How to Spend Your Bonus in 2017

Many of us get our annual bonus payouts this time of the year. Though the in-hand component depends on many factors, but the prospect of a significant sum hitting our bank account makes us go crazy with the planning to spend to it. However, how we make the best use of this sudden splurge in money is what differentiates the wise from others.bonus payout.jpgFor me, a major part of it went into Equities this year since they have been witnessing a phenomenal run. Even otherwise, Stock Market would give you (more often than not) better returns than any other investment option. The remaining has been allocated across Travel and ‘Keep-the-wife-happy’ budgets 🙂

Over the years though, I would suggest allocating the Bonus to following categories:

  1. Pay off your Debt
  2. Save for Emergencies
  3. Invest in Future
  4. Upgrade your Skills
  5. Have fun with the Leftover

You can read more on each in my post for Money View (MV) blog here.

*MV is India’s No 1 money manager app with over 5 million users. Their Blog is one of the best in Business and Finance. Though every post I write for them is sponsored, my thoughts are genuine.
**Image sourced from here.

14 thoughts on “How to Spend Your Bonus in 2017

  1. The temptation to splurge is always strong, but if you can tide over it and channel it in a productive use it’ll pay off handsomely. These are wise options. Your financial advise is always great, Alok.

    Liked by 2 people

  2. That is a wise list to follow. But as Arv said, always tempting to spend. Personally I feel like I need to start spending less on ‘wants’ and focus on long term investments and gains 😊

    Liked by 1 person

      1. Wise words. Bit of spending and a bit of saving is the way to go – withing a well thought out and mapped budget of course. New financial year will be upon us soon. Good luck for next year 🙂

        Liked by 1 person

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