Don’t let your 13th-month pay go to waste!


The year is about to end and we all know what that means: your much-awaited 13th-month salary is here. Receiving extra money after a year of hard work is exhilarating, especially with the holiday season coming up, as you can treat your loved ones to anything special. But remember, how you spend it will determine your financial situation for the coming year. While it’s okay to splurge on material things, it’s also important to use this opportunity to invest in stuff that will help you in the long run.


7 Things You Should Spend Your Christmas Bonus On


Consider the following ways to make the most out of your 13th-month pay:

Note: All information in this article is accurate at the time of writing and subject to change without prior notice.


Pay off your debts


MRW I finish paying off a 5 figure credit card debt - GIF on Imgur


Before you start your Christmas shopping, tick this off the list and pay your debts first. Why so? Debt can ruin your holidays. Whether it’s from your credit card, loan, bills, or dues from your friends – now is the time to get rid of them. If you cannot pay in full, start by listing down all of your debts and sorting them to figure out which one to prioritize.



Get a life insurance


BQ Big Decisions: How Much Is Your Life Worth?


Getting life insurance is one way to have a safety net not just for yourself, but also for your family members. It’s not just about you – the insurance you purchased is in place to protect and provide financial relief for those who must carry on without you. With the multitude of insurance that is available, you can definitely pick one that best suits your goals.



Build your emergency fund


Money Saving by Mykola Mokrenskij on Dribbble


While it can be daunting to start an emergency fund, it’s still necessary, especially now that there’s still a pandemic. It’s not enough to just depend on your income when it comes to unforeseen expenses. The easiest way to build your emergency fund is by having at least 3 months of your salary in a separate savings account. This will give you enough leeway to recover from most of your financial tragedies.


Go online shopping


Shopping Online - Isometric by nour elsaeed on Dribbble


Reward yourself, but do it wisely! The holidays are a perfect time to treat yourself as there are plenty of deals and promos so you don’t have to pay in full. Whether you choose to buy the latest iPhone or that laptop you’ve been saving up for, it’ll surely be worth it. Just make sure to not overspend so that you still have extra money for other important things.



So, have you decided how to spend your 13th-month pay? Keep these ideas in mind and make sure to make wise spending decisions this season.


One Does Not Simply Meme - Imgflip

Note: All information in this article is accurate at the time of writing and subject to change without prior notice.

ShopBack is a Cashback reward platform that allows savvy shoppers to earn a portion of their online spendings as Cashback. You get all the best deals and discounts from your favorite online stores and earn Cashback that you can easily payout to your bank account. Join ShopBack now to make the best experience out of your online shopping.