Budgets, Debt Management and Financial Planning for Women

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December 2014
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Previous Posts

  • I Think The Big Christmas Bill Has Arrived :(
  • How to Stay on Budget This Holiday Season!
  • How Do I Score an ‘A’ in Financial Literacy?
  • Financial Literacy Month – How Did You Learn About Money?
  • Money Mummies, Boo Budgets & Worry Witches..What Gives You a Fright in the Night?
  • 759
  • Thank You for Thanksgiving Weekend!
  • What is The Least You Can Live On?
  • Back to School Checklist for the CEO of the House
  • Budgeting and Saving for Our Next Big Trip!
  • Salary Bonus

    Do you receive a bonus at this time of year? Many organizations reward their employees with salary bonuses and while it’s true that the money is welcome over the holiday season, you may not be maximizing its potential.

    You may feel that bonuses are extra money in your pocket and that you deserve to spend it how you like. This may be an opportunity to reward yourself and put the money towards your financial plan. Proportion the funds to your plan depending on the size of the bonus and your priorities. For example, 20% to yourself, 30% to debt, 30% to RSP’s and 20% to savings/holiday expenses.

    If you have an idea what you want to achieve, it’s simple to put into action. The same tip holds for raises. They may not seem like much after taxes and deductions, but small amounts add up quickly.

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