Are you done with your holiday shopping yet? I’m sure that at this point in time, most of you already are. Satisfied with the things you spent your money on? Hmm..? So, where did your bonus go? Did you spend it on worthwhile things? I hope so.. 😛
This post is not meant to make you regret your shopping escapade but to remind you to take some time to reflect on your spending habit. Hehe.. 😀 I mean it’s okay if you bought a lot of new things this season, but I hope you had a spending plan and strictly followed it. Don’t get me wrong. I’m not saying we have to be hard on ourselves. It’s fine to go and buy what we want, but we should also not forget to save up. While this season is the best time to spend, it’s also the perfect time to increase our savings. C’mon guys, it’s for our future! 😀
Well, it’s not that you have to keep all the bonus you received this Christmas. It’s just a matter of having the proper allocation. And how to do that? Here’s a simple tip that can get you started. Use the PROSPERITY FORMULA or the 10-20-70 principle. The 10% of your salary is for your tithes. It’s the Lord who blesses us with good health, work and income, so we might as well give back. The 20% should be kept as your savings. You can save it in the bank as your emergency fund or invest it in facilities that earn interest like mutual funds. Invest it for your future. If you want to save more, then better! Finally, use the remaining 70% to all the splurging you want. That’s for your food, clothes, gadget, etc. Now, you can go shopping without that guilty feeling!