuity

If your plans are not one of the above points and your question is what to do with the Christmas bonus? Here we have three possible solutions:

a) Spend it on purchases and useful payments

These payments and purchases, called useful, are those that you can turn to when you know that this purchase will benefit you in some way such as:

  • It is a purchase that you are going to turn off in its entirety, that is, if you resort to a loan that generates an interest
  • It will be used to settle some debt

These types of cats are recommended if your bonus is 15 days or less of your salary.

b) Save

Saving your bonus money can be one of the best alternatives you can take. For example, if you want to buy a product for which the cash payment is not enough for you, or ideally, you save that money until you complete the total of your purchase, as long as the storage time does not exceed 30 days.

Saving your bonus can be the beginning of a great success. Once you allocate your bonus to the trunk of the “non-expendable” it is feasible that you can invest it if this has been saving you about 30 days in the piggy bank.

c) Invest

If you have decided to save your bonus in the short term, the ideal is to invest it. There are different types of investment in which you will be able to deposit your money in order to generate returns. The most appropriate investment will depend on the following factors:

  • The bonus amount
  • The period you wish you had it in safekeeping
  • The risk you want to run

To identify your ideal investment you can use the investor test and determine your profile and the ideal investment instrument and product for you.

Recommendations upon receiving your bonus

Recommendations upon receiving your bonus

Upon receiving your Christmas bonus, we suggest you take into account the following points in order to keep it as long as possible or failing to get the best out of it:

  • Do not spend it before you have it. This means that you should not buy things before receiving the bonus expecting to pay them with this. Let’s face it, when you receive this benefit, there is little chance that you will actually use it to pay that debt.
  • Much of the workers in Mexico will receive an advance of the bonus in the fortnight prior to the Good End 2018. We suggest you not spend it completely or give in to panic purchases.
  • If you are going to buy products or services with your Christmas bonus, try comparing at least three similar options before making a decision. Remember, comparisons are the key to a smart purchase.

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