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From starting an emergency fund to starting a small business here are some tips to help Filipinos stretch their 13th month pay until the next year
Published November 27
The 13th month pay is a holiday treat that many Filipinos are excited for every year. But did you know that this bonus is also a chance for you to boost your finances and plan for the next year? So, before you spend your entire pay on a new phone or a 7-day trip to Japan, let’s look at some practical ways to turn it something more meaningful. Here are some tips to make sure your 13th month pay work as hard as you do!
Been waiting all year long to give yourself a gift in time for Christmas and heal your inner child? Here’s the golden rule: choose only one item to splurge on and budget for it.
Consider buying it via Home Credit installments to enjoy deals as low as 0% interest so you can use your 13th month pay for other things.
Life can be unpredictable, and there are days when you aren’t always in good health or able to work. And in times of uncertainties such as sickness, accidents, or disasters, it is crucial to have an emergency fund. It is recommended saving up for at least three to six months’ worth of your living expenses. With emergency cash in hand, you’re prepared for unexpected expenses or whatever life throws at you.
Are credit card debt or overdue bills dragging you down? Here’s your chance to help your wallet breathe. For a more meaningful move, you can use a portion of your 13th month to pay some debts. Not only this lower financial burden but also gives more freedom for the future. It’s a smart move, preparing you to save up for bigger dreams next year!
Having a stable job isn’t always the end of it all and using your 13th month pay to invest in a small business is vital to keep the money flowing and have a safety net for the next coming years. When you invest your 13th month pay to start up a business, you can make the most of it in a way that could grow, whether you sell your own baked products or open an online store.
Have you ever looked at your living room or kitchen and thought, "Maybe it's time for a change?" Your 13th month pay can help upgrade or improve your living space. It could be in the form of a shiny sofa, air fryer, or an energy saving two-door refrigerator.
Christmas is the season of giving and to make something extra meaningful out of your 13th month pay, you can consider buying your loved ones some thoughtful gifts. You can think of affordable, yet meaningful items such as DIY gifts, framed photos, homemade treats, etc. With this, you are being reminded that it’s not about the cost of the gift – it’s the thought and love behind it.
Make this holiday season count by being smart with your 13th-month pay! Whether you're setting up an emergency fund, investing in gifts that matter, or finally getting that dream appliance, remember to plan your spending wisely. And if you're looking to stretch your budget further, check out Home Credit's Todo Pasko offer. Available until January 31, 2025, this offer gives you as low as 0% interest deals on the latest appliances, mobile phones, tablets and more! Find out more here: https://www.homecredit.ph/promos/todo-pasko-2024
