Take advantage of your christmas vouchers to the fullest
Hello friends of leo finance, we all know that in December and the arrival of the holiday season will also come one of the most anticipated times of the year, the Christmas bonuses. It was recently announced that the deadline to pay this benefit is Monday, December 20 at least in my country, which means that this additional payment will arrive in time for the holiday season. But you don't have to rush to spend because the key to make the most of it and for that you have to plan, so here I show you 8 tips that will help you plan your expenses.
A 2019 holiday shopping study found that consumers' spending priorities are Christmas dinner and New Year's Eve dinner; Home repairs and clothing purchases. But the most important thing before spending Christmas bonuses is to identify and plan for necessities, before the excitement of the holiday season takes you away. This list can help you.
Complete debt and credit repayment
Whether you have credit card debt, have a mortgage or are buying a car, the Christmas bonus is the extra money you can put toward that debt to pay it off or make some monthly payments. You may decide to spend all or part of your Christmas bonus on this, but it is recommended that it helps you get the new year off to a good start.
Increase your savings
If Christmas bonuses are coming up and you don't have any expenses to cover, before you rush into buying unnecessary gifts, we recommend you start or increase your savings. So you can start the year with peace of mind knowing you have a slightly better economic cushion. Remember to buy only what is absolutely necessary and save the rest.
Start remodeling your home
Christmas bonuses are great for starting that home improvement project you've been putting off. You can plan your renovation in stages and allocate the reward to cover at least the first stage. Remember that renovations don't always have to be expensive, but that extra money can definitely be the little boost you've been waiting for.
Renew before you replace
When the bonuses come in, it seems so easy to redeem them for clothes, electronics, and even furniture. But it's best for the environment and your wallet to have these items professionally refinished because in addition to being much cheaper, you can give these used items a new lease on life. You can completely transform your furniture by simply changing the shade of the glaze or upholstery, and you certainly won't spend all of your holiday bounty on new furniture.
Invest in real estate
It sounds a bit extreme, but if you're saving, you can find an apartment or a house and spend all of your Christmas bounty on buying a property. You can invest in a property that over time can become the next source of income or your dream home, so forget about Christmas gifts this year and invest better.
Managing impulse purchases
Monthly interest-free offers and purchases are available at all stores this holiday season and, while they are a great option, they can be tempting and a bit risky, especially when you have cash to spare. It is important to distinguish between buying on the basis of interest and need and buying in haste because, while these sales can be great for buying a needed new appliance, they are also very big and risky and can create big commitments for the following year. . So, before you spend, ask yourself if what you are buying is really necessary or are you just buying it to "splurge".
Better to buy online than in person
If you've already decided what to buy with your holiday gift certificates, we recommend buying online and not going to the store in person. In fact, it's tempting to spend more by visiting the store, as you're sure to find more than one offer that will convince you to buy some extra gifts and you'll definitely buy them with rewards.
Hire experts
The idea of calling in a professional interior designer or organizer sounds like a luxury, as it involves expenses that can't be incurred during the year. However, with Christmas bonuses coming up, you can finally invest in a professional interior designer, interior designer or planner who will help you transform your home in the New Year in the best possible way. Considering hiring other professionals, such as a landscaper or a fixer-upper, it's important that you invest that extra money in something you can enjoy in the long run.
Don't forget about you
Deciding what to do with the extra money can be tricky, from paying off debt to renovating your home, but it's important to remember your wants and the little things. Christmas bonuses come to make up for the work you put in during the year, so if you've been working hard for the past year, it's important to remember your wishes and the little things.