While the rest have already spent their Christmas bonuses, a lot of Filipinos have yet to receive theirs at the end of December 2012. And some are yet to receive hefty incentives and allowances in the first week of January 2013.
For most people, spending is more fulfilling than saving and investing during the post-Christmas season.
I have compiled 10 of the most effective spending habits for Filipinos to practice if they believe that saving and investing mean nothing for their future.
How To Spend Your Bonus This Year
1. Buy lotto tickets at Php100 (US$2.50) each for all the types of draws (6/42, Megalotto 6/45, Superlotto 6/49, Grand Lottoe 6/55, EZ2 Lotto, Power Lotto, etc.) on every draw date for the next 4 weeks. Who knows? You could be the next multi-millionaire! (Php100 x 15 draws per week x 4 weeks) = Php6,000
2. Get a tall frap at Starbucks daily before going to work for one month. (Php155 x 30 days) = Php4,650
3. Smoke your favorite cigarette at 1 pack a day (Php50 x 30 days) = Php1,500
4. Get a a prepaid iPhone5 64GB kit = Php45,000 and play with it along Aurora Blvd. or Pasay Rotonda.
5. Go for a Php10,000 shopping spree weekend on Three Kings Day (January 6, 2013). Besides, it’s the last day of Christmas.
6. Buy six 1-liter bottles of Red Horse at 7-11 with your friendly neighbor every weekend this January alone. (Php60 x 6 bottles x 8 weekend days) = Php2,880
7. Watch all 7 movies featured at the Metro Manila Film Festival at the Mall of Asia with 10 of your friends and family members. (Php210 x 7 movies x 10 persons) =Php14,700
8. Get a take out of your favorite fastfood meal to bring home after work. Every day. (Php150 x 26 days) = Php3,900
9. Invest at least Php10,000 on an unknown money-making business that promises 50% interest in one month.
10. If you’re in the Philippines, go to the U.S. for a tour. If you’re in the U.S., go to the Philippines for a vacation. If your bonus isn’t enough to shoulder all your vacation expenses, then borrow the bonus of your colleague.
There you have it. You just spent Php83,930 of your precious bonus.
Do you have other crazy, foolish suggestions on how to spend your bonus this year? Please comment below.
Hmmm…and by the way, did you know that if you had a similar bonus of P83,930 last November 2012 and invested it in let’s say, BDO Equity Fund, in December 1, 2012, that money would have grown by at least 12% or equivalent to a yield of P10,336 as of November 29, 2013. Your total money, capital and yield included, should have been P94,265.95 today.
Oh yeah, that’s too small for you.
Important Note: We are not preventing you to spend on these things if you have already addressed the things you need to focus on first like debt elimination, building up your emergency fund, insuring your life and health, establishing a constant flow of income through employment or business, etc.
P.S. 1. Bro. Bo Sanchez has appointed me as a coach for our young and new investors at the TrulyRichClub social site. It’s a fun, learning family with the purpose of “helping good people become rich”. I’m inviting you to join the TrulyRichClub too and email me at email@example.com if you have any questions. Click here to join!
P.S. 2. Learn How To Earn Through Larry Gamboa’s Real Estate System. Real Estate Mentor Larry Gamboa is giving a Seminar on February 9, 2013 on how he buys foreclosed properties or properties from “motivated sellers” and turn them around into rental properties or quick sales. If you’re interested to learn his system, click here now!
P.S. 3. Visit the Philippine Red Cross site to donate whatever amount you can for the victims of typhoons
“Pablo” and “Quinta” and Yolanda in the Philippines.
Photo credits: EricRP, iMalteZ, Reybronx