December, the month that all Filipino working classes are eagerly waiting to arrive. Not because this month is filled with holidays (well… not for this particular year at least) but for the 13th month pay.
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| "person-counting-cash-money" by Karolina Grabowska is licensed under CC0 |
By now, you probably know how the 13th month computation is done. But just in case you want to refresh your knowledge, you can use this 13th month pay calculator.
Having an extra amount that falls to your lap can be tempting. This is especially true if you spend the amount on impulse or spur of the moment.
Some will go straight and spend it to their wants and forget the necessary.
It is not entirely wrong because we need to relieve some of the stress caused by the pandemic. And December is the best month for that.
However, you need to remember that some things must be done in order of importance. This is for your 13th month pay to be efficiently spent.
Below are some tips:
Give 20% to Your Tomorrow Fund
This will be your buffer amount for the next year. It may not be much, but it can still help.
Give 20% to Your Debt Fund
Paying your debts is the most responsible thing to do. It is your obligation as the borrower to give what is due to the lender.
This will not be enough, but it can still shed some of that nasty debt interest.
Give 10% to Your Blessing Fund
"Everyone gets help from someone else at some point in their lives. So someday, you should help someone too."
This is one of my favorite lines that I remember after watching so many anime series. In fact, this quote served as my anchor when I created this blog.
Give 50% to the Economy
Who says that you are not allowed to enjoy yourself? You've done the first three spending tips, no reason to hold back. Enjoy, it's Christmas!
Takeaway
There is no right or wrong answer when it comes to enjoying your 13th month pay. Given that our situation is not yet better, we all need this.
But we also need to remember that some things must take precedent. Satisfy first the needs and then the wants.
Do you want to read more? Click the links below:
The Simplest Ways to Make the Best of Your 13th Month Pay
4 Tips on What to Do with Your 13th Month Pay
Do you have any other tips on how to spend your 13th month pay? Share your perspective by commenting below.
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