Everyone seems to be forgetting that the holiday season is a great chance to actually save more money for the rest of next year. With all the Christmas sale hype, people tend to splurge more and forget about saving.
There is nothing wrong with spending for yourself or your loved ones during the Yuletide season. However, one must not forget that you can still spend wisely and even save big in the process.
Save Your Bonuses
Companies often give out two bonuses for the holidays: the mandated 13th-month pay and the Christmas bonus. Not all companies give out Christmas bonuses, but some do give out rewards for employees who did extra well during the year.
For loyal employees, both of the bonuses can easily amount to a month’s worth of work. That basically means one can potentially earn twice their rate during December.
Most people would spend more as their first instinct. There are a lot of flashy sales in department stores and malls. Your favorite gadget may be on sale. Clothes may come in buy-one-take-one orders. It is truly a tempting time to buy all the stuff that you may not actually need in the first place.
But what can you do to avoid spending more and make your money grow?
Investing is one of the many ways that you can easily grow your money over a period of time. It can be both safe and risky depending on what you invest in.
One of the rising trends in investing is cryptocurrency. The media have given their attention to Bitcoin (BTC) and the other altcoins such as Litecoin (LTC) and Ethereum (ETH). It can be attractive to see that most of them grew a hundred-fold in 2017. However, proper research and study must be done before investing.
If you want a safer investment, consider opening a stock trading account through your bank or an online broker. Buy blue-chip stocks, which are stocks of companies that have a proven track record through the years. Your money can grow slowly but surely annually through increasing stock prices and dividends.
Another great investment is investing in yourself. This does not necessarily mean buying expensive stuff to reward yourself, but rather investing in things that will help you grow as a person. You can take an online course to augment your skills for your line of work. You can get a gym membership so that you will take care of your body. You can also buy better and healthier food. Investing in yourself may not immediately show rewards, but your mind and body will thank you later.
Instead of spending money on things that you may not need, it can also be a good idea to give back this holiday season. While many families are safe and warm in their own homes this Christmas, there are still the less fortunate that need help.
There are a lot of charities that are more than willing to help you help the needy. You can donate food and clothes to the church or your chosen charity.
You can also donate at the comfort of your own home. BatakCraft even offers local, handmade products from the Batak Tribe in Palawan in exchange for your donation. You can even use them as gifts for your friends and loved ones.
Pledge a few dollars or pesos and you will be given updates to the non-profit organization’s projects to help the Batak Tribe. You can browse their products on the website itself.
Save, invest, and give back at any time of the year. Remember to research properly before investing and avoid purchasing items that you may not really need. The holiday season is a good chance to earn more while spending less.