What Should You Do With A Christmas Bonus?

2022 was a rollercoaster of a year, but some lucky people got a year end bonus. The key to spending a bonus well is to make a plan for when that extra income rolls into your bank account. In this episode of Keep It Simple, we’re laying out the things you should consider when you’re planning for that Christmas bonus.

 

Whether you decide to pay off debt, add to your retirment account, or invest, use your bonus to set yourself up for success. Life happens, and making sure you’re ready to roll with the punches financially. Aside from backing up your financial future, using a bonus can be a great opportunity to invest in yourself. All this advice and more on today’s episode of Keep It Simple.

 

Listen in and don’t forget to check out our website linked below.

www.assetbuilder.com

 

[00:00] Show intro
[00:29] Shout out to Joey!
[01:19] Paying off debt
[03:47] Debt considerations
[05:11] Bulk up your retirement account
[07:49] Investing that bonus
[11:29] Restocking an emergency fund
[14:19] What is a 529 plan?
[18:36] Investing in yourself
[23:10] Minimizing the amount of cash you’re sitting on
[24:16] Saving for your next vacation or other big ticket items
[25:45] Closing comments
[27:09] Outro