Here are three (money-savvy) things that you can do with your 13th month pay:
1. Clear up any consumer debt that you have.
Do you owe the credit card company some money?
Pay it off right now and save yourself from all the high-interest rates that will definitely make you broke. You can be able to shorten the paying period, too.
So, less paying period = more chances of you being financially free faster!
2. Build up your emergency fund.
What? Emergency fund again, you say?
Well then, if you have 3-6 months’ worth of your expenses stashed in your liquid bank account for emergency use, feel free to skip this suggestion.
Otherwise, get at least 30% of your 13th month pay and use it to jumpstart your emergency fund. Some amount that you’ve saved up this year is better than no amount, right?
(READ: 10 things to know to build your rainy day fund)
3. Make your money work for you – invest!
If you invest, this means that your money’s interest also earn interest on its own!
Invest in mutual funds or in variable unit-linked products.
Mutual funds = pure investment
VUL = income protection + investment
Are you scratching your head right now?
How about feeling weirded out because you’re confused?
Don’t know where to start?
We’ve got you covered!
FREE Financial Planning Seminar
In case you’re looking for investment options, my team and I will be having a small group discussion on Sun Life Financial‘s investment products and options for you and your family’s financial wellness and security.
This is to give you chances to:
– diversify your portfolio,
– maximize your money’s earning power,
– and ultimately build a better future for you and your loved ones
Don’t know what “diversification” means? Attend the free financial planning seminars that you can schedule for free.
Schedule your free financial planning seminar here.
FREE. ANYONE can join. The knowledge you get is PRICELESS.
You’re not obliged to do anything – except maybe share the knowledge with your friends.
Don’t let your 13th month pay disappear just like that.
Make it count and make it work for you.
You, just like everybody else, deserve a better future. Start getting it today.