A couple were proud to show me their new expensive celfone which they bought using all their 13th month pay and charge the rest to their credit card. It was definitely none of my business how they spend their money but knowing they are living on debt makes me think they could use their holiday bonus wiser than buying new phones especially when they are already using expensive phones that are just a year old.

Tips for using holiday money wisely

Insurance - it is a wise decision to invest your money on insurance. It is wiser if you pay them annually since you are given large discounts for doing so.
Debt - full payment of debts from credit cards, loans, etc. is your first big step to financial stability and peace of mind.
Savings - having a large sum of bonus is definitely a large savings earning interest in the bank.
Business startup - putting up business especially web-based doesn’t need a lot of investment and using your holiday bonus for marketing, research, and resources could help you buy more and coolest celfone in the future.
Subscription service you might want to check out your subscriptions to different providers like internet, cable, etc. and see how much discount they are giving for paying your annual dues. My internet provider for instance is offering two months free for annual payment while my magazine subscription offer a ton load of perks for paying them in full.

Conclusion

People deserve to spend the money they earned but I believe people deserve more to become financially stable, free and independent with all the work they have done. Prioritize your spending and use your money wisely.

[tags]Finance, Business, Personal[/tags]