Array
Money Matters

13 Places to Spend Your 13th Month Pay, Based on Your 2019 Goals

Invest your money wisely

Shares
Photography: Unsplash (Main Photo)

It's that time of the year again, when you feel larger than life in anticipation of your year-end bonus. Suddenly you're excited about so many things—where to eat, what to buy, and you're probably already booking 2019 trips like it's nobody's business.

Before you get carried away, here's a reality check: The possibilities may seem endless, but your bonus is not. Instead of making the same mistake as last year, think long and hard about where your 13th month pay should go. It doesn't mean that you're not allowed to have fun, but as with anything, you have to consider your long-term goals before making major decisions.

To get you started on the path to smart spending, here are places to invest your 13th month pay based on your priorities for 2019:

Goal: True independence

Your credit card debt

Before thinking of what to buy, review your financial status first. If you have unpaid credit card debt, make sure to tick that off your list before spending on anything else. Because while you're not obligated to pay more than the minimum amount due, your debt increases every month because of accumulated interest. Another potential hassle? If you're trying to get approved for loans, having bad credit history will definitely affect your chances.

ADVERTISEMENT - CONTINUE READING BELOW

Your house fund

Do you think it's time for you to own your first piece of real estate? While your 13th month pay may not be enough for a downpayment, it'll definitely help jumpstart your savings for one—and it'll also help you commit to it mentally. FN TIP: To make sure you don't spend the cash, open a separate bank account just for your savings. 

TRY: Robinsons Residences

Goal: Prioritizing your health

A nutritional assesment

Whether it's weight loss, weight gain or just proper nutrition that you're after, getting the opinion of an expert will help you do right by your body.  

TRY: Food Intolerance Test, LifeScience in Bonifacio Global City

A year-long fitness membership program

Exercise isn't just about increasing your life span, it's also about improving the quality of your everyday life. And while there are people who have the discipline to work out at home, it's okay to admit if you need someone to motivate you along the way.

ADVERTISEMENT - CONTINUE READING BELOW

TRY: One Life Studio's Personal Training Sessions

Dental and medical procedures you've been putting off

You shouldn't wait until something goes horribly wrong before you prioritize your health. Whether it's a root canal, wisdom tooth extraction, or maybe even knee surgery, doing it over the holidays can also lessen the SLs you'll have to file in the year to come.

Goal: Career growth

A short course relevant to your chosen field

If you're on the fence about going back to school for an M.B.A. or Ph.D., maybe taking a short course first can help you decide. Another advantage is you get to widen your network and meet a lot of like-minded, goal-oriented professionals. You've got nothing to lose especially if you're looking to beef up your resume.

Here are short courses from the most respected institutions in the country you can sign up for.

Language classes

Aside from increasing job prospects, being bilingual can also help you get paid more in some industries. It's also helpful if you're hoping to move abroad eventually, or if you're aiming for a successful career in a multinational company. Even if you're busy, you can squeeze them in on weekends as a lot of languange school offer flexible schedules.

ADVERTISEMENT - CONTINUE READING BELOW

Here are 10 places where you can learn a foreign language in Manila.

Goal: Confidence Boosting

A new wardrobe

New year, new me, new wardrobe? As a feature on GQ notes, "Simply put: It does matter what you wear to work. Not only is your confidence effected by your clothes, but people make snap judgments about your abilities based on what you’re wearing."

TRY: Marks and Spencer (FN TIP: They have a great selection of office-friendly pieces. They even made it to our annual 30 for 30 list!)

An expensive beauty treatment

Beauty takes time, but if you don't have a lot to spare, might as well invest in a beauty treatment that will save you a lot of prep time in the morning.

TRY: Microblading, Ron Peña - PhiBrows Artist, P25,000 - 28,000

Goal: Get out of your comfort zone

Your first solo trip abroad

It's been said a million times over that millennials value experience more than owning things, and while the idea may be a little controversial, it's definitely not wrong. You can gain a lot of insight and valuable learnings from travel, and one way to take it to the next level is by flying solo.

ADVERTISEMENT - CONTINUE READING BELOW

TRY: New York (Here's a seven-day itinerary to get you started.)

A first-time package for a new hobby

There's no harm in trying something new once in a while. Aside from rediscovering yourself, picking up a new hobby can also lead you to a new career or alter your current lifestyle in a fruitful way. 

If you're scared of traffic and don't want to leave the house, you can always start something online.

Goal: Grow your wealth

An insurance plan 

While paying for an insurance plan may not be as exciting as a roundtrip ticket to South Korea, your future self will thank you for making life easier (and more stable).

TRY: Manulife Insurance Plan

Business capital

You don't need a huge capital to get your business up and running. If you need to get inspired, one Pinay shares she only shelled out P1,000 worth of capital for her leche flan business, which has since earned her her first million.

ADVERTISEMENT - CONTINUE READING BELOW

Alternatively, you can look for a partner you trust, pool your funds funds together, and invest in a franchise. There are a few with franchise fees below P100,000 if you're working on a tight budget. 

 

This story originally appeared on FemaleNetwork.com.

* Minor edits have been made by the Realliving.com.ph editors.

More on Realliving.com.ph

Shares
Recommended Videos

Latest Stories

6 DIY Ideas To Organize Your Cable Clutter At Home

Learn about some creative ways to solve this common home dilemma!

7 Stores to Shop for Kids and Child-Sized Furniture (Beds, Chairs and Tables, and More)

Let your child's personality shine by choosing unique pieces for her room!

10 Cute Pots for Your Plant Babies

Give your little green friends the home they deserve!

Andi Manzano Offers a Peek at Her Line of Child-Sized Furniture (Available in October!)

The actress collaborated with a home store that specializes in furniture for babies and kids.

Where to Find Wall Stickers for Your Child's Bedroom (No Need for a New Paint Job!)

You can get wall stickers in lots of unique colors and designs.

'Walang Trabahong Pang-Forever': 5 Lessons on Investing from Dimples Romana

Dimples and her husband have been investing in real estate properties since 16 years ago when they got married.

Take Note: Here's How Often You Should Wash Your Bed Sheets

There's a recommended general rule of thumb you should remember.

The 5-Basket System: How to Declutter Your Home Once and for All

Get rid of all the unnecessary junk that may have accumulated in your home finally.

Experts Say Having These 5 Colors at Home Will Make You Happier!

Thinking of giving your home a makeover? Make sure you choose the colors wisely!

'Good Utang vs Bad Utang': 10 Money Lessons From the Megastar Sharon Cuneta

Having a property to call your own is still the best investment, says Sharon Cuneta

Not All Electric Fans Are Created Equal! 7 Things to Consider When Buying One

Fans are a necessity in all Pinoy homes, so make sure yours is a reliable model!

7 Ways to Brighten Dark Rooms if Your House Doesn't Get Natural Light

First tip: Update your old light bulbs!
Load More Stories

Get inspiring design ideas and handy hints.
Subscribe to our newsletter now!