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Making the Most of Your End-of-Year Bonus: Financial Moves



With the end of the year approaching, many of you are patiently waiting for the end-of-year bonus. Those were my favorite to receive. You may have a side hustle that brings in more money during the holidays. All these steps apply to you, too.


What to do with the extra income during the holidays?


Let’s make the most of it. Here are six ideas:


Create or boost your emergency fund:


Life is unpredictable, and a solid emergency fund is essential to financial stability. Consider starting your emergency fund or adding more money to it. Aim to save at least three months of savings, but if you can save more, do it!


This safety will give you peace of mind during unexpected times. Imagine having six months and up to a year. This is possible for you!


Pay off debt:


You can tackle your debt in different ways. You can send money toward your high-interest debt to minimize the interest you will pay in the long run. You can also send money toward your lowest balance debt, getting closer to paying it off altogether. This route will help you wipe off the debt and send that money toward your next debt, creating a snowball effect.


Regardless of which debt you decide to send it to, it gets you closer to financial freedom and more peace in your life!


Invest in your future:


Consider using extra holiday income in a retirement account like a ROTH IRA. If you are already contributing to your 401K this can be your next step, and know that it is an investment with a long-term gain. You have time for these investments to sit for 20-30 years and let compound interest make your money work for you.


Invest in self-improvement:


The best investment you can make is in yourself! No one can take that away from you. It can look like furthering your education, a coach, a workshop, or courses to enhance your skills and reach a goal you always had. It is time to make money moves.


Plan for short-term goals:


Do you have short-term goals you are considering, like a vacation, a gadget, or a home renovation? Your end-of-year bonus can be a great way to get closer to achieving these goals without impacting your regular budget.


Treat yourself responsibly:


You must add these moments of reward to your financial journey. It keeps you motivated. It is a sustainable and realistic way of maintaining financial stability. Enjoyment is part of life, and we can achieve our money goals if we do it responsibly.


Your end-of-year bonus is a valuable opportunity to enhance your financial well-being and build a more secure future. Remember, it is not how much you earn. It is about how you manage and grow what you have.


When we work together:


  • I help you create a plan to reach your money goals
  • I help you give your extra money direction while having fun
  • I help you learn about investment accounts that help your money work hard for you


If this resonates with you, I invite you to work with me! I want to help you escape survival mode and build a more secure tomorrow. Book a sales call.


I cannot wait to be part of your journey!


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Orlenda Cortez

Welcome to my corner on the internet! I’m obsessed with using money as a tool because it led me to pay off $30K in consumer debt in a year and a half, helped me save $20K in nine months to have my dream wedding in Costa Rica and is helping me build the life I never saw my family experience. Now I want to help others do the same!

Orlenda Cortez
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