Top of the list for many people would be to give yourself a treat and pamper yourself.
Sure, nothing wrong to reward yourself for a year of hard work. How about allocating a portion so that you can get a lifetime of rewards? Imagine getting a bonus year on year on top of the annual bonus you get from your work.
A simple 5 step to achieve this special bonus
- Start saving and investing early, even if you don’t have a concrete savings goal.
- Track your spending and investments. This can be easily done using a spreadsheet or free apps.
- Keep saving and investing even especially in really horrible markets. I will be writing soon on how to do so, regardless of market conditions.
- Don’t succumb to peer pressure to upgrade your lifestyle as your salary goes up. Your peers might spend all their raises but you don’t have to.
- Saving can be a slow process. Even if you don’t have a million in ten years. How about a few hundred thousands? Or a few thousands? Beats having nothing to your name.