Congratulations on your 13th month pay, otherwise known as Christmas bonus. You deserve it! But before you mindlessly spend your hard earned money on wasteful parties or buying items that you rarely use, I have listed the 3 best ways to spend your Christmas bonus below. I’m not saying that you don’t pamper yourself or your family , what I want is to give you options to grow your Christmas bonus. Don’t spend everything to parties and gifts, use a portion of your Christmas bonus the following investments to start the ball rolling, so to speak.

Here are the 3 best ways to spend your Christmas bonus

First investment: Life insurance

There are probably bigger or better investments out there, but if you belong to the middle class like me, getting a life insurance is one of the best investments that you can get. Probably the hardest part of any investment (or any endeavor in life) is how to start it. The extra money that you get for the holidays is the perfect fuel to prepare your future. The good thing about about life insurances today is that it bundle paper assets like mutual or index funds. Sign up for a life insurance and get a chance to study how to invest in paper assets. Starting can be confusing, click here so I can help you choose the right asset/s.

Related: Everyone needs an insurance (specially Pinoys!)

Second investment: St Peter Life Plan

If you notice, all of my choice of investments are based on life. Death falls upon us sooner or later. It is a contingent that is sure to happen. It will happen, so why not earn and capitalize on that event? Makes sense, right? With a St Peter Life Plan, your passing will be as peaceful as it can be. Once your plan is fully paid, you are assured that you get all the memorial needs without worrying on the rising cost of services. One great benefit of the plan is that it is transferable / assignable, meaning the plan can always be transferred / assigned to another family member, friend or even to neighbors.

A lot of people do not know that a person can buy multiple St Peter Life Plans. Why would you want to do that when you can only die once, you probably asking yourself. That is because the plan can be assigned/ transferred! Meaning, you can sell it, say after 10 to 20 years from sign up. That secures your money from inflation. Need to know more about St Peter Life Plan? Talk to me.

Related: 10 benefits of getting a St Peter Life Plan

Third investment: Emergency Fund

Ok, its not really an investment, but an emergency fund is the third best thing  you can allocate your Christmas bonus. A lot of Filipino families do not have any kind of emergency fund. They always live paycheck after paycheck, so it would be a viable idea to allocate all of your Christmas bonus to this fund.

How much exactly do you need as an emergency fund? The more money the better. But if you are to set the minimum amount, a good rule of thumb is that it should be enough to allow you and your family to survive for at least 6 months, if you ever you get sick or get fired from work.

Now if you still have a lot to spare after making these investments, you can spend it all to your heart’s content. There are things though that you should not buy or spend with your Christmas bonus. Here are the 3 things that you should not be buying with your Christmas bonus.