Find out the best ways to use your 13th paycheck to catch up on your finances or start investing
If yours 13th salary has already arrived in your account, you may experience the excitement of having extra money in your account. However, it is important to have good financial planning to avoid overspending.
Below, financial advisor André Charone provides valuable advice on how to make the most of your 13th salary in an informed way. Watch!
1. Eliminate debt
Dedicate part of your 13th paycheck to getting rid of debt, starting with the ones with the highest interest. This will be good for your wallet and you will feel lighter, as if a weight has been lifted from your shoulders!
2. Remember that there is no such thing as a 14th salary!
Before you spend your 13th paycheck, it’s crucial to remember that there is no such thing as a 14th paycheck. Setting aside some money for start-of-year expenses, such as IPTU, IPVA and school fees, helps to avoid stress and financial strain in the first few months of the year.
3. Invest in your future
If you have no debts to pay, then you can take advantage of the free time and think about your future! The 13th salary can be a great ally in this journey. Investing some of this money is an option for building financial wealth.
There are different forms of investment for those who want to start investing on their own, from low-risk investments to more daring options. The important thing is to start, even if in small steps.
4. Save on gifts!
As you prepare your gift list, remember that gestures matter more than the price of the gift. Instead of wandering around stores looking for the perfect gift, consider creating something personalized and unique.
Get creative and think about how to surprise your loved ones with something special and meaningful. In addition to saving money, this approach brings a personal touch. So, be creative and turn the act of giving a gift into a unique experience for the recipient!
Source: Terra
Ben Stock is a lifestyle journalist and author at Gossipify. He writes about topics such as health, wellness, travel, food and home decor. He provides practical advice and inspiration to improve well-being, keeps readers up to date with latest lifestyle news and trends, known for his engaging writing style, in-depth analysis and unique perspectives.
