The long awaited 13th month pay is near! For those who don’t know, 13th month pay is the month long worth of mandatory yearend bonus that Filipinos receive annually. But before you go running to the nearest mall or logging in to your favorite online shop, take a break for a few minutes and reflect and where you should really use your 13th month pay.
Clear debt
We all want to start 2018 right. And this includes paying all the debt that we have accumulated in 2017. There’s no shame in having debt – it’s part of every adult’s life. What’s not right is letting this debt go unnoticed, making your credit score look bad in the process.
Start saving for down payment
Check off a bullet in your bucket list by starting to save for your dream home’s down payment. Trying to save up for down payment can be tough but it’s not impossible. Start house hunting now and use our mortgage calculator to see the estimate of what you will need.
Build an emergency fund
The rule of thumb is to have three months worth of your salary as an emergency fund to fully be covered in case an emergency happens. What you can do is to open a separate bank account and deposit some of your 13th month pay in it. It’s never too late to prepare for the future.
Start saving for down payment
Check off a bullet in your bucket list by starting to save for your dream home’s down payment. Trying to save up for down payment can be tough but it’s not impossible. Start house hunting now and use our mortgage calculator to see the estimate of what you will need.
Invest on a gadget that can help your career
Gadgets are often seen as an expense but it can also become a fruitful investment. Especially when it can upgrade your career. If you’re a freelancer in the world of tech or graphic design, maybe having a good laptop can help you strengthen your skills. Invest on material things that can help you reach the top of your career.
