What to do with your Christmas bonus?

I am sitting at Starbucks (SBUX) and listening to some old Christmas jingles. Yes, even the Starbucks in Thailand is playing American jingles as Christmas is drawing near.

For many hard-working employees out there, this time of the year is not only an opportunity to spend some days with friends, family and to eat more than we usually do. It’s also the time when many employers pay a Christmas bonus. And the big questions is: What to do with it?

I know Apple (AAPL) got the new iPhone out and the Camera is really great. Plenty of people seem to think so because it’s constantly sold out in all the shops around here. I pre-ordered my iPhone 11Pro and just got it a week ago. It is awesome. It is also very expensive. So the question is, should you really spend so much money, or is there a better way?

Buying without spending

Me buying the iPhone was not a spontaneous decision. I was using my iPhone 6s for almost 5 years now and it was simply time. However, I also didn’t pay for it in a lump sum.

I got it with a 1-year contract which reduced my purchasing price by around 6.000 THB, almost 180 Euros. Then I put it on my credit card to collect cash-back-points and turned the total amount into an installment plan for 6 months. It will now cost me roughly 150 Euros a month, 6 months long, at a 0,79% interest rate – and it will be covered entirely by the dividends from my investments which I receive monthly.

So in the end, I didn’t even touch any of my cash to get it, and I will enjoy the benefits of the phone hopefully for another 5 years.

As for the Christmas money, well, I don’t get any. There is no such thing in Thailand. However, IF I would work in a place where a Christmas bonus is a thing, I would have done exactly the same. And the Christmas money would go straight in my investment account.

Conscious spending

There are many ways how we can get great things without actually spending money on them. A little preparation, creativity, and thinking. That’s all it takes.

And if you don’t receive monthly dividends just yet, then, even more, you should start investing now. The sooner you can start receiving and/or increase your passive income, the more money you will have left to keep increasing your assets and preparing for a worry-free future.

Disclosure: I have shares of Apple.

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