Let’s Talk About Bonuses

It’s the season for bonuses and everyone is excited to spend it. The goal is to give gifts to the people you love, and also catch up with your Christmas wishlist. After unwrapping all the presents, devouring the whatever’s on the table, and being Santa Claus for a day, or savings end up with a flat line.

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Speaking of bonuses, according Jobstree.com’s Bonuses report:

  • The Banking and Finance Industry as well as the BPO/Call Center Industry are the top bonus-providers in the Philippines today.
  • While employers feel that they give out competitive bonus payouts versus others in the same industry, candidates feel otherwise.
  • Employees and employers admit that bonuses may not be as important in employee retention issues.
  • While both employers and employees do not really consider bonuses as the top factor in attrition, those that do plan to leave their jobs deliberately] wait for their bonuses before handing their resignations.

What to do with our bonuses?

Financial literacy is a must to everyone, and I was glad that I was able to listen to Fitz Villafuerte. A finance blogger, now a Registered Financial Planner. I learned a lot by reading his blog – http://www.fitzvillafuerte.com/, and I still continue to learn. You should bookmark his blog.

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That day I learned the 3 steps to follow if you want to start investing – SaveProtectInvest. Three simple steps, and it’s something that I must practice. I also bought his book “Guide To Investing” a text book approach to investing. Don’t expect to be inspired or find any quotable quotes, it a straightforward guide to investing that applies to the Philippine market. Check it out here – http://www.guidetoinvestingbook.com/

Christmas season is the season when we always bite more than we can chew. Spend more than we need to, and sometimes more that what we actually pay for. Be wiser, save – protect – invest.

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