How to handle holiday bonuses, monetary gifts wisely
Scripps Local · New
Scripps Local
New
Here's a look at how to handle holiday bonuses and monetary gifts wisely. While your first urge may be to splurge, it may be wise to hit the brakes.
Breakdown
- Treat holiday bonuses as regular income in your budget 19s
- Reward yourself, but prioritize saving some of the bonus 47s
- Follow the 50/30/20 rule for unexpected cash 56s
- Example: $1,000 bonus—$500 to debt, $300 to savings, $200 for fun 1m 12s