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How to spend your 13th month pay wisely

December 15, 2022

Image by Nattanan Kanchanaprat from Pixabay

It’s that time of the year — bonus season! 


While it’s tempting to splurge on new gadgets and gifts, it’s best to allot some of your hard-earned 13th month pay and other bonuses for your future. Here are ways to spend your extra cash wisely:

  1. Pay off debts

Before spending on luxuries, settling outstanding bills and loans should be your first step. 


Financial advisors recommend paying off existing debts whenever one comes across extra funds. A shorter repayment period or a lower monthly amortization will lighten your financial burden down the road and will free up more disposable income for you to spend on other needs and wants. You are doing your future self a favor by taking steps closer to financial freedom.  


Image by Alexa from Pixabay

2.Treat yourself

After settling your dues, allot some cash to reward yourself — you’ve earned it! There should be no guilt in spending a portion of your bonus on items or experiences that you have waited for all year. It can also serve as a reminder of all your hard work, and a token to keep going. 


A little reward goes a long way, and it doesn’t have to be that expensive. Having dinner at a nice restaurant, buying a new gadget, or heading for a quick vacation can do the trick. Remember that you do not have to blow off all your hard-earned bonus in one go.


3.Save for the future

Set aside a portion of your bonus as savings, which will come in handy in case you encounter unplanned expenses in the coming year. It’s also wise to keep your money in the bank if you are saving up for a specific goal, such as an overseas trip or for raising a child down the road.


Financial planners often suggest the 50-30-20 budgeting method: 50% of your income goes into “needs” such as food, housing, and utility bills; 30% on “wants;” and at least 20% on savings and investments. 




4.Invest your money

Another option is to invest your bonuses to make more out of it down the road. Many would start by converting the fund into a life insurance policy, while others put their cash as downpayment on a property. 


Investing your extra cash in real estate is always a good idea as you can begin building your dream home, with the blessing of a salary bonus providing a solid head start. 


Make sure to invest with a reputable developer like DMCI Homes to make the most out of your investment. DMCI Homes takes pride in quality workmanship and community development in all its projects. 


Interested? Learn more about DMCI Homes’ pre-selling and ready for occupancy projects, units for lease, and special promos, call (632) 5324-8888. You can also visit to know more about opportunities in leasing and rent-to-own programs of DMCI Homes. News and other updates are also posted on the company’s official website and social media accounts on Facebook, Twitter, Instagram, and YouTube.

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