PauloAbad
One of the things Filipinos look forward to as the year ends is their 13th month pay. Aside from helping them make ends meet, this additional income could also be highly useful should you ever need expansion capital for your business. Some Filipinos, though, end up using their hard-earned 13th month poorly and inefficiently. Below is a list of dumb ways Pinoys have used their 13th month pay.
Car Down Payment
Granted, using your hard-earned 13th month as a down payment for that car you’ve been eyeing may not exactly be considered unwise. Still, you need to keep in mind that a vehicle (especially a new one) comes with a lot of financial responsibilities. Therefore, you must make sure first that you can settle the rest of the balance before you proceed with buying that sweet ride.
Annual Gym Membership
Many gyms, especially those well-established ones, are aware that people would have little to no self-control come 13th month pay time. So don’t be surprised to find various gym promos everywhere you go come November to December. Don’t get us wrong; enrolling in a gym is a good investment. But you should consider the timing of it all. Aside from tempting you to spend your money on them, there’s little to no chance that you’ll actually hit the gym due to the holidays.
Online Deals
Online shopping platforms whose names won’t be mentioned here (to avoid backlash) are also aware of the demographic’s behavior when they receive their 13th month pay. And to make the most of it, they’ll host a sale during salary day itself. That’s why it’s recommended that you avoid visiting these online shopping sites during pay days. No matter how much you try, you’ll always get tempted to buy something.
Credit Card Fees
A lot of credit card holders put off settling their annual fees until late into the year. That’s why most of them end up not enjoying their 13th month pay as soon as they get it. Instead of spending it on things they want, they wind up exhausting it all just to pay for their credit card dues. If you’re a cardholder yourself, don’t be like these people. Pay your credit card dues on time if not earlier.
Don’t Be Dumb WIth Your 13th Month Pay
Instead of wasting your hard-earned 13th month pay on unnecessary things, better invest it on things that truly matter. Keep the list above in mind and try not to do them as soon as salary day comes.