Wednesday, November 16, 2011

Are You Getting a Christmas Bonus This Year?

Have you thought of what you're going to do with your Christmas bonus? Maybe it's already spent; I hope not! The obvious answer may be to spend it on Christmas gifts. Here are a few other suggestions:
  • Pay down on your debt (credit cards, line of credits, loans, etc)
  • Consider making an additional payment on your mortgage (check out your banks pre-payment options)
  • Put it aside for a rainy day. It could be your emergency fund
  • Invest it in an RRSP or GIC or even an RESP(if you have children)
  • You could give it all away (this is the time of year when a lot of families are in need, check out local charities or homeless shelters)
What do you normally do with your Christmas bonus?

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